Cherokee Global Brands Q2 Profit Rises

(RTTNews) - Cherokee Global Brands (CHKE), Thursday reported second-quarter net income of $2.3 million or $0.27 per share, up from $1.9 million or $0.23 per share last year.

Revenues for the second quarter increased 17 percent to $8.8 million from $7.5 million last year, reflecting Tony Hawk signature brand acquisition and continued organic growth.

Analysts polled by Thomson Reuters expected earnings of $0.28 per share on revenues of $8.83 million for the quarter.

"We are very pleased with our top- and bottom-line results for the first-half of Fiscal 2015," said Cherokee Chief Executive Officer, Henry Stupp.

"We fully expect the second half of Fiscal 2015 will continue to show positive developments for Cherokee Global Brands through the execution of our strategic growth plan including the identification of new brand acquisitions and organic growth geographically as well as via category expansion of our existing brands," concluded Stupp.