 Standard & Poor's Ratings Services upgraded its outlook on Iconix Brand Group, Inc. to stable from negative. According to Standard & Poor's, the upgrade primarily relates to Iconix's ability to maintain its current operating performance amid a weak retail environment, reduce its debt level and improve credit protection measures, and sustain an adequate liquidity profile. The ratings on Iconix also reflect the diversity and strong recognition of Iconix's brands, the Company's high margins, high cash flow and royalty income based business model.
Iconix Brand Group Inc. owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S, BONGO, BADGLEY MISCHKA, JOE BOXER RAMPAGE MUDD, LONDON FOG, MOSSIMO OCEAN PACIFIC, DANSKIN ROCA WEAR, CANNON, ROYAL VELVET, FIELDCREST, CHARISMA, STARTER and WAVERLY.
In addition, Iconix owns an interest in the ARTFUL DODGER and ED HARDY 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 around the world. Iconix, through its in-house advertising, promotion and public relations agency, markets its brands to continually drive greater consumer awareness and equity. |