Iconix Announces Fiscal 2014 Results, Raises ’15 Guidance
Iconix Brand Group reported that net income for the quarter ending Dec. 31, 2014 was $23.8, or 44 cents per diluted share, a decline compared with the $26.1 million, or 44 cents per share, that the company made in the year-ago period. Analysts polled by Yahoo Finance expected the company to report a profit of 55 cents a share.
Revenue the quarter totaled $112.4 million, a 6.7 percent increase compared with 2013, when revenue was $105.3 million.
During fiscal year 2014, Iconix reported net income of $152.7 million, or $2.66 earnings per share. Total revenue were $461.2 million, a 7 percent rise over 2013, when sales reached $432.6 million. The company beat Wall Street expectation on revenue for the year but missed profit expectations, which were forecast to be $2.76 per share for the year.
For 2015, Iconix raised revenue guidance to $490 million to 510 million, compared with $485 million to 500 million that had been previously announced. The company also raised EPS guidance to range from $3.06 to $3.20 per share, up from the $2.82-to-$3 range.
Earlier this year, Iconix agreed to purchase North American rights to PONY and also acquired the license to the Strawberry Shortcake brand.
Sears Reports Earnings: Loss Less Than Half of Last Year’s
Sears Holding Co. reported a net loss in the quarter of $159 million, or $1.50 loss per diluted share, compared with a loss of $358 million, or a $3.37 loss per share, in the year-ago period. The loss was less than the $1.89 per share predicted by analysts.
For the quarter ending Jan. 31, 2015, revenues fell to $8.1 billion, compared with the year-ago period, when revenue was $10.6 billion. The company said the bulk of the decline was related to the shuttering of Sears Canada and the separation of the Lands’ End business. For the quarter, domestic comparable-store sales declined 4.4 percent.
For the year, the retailer reported a net loss of $1.7 billion, or a $15.82 loss per diluted share, more than the $10.07 loss per share that analysts had predicted for the year. In the previous year, the company had reported a loss of $1.4 billion, or $12.87 loss per diluted share.