Iconix Net Rises 2 Percent in 3Q

NEW YORK-Reductions in expenses offset a soft sales quarter as Iconix's net income edged up 2 percent in its third quarter, to $31.6 million.

The brand management company slimmed selling, general and administrative expenses by 2.1 percent in the quarter, which ended on Sept. 30. In addition, interest expense was cut by 43 percent. Net sales dived 6.6 percent to $86.6 million.

Neil Cole, Iconix's chairman and CEO, said the company has put forth "several exciting initiatives" that provide the seeds for long-term growth, including its acquisition of the Umbro brand and the debut of a new Peanuts movie. In addition, Iconix remains focused on expansion in international markets, which, Cole said, can grow to about 40 percent of the company's total business.

Iconix also has what Cole termed "a strong acquisition pipeline" and continues to evaluate opportunities that could come to fruition in the near term. "With 29 brands in our portfolio, inclusive of Umbro, that represent over $13 billion in annual retail sales, we believe our company is stronger than ever," he said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.