• Q1 earnings soar to US$3.6m
  • Sales climb 23.7%
  • Re-branded to ‘Cherokee Global Brands'

Global brand management business Cherokee Global Brands saw its earning soar in the first quarter thanks to its recent Tony Hawk brands acquisition.

In the three months ended 3 May, net income totaled US$3.6m, compared to earnings of $1.6m a year earlier. The company, which has just revealed a corporate rebranding initiative to ‘Cherokee Global Brands', acquired the Tony Hawk brands from Quiksilver in a deal worth $19m earlier this year.

Sales in the period increased 23.7% to $10m, compared with $8.1m in the year ago period, primarily due to continuing organic growth of the Cherokee brand and the recent acquisition.

"This is an exciting time for Cherokee Global Brands," said CEO Henry Stupp. "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. Consistent with our initiatives, our focus lies on taking our group of brands, and making them even better, while expanding our global footprint."