Iconix Group Adjusts Expectations For 2016

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Rocawear was founded in 1999 by Jay-z, the US Heavenly King singer. It has 2500 retail outlets, covering 25 countries in North America, Europe, Asia and the Middle East, with annual sales of up to seven hundred million dollars.

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Iconix group, the sports brand retailer, released its latest earnings report on Monday. Its net loss was $263 million in the three months ending December 31st, less than Wall Street's expected total revenue of $93 million 300 thousand.

According to the fourth quarter data, the group's net loss was $263 million, and the loss per share was $5.44.

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 was expected to be 27 cents a share, with a total income 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 $438 million, mainly

Business related, including Rocawear, Ecko and Ed Hardy brands.

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.

As of Monday, Iconix shares rose 2.4% to 8.14 dollars, and after hours trading fell 4% to 7.82 dollars.

In February of this year, John N. Haugh was officially appointed as the chief executive of the group. The appointment will take effect in April 1st.

In addition to serving as Group CEO, John N. Haugh will also act as president and become a member of the board.

After John N. Haugh took over the post of chief executive in April 1st, interim CEO Peter Cuneo will take over as CEO of Iconix group.

Iconix group was founded in 2005 by former chairman and chief executive officer Neil Cole.

As a brand management company, Iconix acquired brand intellectual property rights, and then collaborate with authorized manufacturers to produce products.

Iconix group has been responsible for maintaining the positioning of every brand and ensuring its brand cohesion.

The Iconix group has more than 35 consumer brands, including Candie 's, Joe Boxer, Badgley Mischka, London Fog, Danskin, Ed, Boxer, and so on.