True Religion Q2 double-digit gains

True Religion Apparel saw earnings for the second quarter ended 30 June rise 15.7 percent to $4.9 million (£2.6 million). Sales soared 39.7 percent to $30.7 million, up from $22 million last year, thanks to the strong sale of premium denim products in department stores. "It's a much different company than when we were rolling out department stores last year," chief executive Jeff Lubell said during a conference call. "We truly are in growth mode." The company is now concentrating on expanding its non-denim range, which includes T-shirts and outerwear and will include jewellery and fragrances in the future. Non-denim currently accounts for only 13 percent of total sales, but True Religion hopes it will eventually catch up to denim. The company also plans to open two more stores this year, one in New York in November and the second in Miami. It has also said that international expansion is a priority. Earnings rose despite a one-off arbitration settlement, with legal costs and interest costing the company $1.9 million. Chief financial officer Charles Lesser said that the second quarter is usually weaker due to the warm weather which interferes with jeans sales. Meanwhile, earnings for the first half gained 40.9 percent to $11.4 million on sales up 57.5 percent to $66.3 million.