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Iconix reports total revenue of $35.9 million for Q1 2019

18
May '19
Pic: Iconix
Pic: Iconix
Clothing marketer Iconix Brand has reported total revenue of $35.9 million for Q1 2019 ending March 31, 2019, a 26 per cent decline as compared to $48.5 million in Q1 2018. The decline was due to transition of Iconix’s Danskin and Mossimo direct to retail licenses in Womens segment and by effect of the Sears bankruptcy on brands in its Womens and Home segment.

The company’s Mens segment revenue increased 10 per cent in Q1 of 2019, compared to the prior year quarter primarily from the Starter and Buffalo brands. Iconix’s international segment declined 15 per cent in Q1 of 2019 primarily as a result of performance of its Diamond Icon joint venture, which was higher in the prior year due to sales leading up to the World Cup, said Iconix in a press release.

“Results for the first quarter of 2019 were as expected, as we continue to stabilise the business and our operational cost structure. We also continue to build the pipeline of our future business, as we have signed 65 deals year to date for aggregate guaranteed minimum royalties of approximately $40 million,” said Bob Galvin, CEO of Iconix. (PC)

Fibre2Fashion News Desk – India


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