Cherokee Group Shows 54% Jump in 2nd-Quarter Profit
- Share via
Cherokee Group reported that its second-quarter profit jumped 54% from a year earlier as sales rose 33%.
Cherokee, a fast-growing apparel and shoe concern based in North Hollywood, said net income climbed to $2.6 million, or 22 cents a share, in the quarter ended May 30, from $1.7 million, or 15 cents a share, a year earlier. The per-share results reflect separate 2-for-1 stock splits Feb. 28 this year and April 30, 1986.
Sales increased from $25.3 million to $33.7 million.
For the first half of the fiscal year, Cherokee’s profit climbed to $5.1 million, or 44 cents a share, from $3.4 million, or 30 cents a share, a year earlier. Six-month sales rose to $52.6 million to $70.7 million.
In the latest quarter, Cherokee also opened two more retail outlets in Southern California, giving it 11 units overall, and it said six franchised stores would open on the East Coast in the next six months.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.