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ACC 205 Analysis of True Religion Apparel Inc

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Analysis of True Religion Apparel Inc.
Analysis of True Religion Apparel Inc.
ACC 205 Principles of Accounting I
I choose to discuss True Religion Apparel, Inc. because they
manufacture a brand of jeans that I like. I do not buy these jeans
because they do not fit me well and they are out of my price range. At
the present time I am more interested in investing in real estate than in
jeans because I have found it to be more lucrative. However, True
Religion is a healthy, thriving company whose stock appears to be a
good investment.
True Religion Apparel, Inc. is a publicly traded company (NASDAQ:
TRLG) in the clothing industry. True Religion Apparel, Inc designs,
markets, distributes and sells apparel under the brand name 'True
Religion Brand Jeans' to fashion-conscious consumers on six
continents, including North America, Europe, Asia, Australia, Africa and
South America. True Religion Apparel sells its pricey products through
upscale retailers, like Bloomingdales, Neiman Marcus, Saks Fifth
Avenue, and some 700 high-end US boutiques. Their upscale denim
wear includes jeans, skirts, jackets, and tops. Their top three competitors
are:
V.F. Corporation - a leader in branded lifestyle apparel including
jeanswear, outdoor products, image apparel, sportswear and
contemporary apparel brands.
Levi Strauss & Company - also known as LS&CO or simply Levi's, is a
clothing company known worldwide for its Levi's brand of denim jeans.
Diesel S.p.A. - an Italian design company. It is best known for luxury,
pret-a-porter clothing aimed at the young adult market.
Contact Information: True Religion Apparel
2263 East Vernon Avenue
Vernon, CA 90058

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Phone: (323) 266-3072
Fax: (323) 266-8060
Web Site: www.truereligionbrandjeans.com
PERIOD ENDING | 12/2011 | 12/2010 | 12/2009 | |
|
Income Statement |
|
Operating Revenue (Revenue/Sales) | 419,798 | 363,714 | 311,001 | |
|
Total Revenues | 419,798 | 363,714 | 311,001 | |
|
Cost of Sales | 135,219 | 123,393 | 108,947 | |
|
Cost of Sales with Depreciation | 147,969 | 133,735 | 115,439 | |
|
Gross Margin | 284,579 | 240,321 | 202,054 | |
|
Gross Operating Profit | 284,579 | 240,321 | 202,054 | |
|
Selling, Gen. & Administrative Expense | 197,218 | 160,057 | 117,965 | |
|
Operating Income | 74,611 | 69,922 | 77,597 | |
|

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Operating Income b/f Depreciation (EBITDA) | 87,361 | 80,264 | 84,089 |
|
|
Depreciation | 12,750 | 10,342 | 6,492 | |
|
Operating Income After Depreciation | 74,611 | 69,922 | 77,597 | |
|
Interest Income | * | * | * | |
|
Other Income, Net | (637) | 403 | 338 | |
|
|
| All numbers in thousands |
|
|
Total Income Avail for Interest Expense (EBIT) | 73,974 | 70,325 | 77,935
| |
|
Interest Expense | * | * | 169 | |
|
Pre-tax Income (EBT) | 73,974 | 70,325 | 77,766 | |
|
Income Taxes | 28,197 | 26,690 | 30,434 | |
|
Minority Interest | 810 | 139 | * | |

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