Iconix prices common stock offering
Iconix Brand Group (Nasdaq: ICON), parent of Danskin Fitness, has priced its upcoming common stock offering at $15 per share. With the company offering 9.2 million shares and select stockholders selling 800,000 shares, it expects to generate $131.4 million in net proceeds.
The company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its common stock. The offering will close on June 9.
Iconix said it will use the net proceeds for general corporate purposes, which may include funding acquisitions.
Barclays Capital and Lazard Capital Markets are acting as joint book-running managers for the offering, with Credit Suisse Securities (USA) acting as the co-manager for the offering.
Costco's May same-store sales dip
Costco (Nasdaq: COST) said its same-store sales slipped 7 percent in May, hurt by the stronger dollar and declining gas prices. U.S. same-store sales were down 6 percent and international dropped 7 percent.
Total sales for the period ended May 31 dropped 5 percent to $5.47 billion.
Wal-Mart announces share repurchase plan
At its annual shareholders meeting, Wal-Mart Stores (NYSE: WMT) said it is launching a new $15 billion share repurchase program.
It said it would end its current $15 billion share repurchase program and replace it with a new one. The prior program was begun in 2007 and had $3.4 billion of remaining authorization.
Over the past five years, Wal-Mart has bought back $21 billion worth of its shares.
--Compiled by Wendy Geister
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