US: Iconix hails strong start with Q1 profit surge
- Q1 adjusted net income up 25% to US$33.7m
- Q1 revenue up 29% to $92.4m
- Increases FY sales and earnings guidance
Iconix Brand Group is increasing its forecasts for the full year after a buoyant first quarter which registered strong double-digit increases in sales and profits.
Neil Cole, chairman and CEO of the US consumer goods company, said 2011 was “off to a strong start”, with the company outperforming its expected revenue and earnings figures during the quarter.
“Our outperformance was driven by strength across our portfolio of brands, most notably our direct-to-retail brands, which continue to gain shelf space.
“We are making progress internationally and are particularly excited about the opportunity in China as our partners open hundreds of stores for our brands.”
Iconix is now targeting full-year revenues of $355-365m, raising its full-year guidance for diluted earnings per share to $1.63-1.68.
Click here to view the company's results in full.
Rocawear, the $800m US Street brand formed by rapper Jay Z, is the first label being relaunched by the European licensing unit set up by Iconix Brands to spearhead its expansion into the continent....
Iconix Brand Group Inc, which licenses fashion and footwear labels like Candie's, Bongo, London Fog and Joe Boxer, has booked a 69% jump in second quarter profit, and says it is taking full ownership ...
- Li & Fung looks to new frontiers for growth
- Gap impressed with supply chain improvements
- Cambodia's future outsourcing prospects uncertain
- Impact of the TPP on the US textile industry?
- Better Work programme poised to expand
- China minimum wage rises will be tough to handle
- Cambodia garment industry hit with fresh strikes
- Cambodia mass faintings rise to 896 in first-half
- Ralph Lauren unveils high-performance Polo shirt
- Russia threatens ban on western apparel imports
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Turkey
- Opportunities and Applications for Digital Textile Printing
- Colombia - ISA Country Report