True Religion Is Glimmer of Hope for Luxury
Premium denim label True Religion (TRLG) posted a 10% jump in first-quarter earnings, providing a shot of life to the moribund luxury market.
During the quarter, the company earned $7.6 million, or 32 cents a share, compared with $6.9 million, or 30 cents, in the year-ago period.
Sales grew 19% to $63.6 million from $53.4 million last year.
Shares of the company were up 5% to $18.67 in after-hours trading.
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