Cherokee Inc. Thursday reported an increase in first-quarter royalty revenues while earnings fell on expenses incurred to upgrade its financial controls.
In the three months ended May 4, the Sherman Oaks, Calif.-based brand management firm generated net income of $1.6 million, or 19 cents a diluted share, 21.7 percent below the $2.1 million, or 25 cents, reported for the first quarter of 2012. Stripping out $958,000 in professional fees related to the review and upgrade of financial controls, net income was $2.2 million, or 27 cents, 7.9 percent higher than the year-ago period.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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