LAS VEGAS, NV -- (Marketwire) -- 11/19/12 -- Respect Your Universe Inc. ("RYU") (TSX VENTURE: RYU) (OTCQB: RYUN), http://www.ryu.com/, is pleased to announce its financial results for the third quarter ended September 30, 2012. Net revenues increased by 127% to US$244,000 compared to US$108,000 in the second quarter of 2012.
The third quarter revenue increase was driven by a significant increase in USA, Canadian and UK wholesale accounts as well as accelerating growth from the ryu.com web store.
"I am proud of what the RYU team has accomplished. Our sales, marketing and product teams are aligned and the momentum continues as we open new wholesale accounts. We are pleased with the retail sell-through at this early stage of our startup business," said David Campisi, RYU's chairman and chief executive officer.
In addition, on October 25, 2012, RYU opened its first retail store located at The Shoppes at the Palazzo in Las Vegas. "Early results from the Las Vegas RYU store have exceeded our expectations," continued Campisi. "This store serves as an extension of our brand offering a premium shopping experience in a retail environment that reflects the quality, performance, sustainability, craftsmanship and design of our apparel and accessories."
For more information about RYU visit http://www.ryu.com or call 1-888-455-6183 ext. 101.
About Respect Your Universe
Respect Your Universe Inc. (TSX VENTURE: RYU) (OTCQB: RYUN) is a premium performance, training and lifestyle brand rooted in and inspired by Mixed Martial Arts. The RYU brand is based on respect, honor, strength and sustainability.
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable securities law. These forward-looking statements are subject to risks and uncertainties, which may cause the actual results, performance or achievements of RYU to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that sales of our apparel products through our distribution partners may not be as significant as anticipated. Except as required by law, RYU undertakes no responsibility to update any of the statements contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.