Cherokee Global Brands, a brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, has disclosed its results for the first quarter ended April 30, 2016.
In the reporting quarter, Cherokee Global Brands’ GAAP revenues of US $ 10.7 million surged 4.4 per cent as compared to US $ 10.2 million in the same period last year. Operating income for the company totalled US $ 4.3 million in the first quarter, down from US $ 5.8 million in the corresponding period last year. Furthermore, the company’s GAAP net income in the first quarter of the current fiscal totalled US $ 2.6 million compared to US $ 3.6 in the prior-year period.
Also Read – Cherokee Global Brands inks deal with Saliluz
Henry Stupp, Chief Executive Officer of the company said, “In addition to the positive sales results for the quarter, we were pleased to announce new direct-to-retail partnerships and the signing of a broad base of domestic licensees for our namesake Cherokee brand. We see these developments as strong indicators of the strength of our brand portfolio and the agility that our 360-degree platform brings to our partners,” adding, “We are excited about the upcoming summer launch of the Tony Hawk brand with Walmart Canada which will feature the most comprehensive assortment of Tony Hawk product anywhere in the world. Our recently announced launch with Cobian footwear for our Everyday California brand, which will launch within Flip Flop Shops, is a great example of how our brands logically support one another.”
Also Read – Cherokee Global Brands enters into license agreement with Ahold
Cherokee Global Brands is confident to build upon this positive momentum throughout the remainder of fiscal 2017.
