UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

_____________________

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

 

Date of Report (Date of Earliest Event Reported):  July 9, 2013

 

 

TRUE RELIGION APPAREL, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

 

000-51483

 

98-0352633

(State or Other Jurisdiction

 

(Commission

 

(IRS Employer

of Incorporation)

 

File Number)

 

Identification No.)

 

 

2263 East Vernon Avenue

Vernon, California 90058

(Address of Principal Executive Offices, Zip Code)

 

(323) 266-3072

(Registrant’s Telephone Number, Including Area Code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 7.01                                 Regulation FD Disclosure

 

Beginning July 9, 2013, management of True Religion Apparel, Inc. will use the information below in conversations and meetings with potential lenders:

 

Preliminary Second Quarter 2013 Net Sales

 

                Net sales for the second quarter 2013 increased 11.1% to $116.6 million as compared to $104.9 million for the second quarter 2012

                U.S. Consumer Direct net sales increased 11.0% for the second quarter 2013, as compared to the second quarter 2012; same-store sales decreased 1.2%

                U.S. Wholesale net sales for the second quarter 2013 increased 9.4%, as compared to the second quarter 2012, to $24.5 million

                International net sales for the second quarter 2013 increased 15.6%, as compared to the second quarter 2012, to $20.5 million

                Net sales for 2013 year to date increased 12.1% to $237.3 million as compared to $211.7 million for the same period in 2012

                U.S. Consumer Direct net sales year to date increased by 11.5%, as compared to the six months ended June 30, 2012; same-store sales decreased 0.2%

                U.S. Wholesale net sales year to date increased 14.1%, as compared to the six months ended June 30, 2012, to $50.1 million

                International net sales year to date increased 13.5%, as compared to the six months ended June 30, 2012, to $41.8 million

 

Q2 2013 Net Sales Results by Segment

(Dollar amounts in thousands)

(unaudited)

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

 

 

 

 

%
Increase/

 

 

 

 

 

%
Increase/

 

Net sales:

 

2013

 

2012

 

(Decrease)

 

2013

 

2012

 

(Decrease)

 

U.S. Consumer Direct

 

$

71,415

 

$

64,362

 

11.0%

 

$

144,761

 

$

129,819

 

11.5%

 

U.S. Wholesale

 

24,526

 

22,416

 

9.4%

 

50,061

 

43,861

 

14.1%

 

International

 

20,486

 

17,724

 

15.6%

 

41,832

 

36,856

 

13.5%

 

Core Services

 

136

 

407

 

(66.6)%

 

704

 

1,158

 

(39.2)%

 

Total net sales

 

$

116,563

 

$

104,909

 

11.1%

 

$

237,358

 

$

211,694

 

12.1%

 

 

Store Openings

During the second quarter of 2013, True Religion Apparel opened eight stores in the U.S., one store in Canada, and one store in Hong Kong.  As of June 30, 2013, the Company operated 130 stores in the U.S. and 33 international stores.  (For additional details on stores opened during the quarter, please refer to the June 30, 2013 Retail Store Summary below.)

 



 

True Religion Apparel, Inc. - Retail Store Summary

As of June 30, 2013

 

Store Count

 

As of
March 31, 2013

 

Opened during
Q2 2013

 

Closed during
Q2 2013

 

As of
June 30, 2013

 

US Stores

 

 

 

 

 

 

 

 

 

Regular Price

 

85

 

6

 

1

 

90

 

Outlet

 

39

 

2

 

1

 

40

 

US Store Total

 

124

 

8

 

2

 

130

 

 

 

 

 

 

 

 

 

 

 

International Stores

 

 

 

 

 

 

 

 

 

Regular Price

 

21

 

2

 

0

 

23

 

Outlet

 

10

 

0

 

0

 

10

 

International Store Total

 

31

 

2

 

0

 

33

 

Total US and International Stores

 

155

 

10

 

2

 

163

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

 

 

 

As of

 

Store Count

 

June 30, 2012

 

 

 

 

 

June 30, 2013

 

US Stores

 

 

 

 

 

 

 

 

 

Regular Price

 

83

 

 

 

 

 

90

 

Outlet

 

33

 

 

 

 

 

40

 

US Store Total

 

116

 

 

 

 

 

130

 

 

 

 

 

 

 

 

 

 

 

International Stores

 

 

 

 

 

 

 

 

 

Regular Price

 

14

 

 

 

 

 

23

 

Outlet

 

9

 

 

 

 

 

10

 

International Store Total

 

23

 

 

 

 

 

33

 

Total US and International Stores

 

139

 

 

 

 

 

163

 

 

 

The information contained in this Item 7.01 is furnished and shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

July 9, 2013

TRUE RELIGION APPAREL, INC.

 

 

 

 

 

 

 

 

 

 

By:

/s/ Peter F. Collins

 

 

Name:

Peter F. Collins

 

 

Title:

Chief Financial Officer