US: Organic growth drives Iconix Q2 profit
- Q2 net profit up 27% to US$24.5m
- Revenue up 35% to $76m
- Reiterates FY sales and earnings guidance
Iconix Brand Group posted a 27% increase in second quarter profit to US$24.5m, driven by strong organic growth and a 35% rise in revenues.
The US company’s first half revenues rose 38% to $147.7m, while net income increased 41% to $49.3m.
Iconix reiterated its full-year forecast of revenues of $305-315m, accompanied by diluted earnings per share of $1.23-1.28.
“Our direct-to-retail model has proven to be very powerful and was a key driver of our organic growth this quarter, with the majority of DTR brands posting double-digit retail sales gains,” said Neil Cole, company chairman and CEO.
“We are excited about our new Peanuts platform and the worldwide access it gives us in over 40 countries.”
Consumer goods business Iconix Brand Group has agreed a licensing deal for its Mossimo brand in India with wholesaler, retailer and distributor Arvind....
Clothing maker VF Corporation is to buy the bankrupt upscale denim brand Rock and Republic, acquiring the company's trademarks and intellectual-property rights....
Madonna and Iconix Brand Group has entered into its first international partnership with Hudson's Bay Company (HBC or the 'Bay') to manufacture and distribute its junior brand of 'Material Girl'....
Licensed consumer goods business Iconix Brand Group raised its full-year guidance after seeing third quarter earnings and revenue surge up 32% and 63% respectively....
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