CHEROKEE INC. (NASDAQ:CHKE) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.

On May3, 2017, Cherokee Inc. (theCompany) received a written
notice (theNotice) from the Listing Qualifications Department of
the NASDAQ Stock Market (NASDAQ), stating that the Company is not
in compliance with NASDAQ Listing Rule 5250(c)(1) for continued
listing because the Company has not timely filed with the U.S.
Securities and Exchange Commission (SEC) its Annual Report on
Form 10-K for its fiscal year ended January28, 2017 (theAnnual
Report). The Notice was issued in accordance with standard NASDAQ
procedures and has no immediate effect on the listing or trading
of the Companys common stock on the NASDAQ Global Select Market.

As previously disclosed in the Companys Notification of Late
Filing on Form 12b-25 filed with the SEC on April13, 2017, the
delay relates to the financial results of the Hi-Tec family of
footwear brands the Company acquired in December2016, which are
required to be included in the Companys consolidated financial
statements to be contained in the Annual Report. The complexity
of the integration and consolidation of the acquired assets has
necessitated substantial additional review procedures and staff
work, which has required more time for the Company to complete
its consolidated financial statements for the period.

The Notice indicates that the Company has until July3, 2017 to
submit a plan to regain compliance with NASDAQs applicable
continued listing standards. The Company expects to file the
Annual Report as soon as reasonably practicable and intends to do
so on May11, 2017, which would result in regained compliance with
NASDAQs continued listing standards and eliminate the requirement
to submit a compliance plan to NASDAQ.

On May5, 2017, the Company issued a press release disclosing the
receipt of the Notice. A copy of the press release is attached as
Exhibit 99.1 to this report and incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits.

About CHEROKEE INC. (NASDAQ:CHKE)

Cherokee Inc. is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors. The Company operates in the segment of marketing and licensing of brand names and trademarks for apparel, footwear and accessories. It is a licensor of style focused lifestyle brands for apparel, footwear, home products and accessories. It performs a range of services, including marketing, solicitation of licensees, contract negotiations and administration and maintenance of license or distribution agreements, among others. It operates in the United States, Canada, Latin America, Asia, the United Kingdom and Europe. Its brands are licensed with retail and wholesale licensees in over 50 countries and approximately 9,000 retail locations.

CHEROKEE INC. (NASDAQ:CHKE) Recent Trading Information

CHEROKEE INC. (NASDAQ:CHKE) closed its last trading session up +0.05 at 8.25 with 18,163 shares trading hands.