May 9, 2016
Q1 2016 licensing revenue down 1% at Iconix Brands
May 9, 2016
Holding over 30 brands and 1,700 licenses globally, Iconix Brands reported a fall of 1 per cent in licensing revenue to $94.6 million in the first quarter of 2016, ended March 31, as compared to $95.8 million in the corresponding quarter last year.
Women’s segment reported a fall of 1 per cent in licensing revenue to $37.9 million as compared to $38.3 million in the previous quarter of 2015, ended March 31 of last year. Men’s segment saw a fall of 15 per cent in licensing revenue to $20.2 million as compared to $23.7 million last year.
Home segment reported a fall of $9.4 million in Q1 2016 as compared to $10.4 million last year.
Licensing revenue included approximately $1.3 million of revenue related to acquisitions, for which there was no comparable revenue in the first quarter of 2015, and was negatively impacted by approximately $1.0 million, due to the sale of the Badgley Mischka brand in the first quarter of 2016.
Commenting on the results, John Haugh, CEO of Iconix Brands said, “In the almost two months I have been at Iconix, I have spent my time understanding our business and each brand in our portfolio, assessing our marketing capabilities and strategy, meeting with many of our customers and our licensees and working toward crafting our go-forward strategy.”
“I am pleased with our results, and that we remain on track to achieve the guidance that the company provided last quarter. Overall, our portfolio of brands remains healthy with solid businesses across the women's and home segments, a growing entertainment platform and a stabilising men's business,” he added.
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