The Cherokee Group Inc. missed the Thursday deadline for the filing of its annual report with the Securities and Exchange Commission because of what it described as insufficient accounting controls.The company told the SEC that its internal mechanisms over financial reporting as of the Feb. 2 conclusion of its fiscal year “were not effective with respect to certain controls. The time and resources required of management to address these deficiencies has impacted the company’s ability to timely file its Form 10-K without unreasonable effort or expense.”Cherokee said the annual report will be filed “as soon as practical.”With a public float of about $93 million, based on its closing stock price of $13.01 Thursday and about 7.2 million shares in public hands, Cherokee’s annual report was due on Thursday, 75 days after the conclusion of its fiscal year. With a float of $75 million or less, it would have had an additional 15 days to file. Public companies with a float of $700 million or more have 60 days to submit the paperwork.The company said no “significant change” in financial results for the prior fiscal year is expected when the 10-K is filed.Jason Boling became chief financial officer of Cherokee last month following the resignation in February of Mark DiSiena. Ernst & Young LLC was appointed the company’s auditor in January after the dismissal of Moss Adams LLP in December.Henry Stupp, chief executive officer of Cherokee, declined comment on the filing.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim