NEW YORK, Dec. 12, 2011 /PRNewswire/ -- Iconix Brand Group,
Inc. (Nasdaq: ICON) ("Iconix" or the "Company"), today announced
that the Company has entered into a trading plan in accordance with
Rule 10b5-1 under the Securities Exchange Act of 1934 to facilitate
repurchase of its common stock (the "Plan") during its blackout
period. The Plan does not preclude the Company from repurchasing
shares outside of its blackout period. The execution period will
begin on January 4, 2012 and the Plan
will expire on March 2, 2012, unless
terminated earlier in accordance with its terms.
The Company does not retain or exercise any discretion over the
purchases of common stock under the Plan. Because the repurchases
under the Plan, if any, are subject to certain pricing parameters,
there is no guarantee as to the exact number of shares that will be
repurchased under the Plan, or that there will be any repurchases
at all pursuant to the Plan.
The Plan was adopted pursuant to the $200
million share repurchase program announced by the Company on
October 27, 2011.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. owns, licenses and markets a growing
portfolio of consumer brands including CANDIE'S (R), BONGO (R),
BADGLEY MISCHKA (R), JOE BOXER (R), RAMPAGE (R), MUDD (R),
LONDON FOG (R), MOSSIMO (R), OCEAN
PACIFIC (R), DANSKIN (R) ROCA WEAR
(R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R),
STARTER (R), ZOO YORK (R),
WAVERLY (R) and SHARPER IMAGE (R).
In addition, Iconix owns an interest in the ARTFUL DODGER (R),
ED HARDY (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL (TM), TRUTH OR DARE
(TM) and PEANUTS (R) brands. The Company licenses its brands to a
network of leading retailers and manufacturers that touch every
major segment of retail distribution from the luxury market to the
mass market in both the U.S. and worldwide. Through its in-house
business development, merchandising, advertising and public
relations departments Iconix manages its brands to drive greater
consumer awareness and equity.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995. The statements that are not historical facts
contained in this press release are forward looking statements that
involve a number of known and unknown risks, uncertainties and
other factors, all of which are difficult or impossible to predict
and many of which are beyond the control of the Company, which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Such factors include, but are not limited to,
uncertainty regarding the results of the Company's acquisition of
additional licenses, continued market acceptance of current
products and the ability to successfully develop and market new
products particularly in light of rapidly changing fashion trends,
the impact of supply and manufacturing constraints or difficulties
relating to the Company's licensees' dependence on foreign
manufacturers and suppliers, uncertainties relating to customer
plans and commitments, the ability of licensees to successfully
market and sell branded products, competition, uncertainties
relating to economic conditions in the markets in which the Company
operates, the ability to hire and retain key personnel, the ability
to obtain capital if required, the risks of litigation and
regulatory proceedings, the risks of uncertainty of trademark
protection, the uncertainty of marketing and licensing acquired
trademarks and other risks detailed in the Company's SEC filings.
The words "believe", "anticipate," "expect", "confident", "will",
"project", "provide" "guidance" and similar expressions identify
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward looking statements, which speak
only as of the date the statement was made.
Contact Information:
Jaime Sheinheit
Investor Relations
Iconix Brand Group
212.730.0030
SOURCE Iconix Brand Group, Inc.