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HotPix 2010
MR's Annual look at interesting companies that might be under your radar, as published in the April 2010 issue. Click here to browse.
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NEW YORK—Iconix Brand Group reported second quarter earnings of nearly $50 million, up 18 percent from the previous year’s second quarter. Revenue was up 35 percent to $76.0 million.
“As we deliver a record second quarter for our company, we believe the advantages of our business model and strength of our brands are evident,” commented CEO Neil Cole. “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. We are excited about our new Peanuts platform and the worldwide access it gives us in over 40 countries. As we leverage our global platform, expand into new categories, launch new programs with major retailers, and continue to add iconic global lifestyle brands to our portfolio we believe our Company is well positioned to continue to deliver strong profitable growth.”
The company’s guidance remains the same, with earnings per share predicted at between $1.35 and $1.40.
Iconix’s owned brands include Joe Boxer, London Fog, Mossimo, Ocean Pacific, Rocawear and Starter. The company owns an interest in Ed Hardy, Ecko and others.
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