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Iconix home brands continue to grow
Two of its major retail licensees for home may be struggling, but Iconix Brand Group said sales of Royal Velvet and Canon brand merchandise continue to grow.
During this morning's fourth quarter conference call, Iconix chairman and ceo Neil Cole said JCPenney is positioning Royal Velvet as its largest home brand as part of its 2014 home floor overhaul. At Sears, the ongoing de-emphasis of rival brands in the home department has bolstered sales of Canon, he said.
Charisma continues to show growth at Costco, he added. Cole did not discuss the performance of Fieldcrest, a Target exclusive. Nor did he mention Waverly, whose home licensees include PK Lifestyles, York Wallcoverings, Ellery Homestyles, Nourison and Hollander.
Iconix turned in a record performance for the fourth quarter and fiscal year, driven primarily by apparel brand acquisitions and international growth. For the fiscal year ended Dec. 31, 2013, net income jumped 17% to $128.0 million. Revenue climbed 22% to $432.6 million.
From: Home & Textiles Today