USA: Cherokee Reveals Record Q2 Sales, Income
Leading licensor of fashion apparel and footwear brands, Cherokee Inc, on Wednesday announced a 13 per cent rise in second quarter earnings from the year-ago period on the back of record revenues.
The California-based firm, whose retail clients include Target Stores, TJX Companies, Zellers, Tesco and Shanghai Bolderway, posted net earnings for the three months ended August 2 of $3.7 million, or 43 cents per diluted share, versus $3.3m, or 38 cents per share, last year.
Net revenues for the second quarter of 2004 rose 15 per cent to $9.9m from $8.6 million in the second quarter of 2003.
Chairman and CEO, Robert Margolis, said: "We were pleased to announce record revenues and earnings for the second quarter of fiscal 2004, which we believe is a testament to the diversity and strength of our various brands and relationships with leading retailers around the world."
President Howard Siegel added: "We recently facilitated the signing of an exclusive licensing agreement for the Hot Kiss brand in China with Zhejiang Xuege Fashion Co Ltd, and believe this is another example of our ability to execute our business model around the globe.
"We will continue to seek out additional opportunities with our current brands and potential new brands to implement our concept domestically and internationally."
Help test our new apparel sourcing tool.
Safeguard action by the US and EU against soaring Chinese clothing and textile exports has been fuelled by strong lobbying from domestic manufacturing trade groups. But how effective are these moves t...
Wal-Mart is famous for its everyday low prices. The world's largest company continues to dramatically transform the retail landscape by exploring new growth avenues, selling new categories of merchand...
Apparel marketer Cherokee has posted a third-quarter pre-tax income rise, as retail sales grew in the company's four largest accounts....
UK supermarket giant Tesco is suffering from the recent restrictions placed on EU imports of Chinese goods, but will continue to rely on China as an increasingly important clothing supplier....
Supermarket giant Tesco has appointed Terry Green, ex-chief executive of the collapsed Allders chain, as head of its clothing division....
Brand licensing group Cherokee Inc has reported a 10.4 per cent rise in second-quarter net revenues, and says it sees many growth opportunities ahead....
Licensor and brand management company Cherokee Inc says its client Hot Kiss Inc - a footwear and accessory company - has entered into an exclusive international license agreement for its Hot Kiss and...
The ex-boss of collapsed department store chain Allders is in discussions to take over the lead of supermarket giant Tesco's clothing division, according to a report in The Sunday Times newspaper....
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022