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Friday, Mar 29, 2024

Cherokee Net Rises

Cherokee Inc. reported net income rose 8 percent to $4.9 million or $0.56 per diluted share for the second quarter ended July 29 on revenues of $12.4 million. That compares with net earnings of $4.6 million or $0.52 per share on revenues of $11.3 million in the comparable period a year ago. Officials at the Van Nuys-based licensing and marketing company said that the results were helped by growth in the sale of Cherokee branded products in new markets in Central Europe as well as continued growth in the U.K. and Ireland. Royalty revenues from Target stores were down 3.6 percent in the quarter, but royalty revenue from international licensees grew 33.3 percent, the company said.

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