Home / Knowledge / News / Fashion / Cherokee posts $32.8 million revenue for 2017
Cherokee posts $32.8 million revenue for 2017
24
May '17
On a year-over-year comparable basis, the consolidated revenue of Cherokee Global Brand, a global brand marketing platform, for 2017 was $32.8 million, compared with $34.7 million in the prior year. The decline is largely due to decrease in North America revenues. However, the company's revenues were $40.6 million including the contribution from Hi-Tec.

The consolidated revenues for the fourth quarter of fiscal 2017, including the contribution from Hi-Tec, were $15.0 million. Hi-Tec revenues totaled $7.8 million in the quarter and included $6.6 million in indirect product sales related to distribution and government contracts, as well as $1.2 million in licensing revenues stemming from new and existing licensing deals for the Hi-Tec portfolio of brands. On a year-over-year comparable basis, Cherokee Global Brand revenues, excluding Hi-Tec, were $7.2 million, a decrease of 8.8 per cent from $7.8 million in the prior year period. 

GAAP selling, general and administrative (SGA) expenses were $18.9 million in the fourth fiscal quarter of 2017, compared to $5.9 million in the prior-year period. SG&A expenses for fiscal 2017 totaled $38.9 million, compared with $21.3 million in the prior year. The increase in SG&A for the fourth quarter and fiscal 2017 was primarily related to an increase in professional fees from legal and due diligence expenses associated with the Hi-Tec acquisition of $11.5 million and $15.3 million, respectively, and which includes restructuring and integration costs associated with the acquisition of Hi-Tec.

The company's adjusted EBITDA for the fourth quarter of fiscal 2017 was $2.9 million, compared to $2.7 million in the same period for previous year. There was a decline in the adjusted EBITDA for fiscal 2017 with a total of $13.4 million, compared to $15.9 million in the in the prior year. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Gujarat finance minister Nitin Patel. Courtesy: Global Gujarat News

Textiles | On 22nd Feb 2018

Rs843 cr for MSMEs, Rs35 cr for khadi in Gujarat budget

The Gujarat government has made a provision of Rs 843 crore in the...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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