Iconix Performance Suffered Crisis And Profit Plunged Alexander

Iconix launched a poison pill plan to preserve its old UMBRO football brand, but it seems that the remedy is of little use.

A few days ago, Iconix released its first quarter earnings report, and its Iconix profits plunged repeatedly.

It is reported that in the first quarter of the group,

A decrease of 1% was recorded, while 72% of net profit plummeted to $18 million 616 thousand.

In addition, the group's earnings per share fell by 71% to $0.37 during the period.

However, this is

It will be worse.

In addition to the haze that has been investigated by SEC, it has not yet been recede, and at the same time, it has been reluctant to take over the brand because of the hostile takeover of the brand by the private company.

As a result of the weakening of the global retail industry, the group's clothing business has also shrunk.

The impact of business is more obvious.

Group said that the first quarter, the group authorized clothing and home business has declined, resulting in the first quarter net profit slump.

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According to the fourth quarter data, Iconix group, a fashion sports brand retailer, has a net loss of $263 million and a loss of $5.44 per share.

In the same period last year, net profit was $17 million 500 thousand, or about 32 cents per share.

On the basis of the adjustment, diluted earnings per share were 25 cents, compared with 45 cents in the same period last year.

Authorized revenue fell $1.4% to $94 million 600 thousand from $96 million.

Previously, Wall Street expected 27 cents per share, with a total revenue of $93 million 300 thousand.

For the whole year, the group's net loss was $189 million 300 thousand, diluted to $3.92 per share, and its total revenue amounted to $379 million 200 thousand.

Group Chairman and interim CEO Peter Cuneo believes that 2015 is a challenging year, but the Group believes that it can continue to generate significant free cash flow and has an impact on the overall resilience of the group business model and the continued strength of the global brand portfolio.

As of 2015, the group's free cash flow was $189 million.

In addition, the non cash impairment cost of Iconix group is US $438 million, which is mainly related to men's clothing business, including Rocawear, Ecko and Ed Hardy.

At present, the authorization scheme for men's clothing business has been reorganized, and the new authorization plan is about the group's two most challenging brands, Rocawear and Ecko.

The group plans to grow from men's clothing business in 2016.

The Iconix group adjusted its forecast for 2016, expecting its diluted earnings per share to be between 75-90 cents, authorized revenue of 3.7-3.9 billion, and free cash flow of 1.55-1.7 billion.

Previously, the group expected diluted earnings per share of 1.08-1.23 dollars, authorized income of 3.7-3.9 billion.