Iconix Brand posts FY19 revenue of $149 million

31 Mar '20

2 min read

Pic: Iconix Brand/ Material Girl

Iconix Brand Group, a US-based premier brand management company, reported its revenue fell 21 per cent to $148.98 million in full fiscal 2019 that ended on December 31, 2019 compared to revenue of $187.68 million in previous fiscal. Revenue if fourth quarter (Q4) FY19 rose 1 per cent to $43.17 million compared to $42.7 million in same period prior year.

“Results for the fourth quarter of 2019 were consistent with management’s expectations, as we continue to stabilise the business and our operational cost structure,” Bob Galvin, CEO of Iconic Brand, said in a press release.

Women’s segment in FY19 reported a drop in revenue to $37.49 million compared to $57.4 million in prior year. Men’s segment revenue were $36.79 million (FY18: $39.07 million). Home segment fell to $14.75 million (FY18: $24.56 million). International segment revenue in FY19 was $59.94 million (FY18: $66.67 million).

Total selling, general & administrative (SG&A) expenses in fiscal declined 31 per cent to $84.0 million compared to $121.4 million in prior year. Operating loss for the year was $30.8 million compared to loss of $119.0 million in prior year.

“Our focus on the business and decreasing costs continue to help improve our Adjusted EBITDA margin. We continue to develop our pipeline of future business, as we signed 191 deals during 2019 for aggregate guaranteed minimum royalties of approximately $135 million,” Galvin said.

Fibre2Fashion News Desk (JL)

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