Iconix Net Falls 12 Percent in First Quarter

NEW YORK-A drop in revenues and a 41 percent increase in interest expense pushed Iconix Brand Group's first-quarter net income by 12 percent, to $27.6 million.

Licensing and other revenue for the brand holding company fell 4.2 percent to $88.5 million in the quarter, which ended on March 31. Selling, general and administrative expenses were slimmed by 3.5 percent, but increased 28 basis points as a percentage of sales to 34.9 percent.

Iconix said it has revised its revenue projections for the full 2012 fiscal year to from $340-350 million, down from a previous call for between $370-385 million.

While foreseeing "challenges" for Iconix in the short term, Neil Cole, chairman and CEO, said the long-term outlook continues to be positive. Cole said Iconix will "remain focused on acquisitions to deliver additional value to our shareholders."

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.

Videos

  • 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

    HFN's DIGITAL EDITION

    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.


    ALSO IN THIS ISSUE:

    • 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.