>>
Home / Knowledge / News / Apparel/Garments / Iconix Brand total revenue down 23% to $35.5 mn in Q3 2019

Iconix Brand total revenue down 23% to $35.5 mn in Q3 2019

14
Nov '19
Pic: Iconix Brand Group
Pic: Iconix Brand Group
Total revenue of Iconix Brand Group decreased by 23 per cent to $35.5 million in Q3 of fiscal 2019 ending September 30, compared to $46.2 million from the prior year quarter. For the nine months ending September 30, 2019, total revenue was $105.8 million, a 27 per cent decline, compared to $145 million in the nine months ending September 30, 2018.

The adjusted EBITDA increased 30 per cent from the prior year quarter, while adjusted EBITDA margin improved to 59 per cent from 35 per cent in the prior year quarter.

The decline in the third quarter of 2019 was principally as a result of the transition of the company’s Danskin and Mossimo direct to retail licenses in its women’s segment. Its revenue for the third quarter of 2019 was also impacted by the effect of the Sears bankruptcy on its Joe Boxer and Bongo brands in women’s and the Cannon brand in home. While Iconix recently signed new agreements with the new Sears and Kmart for the Cannon and Joe Boxer brands, the overall revenue for the Cannon and Joe Boxer brands was down year over year.

The men’s segment revenue increased 9 per cent in the third quarter of 2019, compared to the prior year quarter primarily from the Buffalo and Starter brands. The international segment declined 17 per cent in the third quarter of 2019 primarily as a result of poor performance of Umbro in China and Umbro and Lee Cooper in Europe.

“Results for the third quarter of 2019 were consistent with managements’ expectations, as we continue to stabilise the business and our operational cost structure. Our focus on the business and costs continue to help improve our adjusted EBITDA margin. We continue to develop our pipeline of future business, as we have signed 155 deals year to date for aggregate guaranteed minimum royalties of approximately $126 million. Additionally, we have entered into an agreement regarding our shareholder class action litigation and an agreement in principle regarding the SEC investigation, potentially putting both of these lingering legacy matters behind us,” said Bob Galvin, CEO of Iconix Brand.

Iconix Brand Group, Inc, owns, licenses and markets a portfolio of consumer brands including: Candie's, Bongo, Joe Boxer, Rampage, Mudd, Mossimo, London Fog, etc. The company licenses its brands to a network of retailers and manufacturers.

Fibre2Fashion News Desk (PC)


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Jan 2022

China to optimise energy production, supply, storage, sales

As the global energy market faces complicated situations, China’s top ...

Pic: Dreamstime.com

Apparel/Garments | On 21st Jan 2022

Bangladeshi garment, accessory makers form joint panel to boost export

The Bangladesh Garment Manufacturers and Exporters Association, the...

Pic: Shutterstock

Textiles | On 21st Jan 2022

New cargo trains link China's Inner Mongolia, Fujian to Moscow

A new cargo train carrying 50 containers departed on January 12 from...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Global supply chain collapsed during the pandemic

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

G Tumbarello,

G Tumbarello

Lilly + Sid is an award-winning organic children's clothing company from...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Juan Pares Boj,

Juan Pares Boj

Textil Santanderina is a cutting-edge textile company located in...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Frank Heislitz, Freudenberg Performance Materials

Frank Heislitz
Freudenberg Performance Materials

Freudenberg Performance Materials is a leading global manufacturer of...

Kamal Khushlani, Mufti

Kamal Khushlani
Mufti

Based out of Mumbai, Mufti is a men’s clothing fashion brand. In an...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Decathlon
Aramark Uniform ;& Career Apparel, LLC
H;&M Hennes ;& Mauritz (Far East) Ltd
Splash
Phong Phu international JSC (PPJ)
Vianney Textil Hogar S.A. De C.V.
The LYCRA Company Singapore  Pte. Ltd
Benetton Group
Calvin Klein
Helly Hansen Far East Ltd
OVS Hong Kong Sourcing Ltd.
NITI Aayog
IKEA of Sweden AB
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Abit
Tchibo GmbH
Midas Clothing Limited
Landmark Group
Arvind Limited
Sateri (Jiujiang) Fiber Co.,Ltd
Grasim Industries Limited
Green Fibre
Hirdaramani International Export Private Limited
G-Star Raw C.V.
Lifestyle
Reiter India Private Limited
Recron Polyester from Reliance Industries Limited
Asos
Gloria Jeans
Lacoste (Wanchai)
Lululemon Athletica Inc
Rosset ;& Cia Limited
Hela Clothing Pvt Ltd
J ;& P Coats
KAS Direct Sourcing
Seasalt Limited
C;&A Sourcing International Ltd
Guess Europe Sagl,
Lenzing Aktiengesellschaft
Chori Company Limited
Under Armour Global Sourcing Ltd
Gap International Sourcing Limited
Tory Burch Hong Kong Ltd
KIABI
Sportmaster Ltd.
Sainsbury's Argos Asia Limited
TESCO INTERNATIONAL SOURCING LIMITED
T.T. Limited
Gatsby Africa
Alix Partners
IDH – The Sustainable Trade Initiative
Vardhman Textile Ltd
Boardriders Asia Sourcing Limited
Huntsman (Singapore) Pte Ltd
Etam Group Strategy Hong Kong Limited
Babyshop
LC Waikiki
PVH Corporation
Rayonese Textile Inc., Division de Culp Inc.
Eastman Chemical Company
Desigual - ABASIC, S.A.
Tommy Hilfiger
Sportswear Company Spa
Cat Tuong Real Estate Group Joint Stock Company
Bluestem Global Sourcing Limited
Groz-Beckert East Asia LLP
MAS Active / MAS Kreeda / MAS Bodyline
Amazon China
THE BOMBAY DYEING ;& MFG.CO. LTD
Varner AS Retail
BIMBA ;& LOLA SL
Page Industries Limited (Bangalore)
Permoda(Koaj/Armi/Pronto/Bkul)
Target Corporation (MN)
Chico’ FAS
The Top Form Brassiere Manufacturing Company Limited
Maceton Limited
John Varvatos
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Esprit Europe Services GmbH
SHAHI Exports Pvt Ltd
Truetzschler India Private Limited
SYNERGIES HONG KONG LIMITED
International Textile Manufacturers Federation
Lisa S.P.A.
Gokaldas Exports Limited
Restoque S.A.
Brandix Lanka Limited
Aquarelle Clothing Limited
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search