US: Expansion tactics pay off in Iconix's Q1
Iconix Brand Group said it pushed up its first-quarter earnings and revenue thanks to growing its existing brands and adding on new ones.
The brand manager and licensor, which is on line to buy the Mossimo brand, said quarterly net income was US$7.4m compared to $800,000 last year. Licensing revenue went up to $13.3m from $4.3m a year ago.
Chairman and CEO Neil Cole said: "These are our first year-over-year comparable results as a brand management company and they begin to indicate the strength of our growth strategy and the scalability of this business model.
"Our performance in the quarter was nicely balanced between continued expansion of our brands Candie's, Bongo and Badgley Mischka, and a significant contribution from newly acquired brands Joe Boxer and Rampage.
"We are pleased about closing on our sixth brand, Mudd, and believe that it will be a very strong contributor to our earnings for many years to come."
The company agreed this week to pay off rival bidder for Mossimo, Cherokee, with $33m cash in order to pursue its acquisition of the brand.
Brand licensor Cherokee said it would withdraw its takeover offer for the Mossimo brand if rival bidder Iconix pays it US$33m in cash....
Apparel licensor Mossimo has signed a confidentiality deal with suitor Cherokee allowing it to access information needed to decide whether to accept Cherokee's US$135m offer to buy the company....
Global licensor and brand management company Cherokee Inc has signed an international license agreement with South African store group Pick'n Pay Retailers....
Apparel marketer Cherokee has posted a third-quarter pre-tax income rise, as retail sales grew in the company's four largest accounts....
Brand licensing group Cherokee Inc has reported a 10.4 per cent rise in second-quarter net revenues, and says it sees many growth opportunities ahead....
Licensor and brand management company Cherokee Inc says its client Hot Kiss Inc - a footwear and accessory company - has entered into an exclusive international license agreement for its Hot Kiss and...
Apparel trademark licensor Iconix Brand Group Inc has signed a deal to buy the Joe Boxer Brand from Joe Boxer Company LLC and its affiliates....
US retail group Candie's Inc has revealed that it will change its corporate name to Iconix Brand Group Inc on 1 July, and will trade on the NASDAQ stock exchange under the ticker symbol ICON....
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