Cherokee Inc. saw its royalties and profits decline in the second quarter as it continued to experience lower sales of its namesake brand at Tesco stores in western and central Europe.
For the three months ended July 28, net income slipped 3.8 percent to $1.6 million, or 19 cents a diluted share, from $1.7 million, or 20 cents, in the year-ago quarter. With selling, general and administrative expenses reduced 7.8 percent to $6.3 million from $6.7 million in the 2011 period, operating income receded 1.6 percent to $2.7 million.
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)