Press Release:

NEW YORK, July 27 /PRNewswire-FirstCall/ — Iconix Brand Group, Inc. (Nasdaq:ICON – News) (“Iconix” or the “Company”), today announced financial results for the second quarter ended June 30, 2010.

Q2 total revenue of $76.0 million, a 35% increase over the prior year quarter

– Q2 non-GAAP Iconix net income of $26.7 million, a 25% increase over the prior year

– Q2 diluted non-GAAP Iconix EPS of $0.36 compared to $0.33 in the prior year quarter

– Q2 free cash flow of $44.3 million, a 26% increase over the prior year quarter

Q2 2010 results for Iconix Brand Group, Inc:

Total revenue for the second quarter of 2010 was approximately $76.0 million, a 35% increase as compared to approximately $56.4 million in the second quarter of 2009.

EBITDA attributable to Iconix for the second quarter was approximately $49.4 million, an 18% increase as compared to approximately $41.8 million in the prior year quarter.

Free cash flow for the quarter was $44.3 million, a 26% increase as compared to approximately $35.1 million in the prior year quarter.

On a non-GAAP basis, which excludes non-cash interest related to the Company’s convertible debt, net income attributable to Iconix increased 25% to approximately $26.7 million, as compared to $21.3 million in the prior year quarter and diluted earnings per share, or EPS, for the second quarter of 2010 was $0.36 versus $0.33 in the prior year quarter.

On a GAAP basis, net income attributable to Iconix increased 27% to approximately $24.5 million, as compared to approximately $19.3 million in the prior year quarter and GAAP diluted earnings per share for the second quarter of 2010 was $0.33 versus $0.30 in the prior year quarter.

Six months ended June 30, 2010

Total revenue for the six months ended June 30, 2010 was approximately $147.7 million, a 38% increase as compared to approximately $106.9 million in the prior year period.

EBITDA attributable to Iconix for the six month period was approximately $98.9 million, a 26% increase as compared to approximately $78.2 million in the prior year period, and free cash flow was approximately $84.4 million, a 30% increase as compared to approximately $64.9 million in the prior year period.

On a non-GAAP basis, as defined above, net income attributable to Iconix for the six month period increased 38% to approximately $53.7 million, as compared to $38.9 million in the prior year and non-GAAP diluted earnings per share increased to $0.72 versus $0.62 in the prior year.

On a GAAP basis, net income attributable to Iconix increased 41% to approximately $49.3 million, as compared to approximately $34.9 million in the prior year period and GAAP diluted earnings per share was $0.66 versus $0.56 in the prior year period.

EBITDA, free cash flow, non-GAAP net income and non-GAAP EPS are all non-GAAP metrics and reconciliation tables for each are attached to this press release.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, “As we deliver a record second quarter for our Company, we believe the advantages of our business model and strength of our brands are evident. Our direct-to-retail model has proven to be very powerful and was a key driver of our organic growth this quarter with the majority of DTR brands posting double digit retail sales gains. We are excited about our new Peanuts platform and the worldwide access it gives us in over 40 countries. As we leverage our global platform, expand into new categories, launch new programs with major retailers, and continue to add iconic global lifestyle brands to our portfolio we believe our Company is well positioned to continue to deliver strong profitable growth.”

2010 Guidance for Iconix Brand Group, Inc:

The Company is reiterating its full year 2010 revenue guidance of $305-$315 million, its 2010 non-GAAP diluted EPS guidance of $1.35-$1.40, and its GAAP diluted EPS guidance of $1.23-$1.28. The Company expects to continue to generate strong free cash flow for 2010 of approximately $150- $155 million. This guidance relates to the existing portfolio of brands only and does not include any additional acquisitions.

About Iconix Brand Group, Inc: Iconix Brand Group, Inc. (Nasdaq:ICON – News) owns, licenses and markets a growing portfolio of consumer brands including CANDIE’S®, BONGO®, BADGLEY MISCHKA®, JOE BOXER®, RAMPAGE®, MUDD®, LONDON FOG®, MOSSIMO®, OCEAN PACIFIC®, DANSKIN®, ROCAWEAR®, CANNON®, ROYAL VELVET®, FIELDCREST®, CHARISMA®, STARTER® and WAVERLY®. In addition, Iconix owns an interest in the ARTFUL DODGER®, ED HARDY®, ECKO®, MARC ECKO®, ZOO YORK®, MATERIAL GIRL™, and PEANUTS® 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 around the world. Iconix, through its in-house advertising, promotion and public relations agency, markets its brands to continually drive greater consumer awareness and equity.