Iconix Brand Group Reports Preliminary Second Quarter 2017 Financial Results

NEW YORK, Aug. 9, 2017

• 2Q 2017 revenue excluding divested brands down 7%, an improvement from the first quarter
• Managing expenses with SG&A down 9%
• Revising down 2017 guidance
• Balance sheet improvement substantially complete
• Deconsolidating Southeast Asia joint venture

Iconix Brand Group, Inc. (NASDAQ: ICON) ("Iconix" or the "Company") today reported preliminary financial results for its second quarter ended June 30, 2017.

John Haugh, CEO of Iconix commented, "Today we are reporting second quarter revenue results that show an improvement from the first quarter. We entered the year with two primary goals, first to strengthen the balance sheet and enhance financial flexibility, and second to execute on our organic growth strategy. With the refinancing announced last week, we can report that our near-term balance sheet objectives are substantially complete.  We know we need to deliver on both of our objectives. To that end, organic growth is taking longer than originally anticipated, but we are fully focused on our organic growth objectives and will have more to share with you in the coming weeks and months."

In the course of finalizing the results for the second quarter of 2017, the Company determined that its Southeast Asia joint venture should be deconsolidated. This deconsolidation was triggered by its joint venture partner's payment of the final purchase price installment in respect of its interest in the Southeast Asia joint venture, which the Company received in late June. Flowing such deconsolidation through the Company's financial statements is a time intensive process and as a result, the Company is reporting today its preliminary results, excluding the effect of this deconsolidation, which will change as described herein. The Company will file its 10-Q by August 14, 2017.

Preliminary Second Quarter 2017 Financial Results

Preliminary results for the second quarter ended June 30, 2017 do not reflect the non-cash gain that the Company expects to record in the second quarter of 2017 related to the deconsolidation of its Southeast Asia joint venture. As such, among other items footnoted herein, the Company's GAAP operating income, GAAP net income and GAAP earnings per share for the second quarter of 2017 will be adjusted following the date hereof to reflect such gain. Such gain will be excluded from the Company's non-GAAP results.

Results for the second quarter ended June 30, 2017 reflect the entertainment segment as a discontinued operation. Unless otherwise noted, results presented in this press release are based on continuing operations.