True Religion sees Q1 SSS slightly negative to flat True Religion sees Q1 net sales in the U.S. Consumer Direct segment up in the mid single digit range compared to Q1 of last year primarily driven by new store growth. Same store sales are expected to range between slightly negative and flat in Q1. Net sales in the U.S. Wholesale segment are expected to increase slightly as compared to Q1 of 2012. Off-Price channel sales are expected to be flat compared to 2012. The International segment's net sales are forecasted to increase by approximately 10%.
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True Religion to be taken private by TowerBrook at $32 per share True Religion announced it has entered into a definitive merger agreement with an affiliate of funds managed by TowerBrook Capital Partners in a take-private transaction valued at approximately $835M. Under the terms of the merger agreement, TowerBrook will acquire all of the outstanding shares of True Religion common stock for $32.00 per share in cash. The merger is subject to approval from stockholders. The transaction is expected to close in Q3. Pursuant to the merger agreement, True Religion has suspended its regular quarterly dividend.
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