US: Iconix reaffirms outlook as Q3 profit falls 5%
- Q3 profit fell 5.1% to $26.0m
- Revenues slipped 4% to $92.7m
- Reaffirmed FY earnings of $1.63-$1.68 per share
Iconix Brand Group Inc, owner and licensor of brands like Candie's, Bongo, Badgley Mischka, Joe Boxer and Mossimo, has reaffirmed its full-year guidance after posting a 5.1% drop in third quarter profit.
Revenues in the three months to 30 September slipped 4% to $92.7m, down from $96.9m in the same period last year. And net income fell to $26.0m or $0.34 per share, from $27.4m or $0.37 per share the year before.
Nevertheless, the company hailed "another strong quarter," which it said demonstrates "the power of our business model and the strength of our brands."
"As we look to 2012, we are excited about the many opportunities ahead as we continue to grow our platform through new retail partners, new categories and new geographies," added chairman and CEO Neil Cole.
The company reaffirmed its full year revenue guidance of $355-$365m and for earnings of $1.63-$1.68 per share. And for the year ahead, it expects revenues to rise to $370-$385m, with earnings up to $1.77-$1.84 per share, helped by its just-announced acquisition of Sharper Image.
Iconix Brand Group has lowered its full-year forecast after it said it recorded "continued softness" in its men's wear brands, and a delay in government approval for its joint venture in India. ...
Consumer brand company Iconix Brand Group has appointed Seth Horowitz as president of the men's division....
Iconix Brand Group reported a surge in full-year net income on the back of rising sales....
Iconix Brand Group today (22 February) announced a joint venture with Reliance Brands to sell labels like Ed Hardy, Mossimo, London Fog, and Ocean Pacific in India....
- Jordan garment sector strong amid regional unrest
- Why China 5-year plan won't change garment-making
- Navigating a turbulent sourcing landscape
- Supply chains under pressure as Black Friday looms
- C&A building brand loyalty through consistent fit
- US Q3 in brief: DSW, Chico's, Abercrombie & Fitch
- Adidas has greenest textile supply chain in China
- Global clothing and footwear trade to drop by 1.5%
- Cambodia living wage campaign kicks off
- New Balance launches first 3D printed running shoe
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Technical Textile Markets: Product Developments and Innovations - 2nd Quarter 2015
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015