Cherokee Inc.’s third-quarter profits were weighed down by an increase to its tax provision, but the brand manager reported an improvement in its recent revenue trends and unveiled two licenses for its Sideout label. The Van Nuys, Calif.-based firm’s profits fell 14.8 percent to $2.8 million, or 31 cents a share, from $3.3 million, or 37 cents, a year earlier. Its income tax provision for the quarter ended Oct. 31 rose to $1.9 million from $1.5 million a year ago. Royalty revenues slid 1.4 percent in the U.S. and grew 1.5 percent internationally, making for an overall $5,000 rise in total revenues to $8 million. Although modest, the increase marked a turnaround from the first half’s 23.1 percent revenue drop after the liquidation of the Mervyns chain last year and declining sales at Target Corp. “During the third quarter, we signed up two new licenses for our Sideout brand, and in November we announced our new licensing agreement for the Cherokee brand in China,” said Howard Siegel, president. “We look forward to additional revenue streams from our new licenses over time, while we continue to pursue new licensing opportunities with premier clients around the world.” Cherokee signed an exclusive U.S. deal with ACI International to produce men’s, women’s and children’s footwear under the Sideout and Sideout Sports brands. For the nine months, earnings fell 20.9 percent to $9.5 million, or $1.07 a share, from $12 million, or $1.34, a year earlier. Revenues declined 16.9 percent to $25 million from $30.1 million.
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