Cherokee Global Brands: Q4 and full year revenues decline

Cherokee Global Brands, for its fourth quarter and fiscal year ended February 2, 2019, reported revenues of 6.1 million dollars, a decrease of 11 percent, which the company said, largely reflects the expiration or non-renewal of several licensing agreements. These declines were partially offset by revenues from the company’s new multi-year product development and design agreement with a major retailer in China, as well as a 12 percent improvement in revenues from the Hi-Tec brand portfolio. The company also announced its intention to rebrand as Apex Global Brands following the company’s June annual shareholder meeting.