Iconix Brand Group, Inc announced that its Board of Directors has authorized a new program to repurchase up to $500 million of its common stock over a three-year period.
The Company has approximately $110 million remaining under the previous $300 million stock repurchase program which was approved by the Board of Directors in July 2013.
The Company intends, from time to time, as business conditions warrant, to purchase stock in the open market or through private transactions. Purchases may be increased, decreased or discontinued at any time without prior notice.
The program does not obligate the Company to repurchase any specific number of shares and may be suspended at any time at management's discretion.
About Iconix Brand Group, Inc.
About Iconix Brand Group, Inc. Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments, Iconix manages its brands to drive greater consumer awareness and equity.