Quarterly Profits Up 36% at Cherokee Group
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The Cherokee Group, a North Hollywood apparel company, reported 36% higher profits on 3% higher sales during its third quarter ended Aug. 31. It also predicted record results for the year.
Third-quarter earnings were $1.3 million, or 44 cents a share, contrasted with $935,000, or 33 cents a share, during the same period a year ago. Third-quarter revenue was $22.1 million, versus $21.4 million a year earlier.
Terrance Smith, vice president and chief financial officer, attributed the improved results to a reorganization earlier this year that cut costs and improved margins from more efficient manufacturing.
“We anticipate a strong fourth quarter compared to a year ago, and record results for the fiscal year ending Nov. 30,” Chairman James P. Argyropoulos said in a statement.
For detailed data and results of other companies, please see tables, Page 17.
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