Despite recording an increase in sales for the second quarter, Iconix Brand Group Inc. said Wednesday that its net income fell 31.2 percent.
Iconix attributed the sizable decline to the fact that, a year earlier, it gained approximately $21.5 million related to its 2011 acquisition of the Ed Hardy license.
For the period ended June 30, the New York-based vendor said quarterly income attributable to Iconix totaled $28.6 million, or 40 cents a diluted share. This compared with year-ago income of $41.5 million, or 55 cents a share.
The company reported non-GAAP diluted earnings per share of 45 cents.
Quarterly revenues for the company, which licenses clothing brands such as Badgley Mischka, London Fog and Rocawear, climbed 4.9 percent to $93.6 million, from $89.3 million.
Analysts were expecting EPS of 42 cents on sales of $85.4 million.
“Our specialized business model remains strong and continues to prove its relevance across industries and geographies, as we enter new categories such as entertainment and electronics and new markets such as India,” chairman and chief executive officer Neil Cole said on the company call. “Looking at the future, we see opportunities to organically grow the portfolio both domestically and internationally through our existing partners, new categories and, importantly, global expansion. We believe our portfolio can achieve low-single-digit organic growth on a long-term basis.”
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast