This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cherokee Inc. Reports Second Quarter 2013 Financial Results

Cherokee Inc. (NASDAQ: CHKE), a global brand management company, today reported financial results for the second quarter ended July 28, 2012.

Net revenues were $6.3 million for the quarter, down from $6.7 million in the prior-year period. SG&A expenses for the second quarter totaled $3.64 million, a decrease from $3.95 million in the second quarter of Fiscal 2012. Net income for the second quarter was $1.6 million, or $0.19 per diluted share, compared with $1.7 million, or $0.20 per diluted share, in the prior-year period.

“The first half of Fiscal 2013 has been very productive for the Cherokee Group, marked by further global expansion, additional product category extensions and the continued development and execution of our long-term strategic growth plan,” said Cherokee Group Chief Executive Officer Henry Stupp. “Revenue growth in the first half of the year was well diversified geographically, with nearly all of our retail partners posting solid year-over-year increases in royalty revenues in most of the over 40 countries where Cherokee branded products are sold. In addition, to further drive the global growth of the business, we are thrilled to announce the acquisition of the Liz Lange and Completely Me brands and welcome Liz’s maternity collection into our strong brand portfolio.”

Mr. Stupp continued, “Throughout the quarter, Cherokee’s management team traveled around the globe to meet with key partners and support our 360 degree brand management approach. In fact, I just returned from meetings at Tesco’s London headquarters and look forward to the re-launch of Cherokee men’s, women’s, girls’ and boys’ clothing at Tesco in spring 2013. We are also very proud of the growth we saw this past quarter in Asia, Latin America, and of course, domestically, with our largest retail partner, Target. This positive progress with Target has continued into the third quarter.”

Mr. Stupp concluded, “We expect the second half of Fiscal 2013 will continue to show encouraging developments for the Cherokee Group. Through the execution of our strategic plan, we look forward to continuing to generate unique, high-quality products, to increase our global distribution and to expand our brand portfolio to deliver strong returns for our shareholders.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs