True Religion sees sales grow

US jeans company True Religion Apparel has reported sales and net income increases for the third quarter and has adjusted its outlook upwards. Net income for the quarter grew to $7.7 million (£4.4 million) from $954,000 last year. Net sales climbed to $35.0 million, up from $7.4 million last year.

"Our average sales per door in the US increased by 30 percent compared to the prior quarter, fuelled by strong sales of both denim and non-denim products," said president and chief executive Jeff Lubell. "Our international business remains very healthy and was responsible for nearly half of our total revenues in the third quarter. We believe we have a considerable opportunity to increase our penetration among our existing country distributors as well as expand our door count into additional countries over the next several quarters."

The company expects sales for the fourth quarter of between $24.5 million and $26 million. Net sales for the full year are expected to reach between $102 million and $103 million.