By  on October 1, 2009

Iconix Brand Group Inc. cut its earnings outlook for the year, surprising Wall Street and prompting a sell-off that drove the stock down 21.1 percent to $12.47.

The company, which licenses and markets a stable of brands, including Candies and Badgley Mischka, said its 2009 earnings would range from $1.06 to $1.11 a diluted share instead of the $1.16 to $1.21 previously projected.

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