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.”
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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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