Revenues down $6.7mn at Cherokee in Q2 FY'13

At August 31, 2012, the Company had cash and cash equivalents of approximately $3.2 million, down from $7.4 million at January 28, 2012 due to pre-payment of all outstanding principal and interest on both the Company’s four-year facility and two-year facility with U.S. Bank on June 5, 2012.

"We’re pleased that our strong balance sheet and cash flow enable us to grow and continue to diversify our business," added Mr. Stupp. "As previously discussed, Cherokee is committed to strategic capital allocation and leveraging all available tools to maximize return for our shareholders. Given our current forecasting, management expects that it will recommend next quarter a future dividend of $0.10 per share for the third quarter of Fiscal 2013 to the Board of Directors.”

Cherokee Inc. is a global marketer and manager of a portfolio of Fashion and Lifestyle brands it owns and represents in multiple consumer product categories and sectors around the world.

Cherokee Inc