Investor Contact:Cherokee Global BrandsJason Boling, CFO818-908-9868Addo Investor RelationsLaura Bainbridge/Patricia Nir310-829-5400
SHERMAN OAKS, Calif., Aug. 15, 2017 (GLOBE NEWSWIRE) -- Cherokee, Inc. (NASDAQ:CHKE), a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, announced today the appointment of Kimberly Doyle as Director of Financial Reporting and Internal Controls. In this role, Ms. Doyle will be responsible for leading the European-based finance team in Amsterdam. Commenting on the appointment, Jason Boling, Chief Financial Officer of Cherokee Global Brands said, "Kimberly's extensive experience in finance, accounting and internal controls with multi-national organizations aligns well with the future direction of Cherokee Global Brands. Kimberly's background with companies ranging in size from pre-funding to Fortune 500 accelerated filers, provides a unique perspective and insights into building world-class financial organizations. We look forward to Kimberly's contributions as we work to complete the integration of Hi-Tec and increase the financial discipline within our European operations." Kimberly Doyle, CPA, joins Cherokee following a 14 year career in public accounting, most recently, as Senior Manager at PwC. In her most recent role, Ms. Doyle was based in Amsterdam and was responsible for auditing foreign private issuers. Ms. Doyle has worked with a wide variety of clients and industries and brings critical technical and practical experience to Cherokee's European-based financial operations. While based in San Francisco she led multiple initial and secondary public offerings and initial implementations of Sarbanes Oxley. Ms. Doyle holds a Bachelor's Degree in Business Administration from California State University, Long Beach and is a Certified Public Accountant licensed in California. About Cherokee Inc. Cherokee is a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® Signature Apparel and Hawk Brands®, Liz Lange®, Everyday California®, Sideout®, Hi-Tec®, Magnum®, 50 Peaks®, Interceptor® and Flip Flop Shops®, a leading franchise retail chain, across multiple consumer product categories and retail tiers around the world. The Company currently maintains license and franchise agreements with leading retailers and manufacturers that span over 110 countries in 12,000 retail locations and digital commerce. Safe Harbor Statement This news release may contain forward-looking statements regarding future events and the future performance of Cherokee. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and is based on currently available market, operating, financial and competitive information and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expected or projected, including, among others, risks that: the Company and its partners will not achieve the results anticipated in the statements made in this release; that the Company's Quarterly Report on Form 10-Q will not be filed as anticipated and that further delays in such filing could cause the Company's lenders to exercise their rights under the credit agreements or the Company's stock to be delisted from Nasdaq; the anticipated benefits of the Hi-Tec acquisition will not be achieved; global economic conditions and the financial condition of the apparel and retail industry and/or adverse changes in licensee or consumer acceptance of products bearing the Company's brands may lead to reduced royalties; the ability and/or commitment of the Company's licensees to design, manufacture and market Cherokee ®, Hi-Tec ®, Magnum ®, 50 Peaks ®, Interceptor ®, Carole Little ®, Tony Hawk ® and Hawk Brands ®, Liz Lange ®, Everyday California ® and Sideout ® branded products could cause our results to differ from our anticipations; the Company's dependence on a select group of licensees for most of the Company's revenues makes us susceptible to changes in those organizations; and the Company's dependence on its key management personnel could leave us exposed to disruption on any termination of service. The risks included here are not exhaustive. Other risks and uncertainties are described in our annual report on Form 10-K filed on May 18, 2017, its periodic reports on Forms 10-Q and 8-K, and subsequent filings with the SEC we make from time to time, including the preliminary prospectus supplement that we filed in connection with the offering described herein. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.