Cherokee (CHKE) Tops Q4 EPS by 3c

Cherokee (NASDAQ: CHKE) reported Q4 EPS of $0.16, $0.03 better than the analyst estimate of $0.13. Revenue for the quarter came in at $7.8 million versus the consensus estimate of $7.37 million.

“Reflecting on the fourth quarter and full year, we were pleased with our ability to successfully navigate through the many changes that impacted our business, and to position Cherokee Global Brands for further growth. Our ability to do so is a testament to our 360-degree platform, our strong brand portfolio, and our newly-acquired businesses,” noted Henry Stupp, chief executive officer. “We will continue to build on our momentum, which includes our new partnerships with UK-based Argos and Sears (Canada) for the Cherokee brand, Walmart (Canada) for the Tony Hawk brand and our new best-in-class domestic Cherokee brand licensees."

Mr. Stupp continued, “During fiscal 2016, our branded retail sales approached $2 billion led by continued international growth and contributions from our strategic acquisitions, which include Flip Flop Shops. Our global footprint currently spans over 9,000 doors in 50 countries worldwide and, with digital presence factored in, we expect our domestic and international brand awareness to grow in 2017.”

“Cherokee Global Brands remains a stable, profitable and growth-oriented company,” added Stupp. “We enter fiscal 2017 with a strong, unlevered balance sheet that will allow us to capitalize on prudent acquisitions while continuing to drive organic growth, particularly in the U.S. as we move forward with our licensing partners for our namesake Cherokee brand. As we continue to add domestic licensees, our efforts are focused on identifying and onboarding new retail partners to ensure continued product placement for Spring 2017.”

Mr. Stupp continued, “Retail is moving faster than ever before and retailers are seeking the vision, agility and scale that Cherokee Global Brands brings to the table. I’m confident that the combination of our 360-degree platform and portfolio of high-equity lifestyle brands will continue to drive differentiation and growth as the rate of retail change accelerates.”

For earnings history and earnings-related data on Cherokee (CHKE) click here.

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