Apex Global Brands reports decline in Q2 and H1 revenues

Second quarter revenues at Apex Global Brands of 5.6 million, decreased 21 percent, reflecting decreases in the company’s Cherokee and Hi-Tec royalties in Europe, and the non-renewal of the company’s Cherokee license in South Africa at the end of fiscal 2019. The company said in a statement that economic uncertainty related to Brexit continues to impact several of the company’s European licensees and the strong U.S. dollar in relation to the British pound sterling and euro reduces the dollar value of the European royalty revenues. Revenues for the first six months were 10.7 million dollars, a decrease of 15 percent.