CHEROKEE UP ON GOOD NEWS.Byline: Deborah Adamson Daily News Staff Writer Cherokee Inc. shares rose 39.06 percent in the second quarter, regaining some of the momentum they lost in the first three months of the year, after a spate of good news that included strong first-quarter results. The Van Nuys-based marketer and licensor of the Cherokee and Sideout brand names surged from $8 to $11.12-1/2 in the quarter. The run-up came after the company reported a 143 percent increase in revenues to $5.3 million and a 34 percent gain in earnings to $2 million, or 23 cents a diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, including a $1.35 million income tax provision. In the quarter, Cherokee also announced licensing agreements with Mervyn's and Uptons, a Georgia-based retailer. It's a remarkable turnaround for the formerly beleaguered be·lea·guer tr.v. be·lea·guered, be·lea·guer·ing, be·lea·guers 1. To harass; beset: We are beleaguered by problems. 2. To surround with troops; besiege. apparel and footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). company, which has made two trips to bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. since 1993. Cherokee, unable to compete as a manufacturer, decided three years ago to cash in on its best asset: Its name. It ceased apparel and shoe operations and licensed its brand, and later the Sideout name as well, to retailers and wholesalers. CAPTION(S): Chart CHART: CHEROKEE FLIES: Cherokee had the best second quarter among publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. headquartered in the area |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion