Iconix Brand Group Inc., an American brand management company, has announced its fourth quarter and full year 2016 financial results.
The company noted an 8 per cent plunge in the fourth quarter’s licensing revenue in comparison to US $ 94.7 million in the same period of 2015. Operating income stood at US $ 385.8 million. Men and women’s licensing revenue too decreased by 10 per cent to US $ 11.8 million and 17 per cent to US $ 18.8 million, respectively.
The brand also released its full year financial report, which depicts decline of 3 per cent in annual licensing revenue as compared to US $ 379.2 million in 2015. For the full year, women’s and men’s licensing revenue was also down 10 per cent and 12 per cent to US $ 106.5 million and US $ 48.6 million, respectively.
Also Read – Iconix Brand notes 3% dip in revenue in full-year 2015
John Haugh, CEO, Iconix Brand Group, “Our operating performance was in-line with our guidance. I believe the changes we have made over the past year provide a strong foundation to drive long-term growth and shareholder value.” He called it a year of transition for Iconix.
