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

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 May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money