Cherokee Q1 revenues increase 23.7 percent

REPORT_ Cherokee Global Brands for the first quarter ended May 3, 2014 reported that its revenues increased 23.7 percent

to 10 million dollars, compared with 8.1 million dollars in the prior-year period. The increase in revenues relates to continuing organic growth of the Cherokee brand and the recent Tony Hawk brands acquisition.

Net income totaled 3.6 million dollars, or 0.43 dollars per diluted share, compared with 1.6 million dollars, or 0.19 dollars per diluted share, in the first quarter of 2014. On a Non-GAAP basis net income totaled 3.6 million dollars, or 0.43 dollars per diluted share, compared with 2.2 million dollars, or 0.27 dollars per diluted share in the prior year period.

“This is an exciting time for Cherokee Global Brands. The first quarter marked our strongest top and bottom line results since I joined the Company three years ago, and an extremely solid start to the fiscal year,” said Chief Executive Officer Henry Stupp, adding, “Consistent with our initiatives, our focus lies on taking our group of brands, and making them even better, while expanding our global footprint.”

The company also announced its corporate rebranding initiative as ‘Cherokee Global Brands’. The rebranding offers a refreshed image, logo and marketing materials to better communicate its position within the licensing industry and efforts to provide exemplary better service on a global basis to its retailers, licensees and potential future partners.