Cherokee Inc. said Tuesday that it hired Goldman, Sachs & Co. to investigate options for maximizing shareholder value, which could include a sale of the company.
The California-based licensor and brand manager said in a statement that it would not comment further until Goldman Sachs completes its analysis and its own board approves any transaction, "if that occurs." Investors praised the move by sending shares up 6.5 percent, closing at $34.50. The 52-week high is $48.76, while the low is $29.50.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)