Home / Knowledge / News / Apparel/Garments / Global organic growth drives Q2FY15 sales at Cherokee
Global organic growth drives Q2FY15 sales at Cherokee
15
Sep '14
Acquisition of Tony Hawk brand acquisition and continued global organic growth of the Cherokee brand led Cherokee Global Brands, a global marketer of lifestyle brands to post a 17% and 16% in net sales and net income, respectively for the second fiscal quarter ended August 2, 2014.

Revenues for the second quarter of 2014 increased 17% to $8.8 million compared with $7.5 million in second quarter of 2013 which the apparel marketer attributed to acquisition of Tony Hawk brand and continued global organic growth of the Cherokee brand.

However, SG&A expenses rose 19% to $5.1 million in the second quarter of 2014 from $4.2 million in the prior-year period. Cherokee said the hike in SG&A was due mainly to expenses related to recently acquired Tony Hawk Brand and additional marketing to support its brands.

Net income totalled $2.3 million, or $0.27 per diluted share in the quarter under review against $1.9 million, or $0.23 per diluted share, in the same quarter of 2013. As of August 2, 2014, Cherokee had cash and cash equivalents of $4.1 million, compared to $3.6 million as on February 1, 2014.

“We are very pleased with our top and bottom-line results. Cherokee Brand revenues for our key global partners in Asia, Latin America and Canada have all continued to perform solidly as well as our Liz Lange brand on HSN”, said Cherokee CEO, Henry Stupp. “

Henry Stupp added, “We fully expect the second half will continue to show positive developments through the execution of our strategic growth plan including the identification of new brand acquisitions and organic growth geographically”. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 24th Jun 2017

JD enters into strategic partnership with Farfetch

E-commerce giant, JD, China's largest retailer, and Farfetch, the...

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search