• Home
  • News
  • Business
  • Cherokee Q1 revenues up 3 percent

Cherokee Q1 revenues up 3 percent

By Prachi Singh

loading...

Scroll down to read more

Cherokee Global Brands, for the first quarter fiscal 2016 ended May 2, 2015 said the revenues increased approximately 3 percent to 10.2 million dollars, compared with 10 million dollars in the prior-year period. The increase in revenues was principally due to increased sales from Cherokee-branded products at international retailers and increases with other brands.

Operating income totaled 5.8 million dollars, an improvement of 12 percent, compared with 5.2 million dollars in the prior-year period. Operating margin was 57 percent versus 52 percent in the prior year period, also demonstrating increased operating leverage. Net income totaled 3.6 million dollars, or 0.41 dollars per diluted share, compared to 3.6 million dollars, or 0.43 dollars per diluted share, in the prior-year period.

“Cherokee Global Brands continues to experience strong growth as we develop our current brands and welcome new, exciting brands into our portfolio,” said Henry Stupp, Chief Executive Officer, adding, “While the first quarter posed some challenges relating to the residual impact of the Los Angeles port closures, the end of our partnership with Tesco in the UK and Target Canada closing its doors – we have exited the quarter stronger than before. We recently entered into new retail partnerships with Sears Canada, Argos, and Sports Direct while also welcoming lifestyle brand Everyday California into our portfolio.”

“Throughout the remainder of fiscal 2016 we will continue to promote the organic growth of our brands through additional category expansion and further international expansion. We will simultaneously and aggressively look for additional acquisitions that fit our specific requirements and add value to our company, our retailers and of course our shareholders,” Stupp added.

Cherokee Global Brands