×
250
Fashion Jobs
RELIANCE INDUSTRIES LTD
Sales Officer - Saree Specialist - Chennai t.Nagar
Permanent · CHENNAI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · HYDERABAD
SPACE CONSULTANTS
Manager-Sales&Marketing
Permanent · Bhiwani
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · PANCHKULA
GENIUS CONSULTANTS LIMITED
HR Executive(Female)@Leading Hosiery Manufacturing Company in Agarpara
Permanent · KOLKATA
SHOPPERS STOP LTD
Unit HR Head
Permanent · MUMBAI
FLOOR & FURNISHINGS INDIA PRIVATE LIMITED
Sales Executive/ Sales Officer
Permanent · PANCHKULA
SELECTIVE GLOBAL SEARCH PVT. LTD.
Retail Sales Executive
Permanent · MUMBAI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · HALDWANI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · Aligarh
SREEDHARA TEXTILES PRIVATE LIMITED
Deputy Manager - Fabric
Permanent · COIMBATORE
PANACEA VENCER
we Have Opening For Accounts Manager & Finance Manger For Garments
Permanent · COIMBATORE
JOBZ DADDY
Category Head For Home Decor of The Top Most Designer of India
Permanent · GURUGRAM
SMART SOURCE
Manager Market Place - Leading Fashion Retail - Bangalore
Permanent · Bengaluru
NCDI PLACEMENT CONSULTANCY
Accounts Executive For Retail Industry
Permanent · Lucknow
NCDI PLACEMENT CONSULTANCY
Customer Relationship Managere For Retail Industry
Permanent · LUCKNOW
PRIME PLACEMENT AND MANPOWER SERVICES
International Sales Executive - Female - Khokhra - Ahmedabad
Permanent · Ahmedabad
MIRRAW.COM
Production Manager | Mirraw
Permanent · MUMBAI
LIFESTYLE BRANDS
Senior Executive - Accounts - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Area Manager-Projects Execution (Telangana &Amp; Andra Pradesh)-Hyderabad
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Financial Manager - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Training Manager, Planet Fashion - Bangalore
Permanent · BENGALURU

Iconix Brand Group Q1 2017 sales decline, debt payment plan in place

By
Published
today May 11, 2017
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Iconix Brand Group reported Q1 2017 revenue down 11% to $58.7 million. Q1 also saw the strategic sale of its entertainment segment for $345 million in cash, which will provide the bulk of cash used to reduce company debt by $362 million.


Iconix Brand Group

John Haugh, CEO of Iconix commented, "Over the past year, we have been focused on two key priorities- improving the balance sheet and driving organic growth... Further, we believe we can generate the most value and growth for our Company with a portfolio that is focused on businesses where we believe we have a leadership position- fashion, active and home."

The Peanuts and Strawberry Shortcake brands of Iconix' entertainment segment will be sold to DHX Media to fulfill the first corporate goal of paying down debt. Proceeds of the sale will be used along with extra cash on hand to pay down Iconix' $362 million of debt. The deal is expected to close by the end of Q2.

The company reports that the loss of sales from the entertainment segment will be offset by savings on interest payments on Iconix' existing debt. The sale will enable the company to fully extinguish an outstanding $260 million loan.

With respect to the second corporate goal of organic growth, Iconix' fashion brands have been hustling to stay competitive and relevant. The company lost licensing revenue from the Badgley Mischka brand which it sold in 2016. Previously that label generated $0.2 million licensing revenue alone.

Iconix sold the Badgley Mischka trademark rights for $11 million. Current fashion brands in the Iconix portfolio include Joe Boxer, Rampage, Material Girl, Rocawear and Ed Hardy.

Haugh continued, "as it pertains to organic growth, there have been some challenges, but we are working on initiatives that should drive improved revenue performance in the back half of the year."

In action sports, one such organic growth project includes Iconix lifestyle brand Ocean Pacific (OP) being selected to play a part in Urban Outfitters' exclusive Icons of Culture curated collection. Vintage OP styles and graphics will be revitalized and reintroduced to the market. The initiative is designed to bring heritage brands to a new generation of consumers this summer. 


 

Copyright © 2020 FashionNetwork.com All rights reserved.

See also