Iconix Brand Group Inc. ICON, -1.67% shares slipped 3.2% in Friday premarket trading after the consumer brands company reported third-quarter results that were hurt by the Sears Holdings Corp. SHLDQ, +22.30% bankruptcy. Iconix’s portfolio includes brands like Rampage, London Fog, Mossimo and Ed Hardy. Iconix’s net income totaled $20.2 million, or 1-cent loss per share, after a loss of $552.7 million, or $9.67 per share loss, last year. Adjusted EPS was 2 cents, below the 6-cents FactSet consensus. Revenue was $46.2 million, lower than $53.2 million last year but ahead of the $42.6 million FactSet consensus. “Our results for the quarter were negatively impacted by the Sears bankruptcy filing which resulted in P&L charges, however, we continue to forecast debt covenant compliance,” Iconix Chief Executive Bob Galvin said in a statement. Iconix lowered its full-year guidance. It now expects revenue of $185 million to $195 million, compared with previous revenue guidance of $190 million to $220 million. The company expects a loss of $105 million to $115 million, versus a loss of $94.4 million to $104.4 million previously. And adjusted net income is forecast to be $5 million to $15 million, down from $20 million to $30 million previously. Iconix stock has plunged 84% in 2018 while the S&P 500 index SPX, -0.25% has gained 5%.
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