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....
- SOURCING: Worldwide change in cost competitiveness
- Gap audits reveal compliance issues in Myanmar
- Water scarcity a challenge to cotton supply chains
- Abercrombie & Fitch to lose logos in fashion focus
- Li & Fung looks to new frontiers for growth
- Adidas to use only Bluesign-approved chemicals
- Accord and Alliance discord "a setback"
- 'Cotton of the Carolinas' grows reshoring efforts
- Myanmar and US to develop labour rights initiative
- China and India sign MoU to explore textile ties
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- China - ISA Country Report