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

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search