International News - Target extends Cherokee deal

US general merchandiser Target is to extend its licensing agreement with clothing brand Cherokee until January 2005.

The label has been a success for Target and is sold by Tesco in the UK and Ireland, and Carrefour throughout Europe. Target began selling Cherokee in 1995.

Cherokee chief executive Robert Margolis said: 'This template has become an integral part of worldwide retailing.'

Separately, Target announced a net retail sales increase of 7.7 per cent to US$2.74 billion (£1.69 billion) for the four weeks to February 1, but like-for-like sales were down 0.4 per cent.

Target chief executive Bob Ulrich said sales were lower than expected last month.