Cherokee Group Foresees 40% Increase in Earnings

Cherokee Group Chairman James P. Argyropoulos predicted his North Hollywood-based apparel and shoe concern will post about 40% higher earnings on 15% higher sales for its third quarter ending Aug. 30.

For the 1985 third quarter, Cherokee earned $1.3 million, or 22 cents a share, on sales of $22.1 million. For the first six months of the current fiscal year, earnings rose 89%, to a record $3.4 million, or 61 cents a share, on 26% higher sales of $52.6 million, also a record.

Argyropoulos also said the company will exceed its goal of increasing sales and earnings 20% for the fiscal year ending Nov. 30.