Iconix Ups 2013 Guidance
Larry Thomas -- Furniture Today, February 26, 2013
NEW YORK - To reflect the company's acquisition of British denim brand Lee Cooper, Iconix Brand Group has raised its 2013 guidance.
It calls for the following:
• Revenue of $425 million to $435 million, compared to the prior guidance of $415 million to $425 million;
• Earnings per share of $2.05 to $2.15, from $2.00 to $2.10;
• Free cash flow to $203 million to $210 million, from $196 million to $203 million.
"Over the past year we have executed on several exciting initiatives that position our company for significant growth," said Neil Cole, chairman and ceo. "We acquired three iconic brands, continued to expand our global footprint, signed a Peanuts movie deal and launched a new $1.1 billion securitization facility."
Iconix now owns more than 30 brands.
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