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Cherokee fiscal Q2 profit falls 15.1% YOY


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Cherokee fiscal Q2 profit falls 15.1% YOY

Cherokee Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was 21 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS decreased 19.8% year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.9 million, a decrease of 15.1% from $2.2 million in the prior-year period.

The normalized profit margin fell to 21.9% from 25.0% in the year-earlier period.

Total revenue decreased year over year to $8.5 million from $8.8 million, and total operating expenses increased 5.8% from the prior-year period to $5.3 million from $5.1 million.

Reported net income fell 13.8% on an annual basis to $2.0 million, or 22 cents per share, from $2.3 million, or 27 cents per share.