A $5.2 million impairment charge combined with ICON’s huge interest burden, sending the bottom line $17,435,000 into the red in Q2, against a profit of $1,271,000 last year, as licensing revenues slipped 35% to $22,277,000 from $34,394,000. The charge was attributed to the Covid-19 pandemic and Sears/Kmart store closures, reducing estimated future cash flows for the Joe Boxer and Cannon brands. Lower revenues from Umbro and Buffalo sent Men’s down 55% to $3.0 million, ... Log in to view full article.
