844161--4/13/2009--CHEROKEE

related topics

{personnel, key, retain}

{property, intellectual, protect}

{regulation, change, law}

{customer, product, revenue}

{interest, director, officer}

{stock, price, share}

{competitive, industry, competition}

Our business is subject to intense competition. Our business is largely dependent on royalties from two licensees, Target and Tesco, which each accounted for 42% of our consolidated licensing revenues in Fiscal 2009. We are dependent on our intellectual property and we cannot assure you that we will be able to successfully protect our rights. We are dependent on our key management personnel. The Management Agreement with our Chief Executive Officer contains provisions that provide for a substantial cash payment to our Chief Executive Officer upon our breach or termination of the management agreement. We may not pay dividends regularly in the future. The implementation of new accounting rules related to the accounting for uncertainty in income taxes affected our reported results of operations and will continue to impact our operating results in subsequent periods. Any subsequent changes in accounting rules may also have an adverse effect on our results of operations.

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844161--4/13/2009--CHEROKEE_INC