Brand owner Cherokee has extended its licensing agreement with US general merchandise retailer Target Corporation for another two years.

According to a filing published yesterday (6 January), the new deal has been extended from 1 February 2015 to 31 January 2017.

The restated agreement, which began on 1 February 2008, has been extended three times - once in 2011 and twice in 2013. 

Cherokee offered an optimistic outlook last month, despite posting a 23.8% decline in third-quarter earnings and flat sales. Net income fell to US$1.6m, while sales remained at $6.7m.