NEW YORK — Iconix Brand Group Inc. on Thursday posted a gain in third-quarter net income and reaffirmed full-year 2012 guidance.
For the three months ended Sept. 30, net income attributable to Iconix Brand Group rose 4.5 percent to $27.1 million, or 38 cents a diluted share, from $26 million, or 34 cents, last year. Licensing and other revenue fell 6.6 percent to $86.6 million from $92.7 million.
The company said free cash flow for the third quarter was $43.2 million, or 61 cents a diluted share, versus $44.6 million, or 59 cents, last year.
Neil Cole, chairman and chief executive officer, said in a conference call to Wall Street analysts, “While 2012 has had certain challenges for us with the transition of the Royal Velvet license and a tough men’s business, we were excited about our growth prospects heading into 2013 as we further expand our international footprint, and begin to see stabilization in some of our men’s brands.”
In the men’s brands, Cole said the company expects to see improvement in 2013 as it focuses on expanding distribution, “specifically for our Rocawear brand.” The top performing women’s brands were Bongo, Rampage and Badgley Mischka.
“This fall Truth or Dare launched its footwear collection in Macy’s and Nordstrom, and will be introduced in the intimate collection for holiday. Material Girl will be rolling out to all Macy’s junior doors by next spring,” Cole said.
The ceo added that in 2013, with the Umbro acquisition from Nike Inc. for $225 million that was revealed last week, “we already expect international to represent approximately 30 percent of our business. Combining the Peanuts and Umbro businesses with our Latin America, Europe, China and India joint ventures, we will have an extremely strong presence and platform across the world that should facilitate growth to the entire Iconix portfolio.”
Cole said Umbro is expected to generate $40 million to $45 million of royalty in 2013.
The company reaffirmed full-year 2012 guidance and expects to achieve the higher end of its revenue guidance of between $340 million and $350 million. Iconix also reaffirmed its 2012 free cash flow guidance of between $174 million and $181 million.
For 2013, Iconix projected revenues of between $395 million and $405 million, and a diluted earnings per share range of $1.75 to $1.85.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)