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Cherokee reports fiscal 2012 Q2 financial results
09
Sep '11
Cherokee Inc, a global brand management company, reported financial results for the second quarter ended July 30, 2011. Net revenues were $6.7 million compared to $7.5 million for the prior year, SG&A expenses were $3.95 million, compared to $3.36 million for the prior year and net income was $1.7 million, or $0.20 per diluted share, compared to $2.5 million, or $0.28 per diluted share, for the prior year.

"Over the past quarter, we continued to dedicate financial resources to marketing and creative services designed to expand our product offerings, brand visibility, and capabilities to support our partners, brand vision, and direction. We are starting to see the positive impact of our efforts, as evidenced by the Back-to-School sell-throughs and holiday commitments. We remain confident in our strategic direction and will monitor our investments in marketing and infrastructure to ensure that we continue maintaining proper discipline going forward," said Henry Stupp, Chief Executive Officer of Cherokee, Inc.

At July 30, 2011, the Company had cash and cash equivalents of $10.5 million, down 7% from $11.3 million at April 30, 2011 due mainly to the repurchase of common stock and a paydown of our loan to US Bank. Our current quarter cash and cash equivalents as compared to second quarter last year is up 44% from $7.3 million, continuing with our dedication to maintaining a strong and positive cash position for our investors.

Cherokee Inc, is a global marketer and manager of a portfolio of fashion and lifestyle brands it owns and represents in multiple consumer product categories and sectors around the world.

Cherokee Inc

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