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.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"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)