By  on September 9, 2008

Cherokee Inc. blamed retail weakness, including reduced royalties from Target, for a decline in profits and revenues in the second quarter, but the company will still pay out a previously announced dividend later this month.

The Van Nuys, Calif.-based brand management firm reported a 17.7 percent drop in profits in the period, to $4 million, or 45 cents a diluted share, from $4.9 million, or 55 cents a share, a year ago. Revenues for the quarter ended Aug. 2, derived from royalties, dropped 11.4 percent to $10.5 million from $11.9 million in the same period last year.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus