SHERMAN OAKS (Yosefardi) – Cherokee Inc., a global marketer of style-focused lifestyle brands, reported a Very productive first-half of fiscal year 2014 for the Cherokee Group.
Net revenues for the second quarter ended August 3, 2013 were $7.5 million, an increase of approximately 19% from $6.3 million in the prior-year period.
The Company’s international business also continued to see growth during the quarter, marked by further global expansion into the Middle East and Indonesia.
Additionally, during the second quarter, the devaluation of several foreign currencies, including the Japanese Yen, Indian Rupee, and South African Rand, resulted in an approximately $131,000 unfavorable impact to revenues.
At August 3, 2013, the Company had cash and cash equivalents of $2.8 million, compared to $2.4 million at February 2, 2013.