US: Acquisition costs hit Cherokee Q4 profits
- Q4 earnings drop to US$951,000
- Sales climb 6.2%
Global brand management business Cherokee has booked a drop in fourth-quarter earnings as costs associated with its Hawk Brands acquisition weighed on profits.
In the three months ended 1 February net profit amounted to US$951,000. This compared to earnings of $1.1m a year earlier.
The company said SG&A expenses related to its acquisition totaled around $1m. Minus the costs, net income amounted to $1.7m.
Revenues for the fourth quarter increased 6.2% to $6.4m, compared with $6m in the prior year period.
"Fiscal 2014 was a year of challenges, growth and market complexities," said Cherokee CEO Henry Stupp. "We continued to see progress including the development of our portfolio of apparel categories, brands and geographies as well as the addition of financial and retail experts to our senior management team."
Apparel products sold by Tesco are expected to benefit from strengthening of the private label F&F and the expanding space dedicated to apparel in hypermarkets. The Cherokee brand is no longer present...
Cherokee Global Brands has said it is "on the right path" to expanding and develop its namesake label after booking a 75% jump in fourth-quarter profit, helped by strong sales growth and carefully man...
Cherokee Global Brands has entered into a new license agreement with Sports Direct International to launch a line of Tony Hawk athletic clothes and accessories for the European market....
- Where next for 3D design and prototyping?
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Tanzania adds to Africa’s apparel sourcing mix
- Apparel buyers miss out on commodity cost savings
- Brandix named PVH ‘Global Supplier of the Year’
- Earthquake damage at Bangladesh garment factories
- Ascena Retail to buy Ann Taylor owner for $2bn
- AGOA delays drag on sourcing decisions
- China and India to exploit trade relationship