Cherokee, which bought Hi-Tec Sports last year and licensed it out, reported revenues of $7.8 million from the brand for the fourth quarter ended Jan. 28, comprising licensing revenues of $1.2 million and $6.6 million worth of indirect product sales related to distribution and government contracts. The business generated a gross profit of $1.5 million. For the full financial year, Cherokees revenues reached $40.6 million, up from $34.7 million in the prior year, but they would have declined without Hi-Tec's contribution. Its adjusted Ebitda for the year was down to $13.4 million from $15.9 million. Cherokee says that retailers have shown interest for expanded offerings under the Hi-Tec brand including apparel and accessories.
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