Iconix Brand Group Q3 revenues decline, swings to loss

Iconix Brand Group for the third quarter ended September 30, 2019 reported revenue of 35.5 million dollars, a 23 percent, as a result of the transition of its Danskin and Mossimo direct to retail licenses in the women’s segment and the effect of the Sears bankruptcy on Joe Boxer and Bongo brands in women’s and the Cannon brand in home. The company’s men’s segment revenue increased 9 percent driven by the Buffalo and Starter brands. International segment declined 17 percent due to poor performance of Umbro in China and Umbro and Lee Cooper in Europe. For the nine months, total revenue was 105.8 million dollars, a 27 percent decline compared to the nine months in the previous year.