Cherokee Q2 revenues down 10 percent, lowers full year outlook

Cherokee Global Brands posted 10 percent drop in its second quarter revenues, which the company said, reflected the continuing transition from the company’s direct-to-retail licenses in the United States to wholesale licenses, partially offset by growth in royalty revenues from the Cherokee brand and the Hi-Tec portfolio of brands. Narrowing its guidance for the fiscal year ending February 2, 2019, Cherokee said, it expects revenues in the range of 25 to 26.5 million dollars and adjusted EBITDA in the range of 8.5 dollars to 10 million dollars.