SGB Apparel

Cherokee Shares Tumble On Q1 Loss, Covenant Violation

Shares of Cherokee Global Brands were trading down $2.85, or 37 percent, to $4.90 in mid-day trading Friday after the company reported a surprise first-quarter loss and said it was seeking amendments to comply with certain covenants in its credit facility.

Cherokee Global Brands Posts Q1 Loss

Cherokee Global Brands, the parent of Hi-Tec, Tony Hawk Signature Apparel and Flip Flop Shops, reported a loss in its first quarter ended April 29, impacted by the decision by Target, the discount chain, to stop selling the Cherokee brand. The company also said it was seeking an amendment related to a non-compliance with covenants under its credit facility.

Outdoor Retailer Trade Show Moving To Denver

Emerald Expositions LLC announced it had selected Denver for the site of all Outdoor Retailer tradeshows, including Outdoor Retailer + Snow Show, Outdoor Retailer Summer Market and Outdoor Retailer Winter Market, which will move to November in 2018. It is intended that Grassroots Connect will co-locate in Denver with Outdoor Retailer when an appropriate venue is procured.

OIA’s Executive Director Touts Benefits Of Denver Move

In a letter to OIA members, Amy Roberts, executive director of the Outdoor Industry Association (OIA), spelled out the benefits of the move of the Outdoor Retailer show to Denver, including shifting the dates to the front end of the ordering cycle, significantly reduced booth rates and less travel for the industry with the combined Winter Show.

QVC To Merge With HSN

Liberty Interactive Corp., the parent of QVC ,announced that they have entered into an agreement whereby Liberty Interactive will acquire the 62 percent of HSNi it does not already own in an all-stock transaction.

Denver Expected To Land Outdoor Retailer Show

With a “major announcement” to be disclosed at a press conference early Thursday morning featuring Colorado’s Governor, Denver’s Mayor and the head of the Colorado Outdoor Recreation Industry Office, the famed Outdoor Retailer Show is expected to announce a move from Salt Lake City to Denver.