Runway Fashion Trends: No slowdown: True Religion affirms 07 outlook

Thursday, December 13, 2007

No slowdown: True Religion affirms 07 outlook

Apparel company True Religion Apparel Inc affirmed its 2007 earnings outlook on Wednesday and said it has not seen any slowdown in consumer spending on its high-end clothes due to economic worries.

True Religion President Michael Buckley said at a conference hosted by Wedbush Morgan Securities that the company still sees full-year earnings of $1.24 to $1.27 per share, with sales expected to rise about 20 percent to $167 million.

Analysts, on average, expect profit of $1.27 per share on revenue of $167.4 million, according to Reuters Estimates.

The company also said it is expanding its licensing deals and has a branded fragrance on the way. In addition to the current licensing of its name to makers of handbags and swimwear, Buckley sees licensing opportunities in undergarments, loungewear, watches, jewelry, eyewear, housewares, bedding and hosiery.

True Religion, which made its mark selling jeans that cost hundreds of dollars, is also rolling out company-owned stores. By the end of this year True Religion will have 15 stores in the United States, and expects to have 33 by the end of next year, and more than 50 by 2009.

The company's shares were up 27 cents, or 1.4 percent, at at $19.07 on Nasdaq.

Here are some designs of True Religion Jeans for Men.