True Religion Stands Out Amid Retail Bloodbath
NEW YORK (TheStreet) -- True Religion (TRLG) is running higher even as the rest of the retail sector retreats.
Despite concerns regarding the looming deadline for government to present a resolution to the debt-ceiling issue and weak GDP data, the premium denim retailer surged 13.1% to $33.59 in morning trading.
True Religion reported a 30% jump in its second-quarter profit, earning $9.4 million, or 38 cents per share, better than consensus estimates of 33 cents.
Revenue rose 20% to $98.3 million from $82.2 million, also ahead of forecasts of $91.6 million.
But overall, the S&P Retail Index dropped 0.4% to 536.15 Friday morning. Vitamin Shoppe (VSI) is one of the biggest decliners, plunging tk% to tk. While second-quarter profit and revenue both easily topped outlooks, costs rose 10.6%. --Written by Jeanine Poggi in New York. >To contact the writer of this article, click here: Jeanine Poggi. >To follow the writer on Twitter, go to http://twitter.com/jpoggi. >To submit a news tip, send an email to: tips@thestreet.com.Select the service that is right for you!
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