USA: Cherokee Q2 Royalty Revenue Up 2.6 Per Cent
Net income was unchanged at $3.3 million it said in a statement, adding that diluted earnings per share were $0.38 versus $0.39 due to an increase in weighted average shares outstanding.
Six-month royalty revenue increased 5.8 per cent to $20.0 million from $18.9 million in the year ago period. Net income increased 6.6 per cent to $8.4 million compared to $7.8 million and diluted earnings per share increased 4.2 per cent to $0.99 compared to $0.95 for the six-months ended 4 August 2001.
Worldwide retail sales of Cherokee branded merchandise increased 5.9 per cent to $518 million during the second quarter and six-month retail sales grew 7.2 per cent to $1,021 million.
The Company also reported that momentum in the Sideout brand continued with retail sales increasing 22.1 per cent to $32 million during the second quarter and six-month sales of $57 million, 25.5 per cent higher than the year ago period.
Howard Siegel, president said: " With over $1 billion in worldwide retail sales of Cherokee branded merchandise for the six months, we believe our brands are stronger than ever. In addition to our continued growth in the United States, we are excited about the potential for additional growth with our Canadian partner.
Companies: Cherokee Inc
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