Cherokee Inc. (CHKE: Quote) comes on our radar after reporting higher profit for the third quarter, driven by increased sales of Cherokee-branded products at Target and year-to-date progress at Zellers Canada.
Cherokee markets, manages, and licenses lifestyle brands for apparel, footwear, home, and accessories worldwide. The company owns various trademarks, including Cherokee, Sideout, Sideout Sport, Carole Little, Saint Tropez-West, Chorus Line, All That Jazz, Liz Lange Maternity, and Completely Me.
It also assists other brand-owners, companies, wholesalers, and retailers in identifying opportunities as a licensee or licensor for their brands or stores. As of January 28, 2012, the company had 26 continuing license agreements covering domestic and international markets. Cherokee Inc. was founded in 1988 and is headquartered in Van Nuys, California.
In The News...
Q3 Profit Up On Higher Revenues
- Q3 net income was $2.1 million or $0.25 per share versus $1.0 million or $0.12 per share last year.
- Q3 net revenues were $6.7 million versus $6.0 million last year.
- Q2 net income was $1.6 million or $0.19 per share versus $1.7 million or $0.20 per share last year.
- Q2 royalty revenues declined to $6.3 million from $6.7 million from last year.
- Q1 net income was $2.1 million or $0.25 per share versus $3.3 million or $0.38 per share last year.
- Q1 total revenues rose to $7.5 million from $6.9 million last year.
- Q4 net profit was $1.5 million or $0.18 per share versus $44 thousand last year.
- Q4 total revenues dropped to $6.0 million from $7.4 million in the prior-year quarter.
Annual Financial Data
Net income for fiscal year ended January 28, 2012 was $7.51 million or $0.89 per share, compared to $7.72 million or $0.87 per share in 2011, and $12.6 million or $1.43 per share in 2010.
Net revenues totaled $25.6 million in fiscal 2012, compared to $30.8 million in 2011, and $32.6 million in 2010.
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by RTT Staff Writer
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