The rise in revenue has been attributed to the acquisition of Flip Flop Shops in October 2015, a franchise retail chain offering footwear and accessories.
The company reported GAAP net income of $1.4 million or $0.16 per diluted share in the fourth quarter of FY16 as compared to $1.7 million or $0.19 per diluted share in the corresponding quarter last fiscal.
Operating income at the company was $1.9 million or 24 per cent of GAAP revenues during the quarter as compared to $2.7 million or 36 per cent of GAAP revenues in the previous quarter.
Commenting on the results, Henry Stupp, CEO of Cherokee Brands said, “During fiscal 2016, our branded retail sales approached $2 billion led by continued international growth and contributions from our strategic acquisitions, which include Flip Flop Shops.”
“Our global footprint currently spans over 9,000 doors in 50 countries worldwide and, with digital presence factored in, we expect our domestic and international brand awareness to grow in 2017,” he said.
“Retail is moving faster than ever before and retailers are seeking the vision, agility and scale that Cherokee Global Brands brings to the table,” Stupp informed.
“As we continue to add domestic licensees, our efforts are focused on identifying and onboarding new retail partners to ensure continued product placement for Spring 2017,” he added. (MCJ)
Fibre2Fashion News Desk
Textiles | On 24th Mar 2017
Li & Fung Limited, the world's leader in consumer goods design,...
Apparel/Garments | On 24th Mar 2017
In a step towards using the internet to bring small businesses around ...
Sunil Kumar Sharma
Loknayak JPNSSSG Ltd
'The blend of cotton–linen yarn has high demand in the domestic and...
Competition is the best thing that can happen to a startup
Setting up a brand for online selling is easy, but running the brand is not
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...