Cherokee posts year profit fall, Q4 rise

US: Cherokee posts year profit fall, Q4 rise

Author: just-style.com | 15 April 2010

Net earnings totalled US$12.6m for full-year
Fourth quarter net revenue rose to US$7.6m
Q4 earnings were US$3.1m

Licensor and global brand management company Cherokee has posted yearly profit down but improved fourth-quarter results.

Fiscal 2010 net earnings totalled US$12.6m compared to fiscal 2009 net earnings of $14.3m, while net Q4 earnings were $3.1m as opposed to $2.4m for the comparative 2009 period.

Fourth quarter net revenue rose to $7.6m compared to US$6.1m in 2009.

Russell J. Riopelle, chief financial officer, added, "We once again ended our year in a solid financial position, generating a significant amount of free cash flow and a balance sheet with US$9.4m in cash and no debt," said CFO Russell Riopelle.

"This financial strength has allowed us to continue to pay significant dividends to our shareholders. We look forward to continuing to return excess profits to our shareholders, as conditions permit and at the discretion of our board of directors."

Cherokee is a marketer, licensor and manager of a variety of brands it owns such as Cherokee, Sideout and Carole Little among others.

It has licensing agreements in a number of categories, including family apparel, fashion accessories and footwear, as well as home furnishings and recreational products.

Sectors: Retail

Companies: Cherokee