Cherokee Quarterly Profits Up 37% to Cap Record Year

Cherokee Group reported 37% higher earnings on 24% higher sales for its fourth quarter ended Nov. 29, capping a record year. It also scheduled a 2-1 stock split for February.

The North Hollywood-based apparel maker earned a record $1.6 million, or 14 cents a share, on record sales of $24.6 million. In the same quarter a year ago, it earned $1.2 million, or 11 cents, on sales of $19.8 million.

Cherokee had record earnings and sales for the full year. Net income was $6.8 million, or 60 cents a share, on sales of $104.0 million. The year before, net income was $4.3 million, or 38 cents, on sales of $83.6 million. Profit for the year rose 59% on 24% higher revenue.

The company set Feb. 9 as the record date for the stock split. There are now 5.6 million Cherokee shares outstanding. Cherokee’s last split, also 2-1, was in April.

All the figures are adjusted for both splits, the company said.