Shares of Iconix Brand Group Inc. vaulted more than 10 percent Tuesday after the owner and licensor of fashion brands, including Candie’s and Joe Boxer, matched Wall Street’s expectations with an 11.3 percent jump in second-quarter profits.
For the quarter ended June 30, the New York-based company reported net income of $16.5 million, or 27 cents a diluted share, compared with $14.8 million, or 24 cents a diluted share, in the year-ago period. Revenue for the quarter, all derived from licensing, increased 32.3 percent to $51.7 million, versus $39.1 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)