October 27, 1992 |
Cherokee Inc. is a clothing company in trouble, and one of its many problems is visible during a stroll through a Mervyn's department store--its biggest customer. In the women's section, which is Cherokee's main market, the space Mervyn's devotes to Cherokee's casual shirts and pants has been shrinking in favor of the popular Dockers line made by apparel powerhouse Levi Strauss & Co. "Our real estate was cut back," concedes Robert Margolis, Cherokee co-chairman.
August 3, 1993 |
Guess Inc. founder Georges Marciano, who led the jeans maker through explosive growth and a bitter legal war with rival Jordache, is resigning as Guess chairman and chief executive, Bloomberg News Service reported Monday. Marciano, 46, also is selling his 40% stake in privately held Guess back to the Los Angeles-based company for an undisclosed price, Bloomberg said. That would leave his three brothers, Maurice, Paul and Armand, as the only owners of the company.
August 10, 1993 |
News that French designer Georges Marciano is resigning as chief executive of Guess? Inc., the Los Angeles-based clothing company that he and his three brothers founded, was the talk of the apparel industry last week. Perhaps especially so at Cherokee Inc., a Sunland-based maker of women's clothing that has taken Marciano's fancy. On the day reports surfaced last week that Marciano was leaving Guess?, Cherokee's stock surged 40%, to $4.38 a share, on unusually heavy trading volume.
January 30, 1996 |
A year ago, Cherokee Inc. was on the verge of extinction. The Van Nuys supplier of casual apparel and footwear had just squeaked through its second bankruptcy reorganization in less than two years, and was still bleeding money. That's when Robert Margolis, who had resigned as Cherokee's chief executive in 1993, saw an opportunity.
June 22, 1993 |
Georges Marciano, chairman and chief executive of Beverly Hills jeans maker Guess? Inc., has acquired a 19.9% stake in Cherokee Inc., the Sunland-based apparel company that recently emerged from bankruptcy reorganization. In a filing with the Securities and Exchange Commission, Marciano said he bought 995,000 shares of Cherokee's common stock in early June, paying $3.75 to $4.38 a share, for a total of about $4.1 million.
CALIFORNIA | LOCAL
September 21, 1999 |
Cherokee Inc., now closely tied with the Target chain, found success when it stopped making clothes and started licensing its brand name instead. The company, which licenses the Cherokee and Sideout brands to other manufacturers and retailers, was recently sought out by MGM Entertainment for advice on how to launch its own licensing enterprise. The company has come back from two Chapter 11 bankruptcies this decade to post net earnings of $2.
October 6, 1998
Van Nuys-based Cherokee, which licenses its brand name to various clothing firms for a fee, has entered into an exclusive three-year U.S. licensing agreement in which a division of Bausch & Lomb Inc. will make and sell sunglasses bearing Cherokee's Sideout label. Other terms of the deal, including the royalty payment to Cherokee, were not immediately disclosed. The agreement with Denver-based Outlook Eyewear expands the product line marketed under the Sideout trademark.
October 19, 1993
Cherokee Inc., which emerged from bankruptcy reorganization in May, reported a profit of $297,000 for its fiscal first quarter, in contrast to a loss of $4.28 million a year earlier. For the three months ended Aug. 28, the Sunland-based women's clothing maker posted sales of $34 million, down 17% from $41 million in the comparable period a year earlier.
April 23, 1991
Cherokee Inc., a Sunland apparel maker, hopes to raise up to $22 million in a public stock offering. Last fall, Cherokee scrapped earlier plans to raise about $40 million through a public offering. Now that the stock market has staged a recovery, Cherokee hopes to use the proceeds from selling 2.5 million common shares--which it expects to cost $7 to $9 each--to buy back some of the company's notes on the open market, to repay some bank debt and for working capital.