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Iconix Brand Group Inc Acquires 51% Stake In Buffalo David Bitton Brand; Raises FY 2013 Guidance-DJ

Monday, 4 Feb 2013 09:07am EST 

Dow Jones reported that Iconix Brand Group Inc acquired a 51% stake in the Buffalo David Bitton brand for $76.5 million, contributing to the brand manager's raising fiscal 2013 guidance as the Company adds a joint venture (JV) to its portfolio of brands. The Buffalo brand, which, includes jeans and other apparel and accessories, will be the core licensee for the new venture. For fiscal 2013, Iconix now expects per-share earnings of $2 to $2.10 on revenue of $415 million to $425 million, compared with its prior estimate for $1.85 to $1.95 and $395 million to $405 million, respectively. Iconix said the raised per-share profit view also reflects increased share buyback activity. 

Company Quote

-0.36 -0.88%
12 Sep 2014