×
71 078
Fashion Jobs
ROSS STORES
Store Protection Specialist
Permanent · Puyallup
ROSS STORES
Store Protection Specialist
Permanent · Garland
ROSS STORES
Store Protection Specialist
Permanent · Indianapolis
ROSS STORES
Store Protection Specialist
Permanent · Houston
ROSS STORES
Store Protection Specialist
Permanent · Columbia
MACY'S
Asset Protection Detective, Victoria Gardens - Part Time
Permanent · Rancho Cucamonga
CASERO IMPORTS / LULI & ME - SOPHIE & LUCAS - GABBY GIRLS
Production Manager
Permanent · DALLAS
NORDSTROM
Asset Protection - Agent - Los Cerritos Center
Permanent · Cerritos
NORDSTROM
Asset Protection - Security Ambassador - Promenade Shops Rack
Permanent · Miami
NORDSTROM
Asset Protection - Security Ambassador - Last Chance Phoenix
Permanent · Phoenix
NORDSTROM
Asset Protection - Agent - Tampa Rack
Permanent · Tampa
ROSS STORES
Store Protection Specialist
Permanent · Hodgkins
ROSS STORES
District Manager
Permanent · McDonough
ROSS STORES
Inventory Control/Quality Assurance Supervisor
Permanent · Perris
NORDSTROM
Asset Protection - Agent - Santa Monica Place
Permanent · Santa Monica
TJ MAXX
Loss Prevention Detective
Permanent · Plymouth
TJX COMPANIES
30046-D/C Loss Prevention Specialist
Permanent · La Vergne
TJ MAXX
Loss Prevention Detective
Permanent · Coon Rapids
HOMEGOODS
Loss Prevention-Customer Service Associate
Permanent · Silverdale
HOMEGOODS
Loss Prevention-Customer Service Associate
Permanent · Federal Way
HOMEGOODS
Loss Prevention-Customer Service Associate
Permanent · Seattle
TJ MAXX
Lead lp Detective
Permanent · Pittsburgh
Published
Jul 14, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Iconix considers possible sale

Published
Jul 14, 2020

As Iconix Brand Group, Inc. continues its search for a financial lifeline, the New York-based brand management company has announced that it is examining a range of strategic alternatives, including a potential sale or merger.


Iconix's business has been deeply negatively impacted by the coronavirus crisis - Facebook: Umbro USA

 
In a release published on Monday, the company, whose owned brand portfolio includes Umbro, Lee Cooper and Ecko Unltd, announced that its management has received authorization from the board to explore options ranging from a possible sale or merger to debt and equity financings.
 
As it expands its strategic review process, the company will continue to work with financial adviser Ducera Partners, as well as its legal counsel, Dechert.

The news comes after Iconix’s announcements that it is selling its Umbro and Starter businesses in China for $62.5 million and $16.0 million, respectively. According to the company, it intends to use the funds raised by these transactions for debt repayment and covering general corporate expenses. Both sales are expected to close by September 15.
 
As explained by Iconix CEO Bob Galvin when the company reported its first-quarter financial results in May, “the Covid-19 pandemic has had a meaningful near-term impact on [Iconix’s] business and that of [its] licensees.”
 
In the first quarter ended March 31, the company’s total quarterly revenue decreased 22% to $28.0 million, while its net loss totaled $21.5 million, or $1.86 per diluted share.
 
As part of its strategic response to the negative impact of the coronavirus pandemic, Iconix has already reduced its headcount and eliminated non-essential operating expenses, measures which the company says will lead to more than $10.0 million in annualized cost savings.
 
The Covid-19 pandemic has had a devastating impact on the fashion sector thus far, with Monday also seeing New York & Co parent company RTW Retailwinds join a growing list of retailers filing for bankruptcy since the start of the crisis, a list that already includes J.C. Penney, Brooks Brothers, J.Crew and Neiman Marcus.

Copyright © 2022 FashionNetwork.com All rights reserved.