NEW YORK, MAY 7, 2012 /PRNewswire/ -- Iconix Brand Group, Inc. (NASDAQ: ICON) and Reliance Brands Limited, a part of the Reliance Industries Group, the largest private sector company in India, announced today the completion of the formation of their joint venture company in India, Iconix India. The partnership marks the next step in a global expansion strategy for Iconix, which currently has other similar partnerships in Greater China, Europe and Latin America. Iconix India will be based in Mumbai and will follow a similar business model to that of Iconix in North America, which focuses on growing royalty
WAYNE, N.J. — The decision to open fewer Express stores during the 2011 holiday selling season, along with a decline in comparable-store sales both in the United States and internationally, contributed to Toys“R”Us's fourth-quarter net sales decline of $47 million to $5.9 billion. On a positive note, the company's new ventures in Greater China and Southeast Asia have offset the sales decline. Toys"R"Us said its strongest performing categories continue to be learning and core toys, while the entertainment category (which includes electronics, video game hardware and software) was the weakest, declining 7.3%. Net earnings were $343 million, an increase
Iconix Brand Group reported that its fourth quarter net income rose 23 percent on increased sales. The company also announced it was forming a joint venture with Reliance Brands Limited, a part of the Reliance Industries Group, to expand in India.
Toys"R"Us and Li & Fung Retailing have established a joint venture for the Toys"R"Us business in Southeast Asia and greater China. Existing Toys"R"Us licensed operations throughout Asia, which includes more than 100 stores and offices across nine markets, will become 70 percent owned by Toys"R"Us and 30 percent owned by Li & Fung Retailing.
HONG KONG -- Adidas Thursday reported a 25% jump in third quarter net income, driven by strong sales for its adidas and Reebok branded products and accelerated growth in emerging markets, including in Greater China. Net income rose to 266 million euros ($376 million), or 1.27 euros per share, from 213 million euros, or 1.03 euro per share. Group revenues increased 10% on a currency-neutral basis. The company said it expects to earn between 2.68 to 2.70 euros per share in 2010 on a sales expansion of 8%. The company said it expects further gradual improvements in 2011 as