Cherokee's Q1 adjusted EBITDA improves 20 percent

Cherokee Global Brands for its first quarter ended May 5, 2018 reported revenues of 5.4 million dollars compared to 6.8 million dollars, same quarter last year. While adjusted EBITDA increased 20 percent to 1 million dollars, operating loss was 0.2 million dollars compared to a loss of 2.3 million dollars and net loss was 2.7 million dollars or 0.20 dollar per diluted share against 3,529 million dollars or 0.27 dollar last year.

“We are pleased with the progress made during our first quarter of fiscal 2019 as we continue to streamline our operations and reduce our operating expenses. With the sale of Flip Flop Shops complete, we look forward to leveraging our more focused platform to drive profitable growth within our existing brand portfolio and partners while building awareness and traction among new partners,” said Henry Stupp, the company’s CEO in a statement.

Cherokee updates FY19 outlook

The company, updating its guidance for the fiscal year ending February 2, 2019, to account for cost reduction efforts, the sale of Flip Flop Shops and the corresponding loss of revenues said that revenues are now anticipated to be in the range of 25 to 27 million dollars.

Adjusted EBITDA is expected to remain in the range of 8 to 10 million dollars and SG&A run rate is now expected to approximate 17 million dollars, a reduction of 8.4 million dollars from fiscal 2018.

Picture:Facebook/Hi-Tec Europe