UPDATE 2-Iconix Brand Q3 profit tops Street; shares jump

lunes 3 de noviembre de 2008 20:07 CET
 

* Q3 EPS 30 cents beats Street by 2 cents

* Licensing and other revenue up 29 pct

* Sees 2008 results at low end of prior outlook range

* Sees 2 equity deals in China by year-end

* Shares jump as much as 10 pct (Recasts; adds details from conference call, CEO comments, background, share movement)

Nov 3 (Reuters) - Iconix Brand Group Inc's (ICON.O: Cotización) apparel brand Rocawear and rainwear brand London Fog helped it post a better-than-expected quarterly profit, but the company expects tough U.S. retail trends to continue next year.

The company, which owns and licenses a popular collection of brands such as Candie's, Joe Boxer and Rocawear, earned $18.3 million for the third quarter, compared with $17.0 million a year earlier. Licensing and other revenue rose 29 percent.

Rocawear, an urban apparel brand co-founded by hip-hop mogul Jay-Z, and London Fog, created in 1927, were the "two biggest standouts in the quarter," Chief Executive Neil Cole said on a conference call with analysts.

Jay-Z's involvement in the Rocawear brand, and the launch of new categories such as footwear in the London Fog brand contributed to their success, Cole said.   Continuación...