At a time when weak consumer spending has many clothiers singing the blues, officials at True Religion Apparel started the year on a cheery note.
The designer and maker of premium denim and related clothing saw fourth-quarter sales rise 75.9% to about $52.4 million from the prior year, according to preliminary results released on Jan. 17. For the year, sales jumped 24.4% to $173 million, $6 million above its prior guidance.
True Religion has made a big splash with its high-fashion namesake jeans, despite a price tag of $172 to $300 or more.
In the past couple of years, the company has expanded into nondenim items like pricey T-shirts and sweat shirts. It has also branched out with licensed products such as swimwear and handbags.
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Read about how the Motley Fool think that one shouldn't discount True Religion stock just because of its high short interest ratio.