Exhibit 99.1

Iconix Brand Group Reports Financial Results For The First Quarter 2016

NEW YORK, May 5, 2016 /PRNewswire/ —

Iconix Brand Group, Inc. (NASDAQ: ICON) (“Iconix” or the “Company”) today reported its financial results for the first quarter ended March 31, 2016.

John Haugh, CEO of Iconix Brand Group commented, “I am pleased with our results today and that we remain on track to achieve the guidance that the Company provided last quarter. Overall, our portfolio of brands remains healthy with solid businesses across the women’s and home segments, a growing entertainment platform and a stabilizing men’s business.”

John continued, “In the almost two months I have been at Iconix, I have spent my time understanding our business and each brand in our portfolio, assessing our marketing capabilities and strategy, meeting with many of our customers and our licensees and working toward crafting our go forward strategy. It is clear to me that with a diversified portfolio of over 30 brands, and over 1,700 licenses worldwide, Iconix is well positioned as the industry leader to further leverage and monetize our brands and our global licensing platform.”

First Quarter 2016 Financial Results

Licensing Revenue: For the first quarter of 2016, licensing revenue was approximately $94.6 million, a 1% decline as compared to approximately $95.8 million in the first quarter of 2015. Licensing revenue included approximately $1.3 million of revenue related to acquisitions for which there was no comparable revenue in the first quarter of 2015, and was negatively impacted by approximately $1.0 million due to the sale of the Badgley Mischka brand in the first quarter of 2016.

Segment Data:

SG&A Expenses: Total SG&A expenses were $51.5 million in the first quarter of 2016, a 30% increase as compared to $39.7 million in the first quarter of 2015. In 2016, SG&A included $5.5 million of special charges related to professional fees associated with the continuing correspondence with the Staff of the SEC, the SEC investigation, the previously disclosed class action and derivative litigations, and costs related to the transition of Iconix management, as compared to $0.4 million in the first quarter of 2015. SG&A in the first quarter of 2016 also included an incremental $2.3 million of agent and talent fees associated with increased revenues in the Peanuts brand, $4.0 million related to reserves for doubtful accounts, and $1.8 million related to compensation expense. Stock-based compensation was approximately $2.0 million in the first quarter of 2016 as compared to $2.6 million in the first quarter of 2015.

Gain on Sales of Trademarks: In the first quarter of 2016, the Company recognized a net pre-tax gain of approximately $11.0 million, related to the sales of the Badgley Mischka brand and the Company’s interest in BBC and IceCream.

Operating Income: Operating Income in the first quarter of 2016 was approximately $54.2 million including the $11.0 million gain on sales of trademarks, a 3% decline as compared to approximately $56.0 million in the first quarter of 2015. Excluding special charges, operating income grew 6% to approximately $59.7 million in the first quarter of 2016 as compared to approximately $56.3 million in the first quarter of 2015.

Interest Expense: Interest expense in the first quarter of 2016 was approximately $21.2 million, as compared to interest expense of approximately $21.3 million in the first quarter of 2015. Our reported interest expense includes non-cash interest related to our outstanding convertible notes, and amortization of deferred financing costs. Excluding the non-cash interest and amortization of deferred financing costs, cash interest paid during the first quarter of 2016 was approximately $11.5 million as compared to approximately $11.3 million in the prior year quarter.

GAAP Net Income and GAAP Diluted EPS: GAAP net income was approximately $18.6 million in the first quarter of 2016, as compared to approximately $65.4 million in the first quarter of 2015. In the first quarter of 2015, the Company’s GAAP net income and EPS include a non-cash gain of approximately $50.0 million in Other Income related to the buyout and re-measurement of the Company’s investment in Iconix China and an approximate $10.7 million foreign currency translation gain. GAAP diluted EPS in the first quarter of 2016 was approximately $0.37 as compared to $1.26 in the first quarter of 2015.

Non-GAAP Net Income and Non-GAAP Diluted EPS: Non-GAAP net income was approximately $26.9 million in the first quarter of 2016, flat as compared to $26.9 million in the first quarter of 2015. Non-GAAP diluted EPS was approximately $0.53 as compared to $0.54 in the first quarter of 2015.

Balance Sheet and Liquidity

The Company ended the quarter with $247.4 million of cash and $1.44 billion of debt on its balance sheet. On April 4, 2016, the net proceeds from the Company’s new $300 million term loan were placed into escrow by the lenders. The funds are to be used to repay the Company’s convertible notes due in June 2016.

Free Cash Flow: The Company generated approximately $51.6 million of free cash flow in the first quarter of 2016, a 63% increase as compared to approximately $31.7 million in the first quarter of 2015.

Free Cash Flow Reconciliation: (2)

2016 Guidance

The Company is maintaining its guidance for the full year 2016.

Non-GAAP net income, non-GAAP diluted EPS and Free Cash Flow are non-GAAP metrics, and reconciliation tables for each are included in this press release.

Conference Call

The Company will host a conference call today at 10:00 AM ET. The call can be accessed on the Company’s website at www.iconixbrand.com.

About Iconix Brand Group, Inc.

Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including: CANDIE’S (R), BONGO (R), JOE BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC (R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), SHARPER IMAGE (R), UMBRO (R),LEE COOPER (R), ECKO UNLTD. (R), MARC ECKO (R) ARTFUL DODGER (R) and STRAWBERRY SHORTCAKE (R). In addition, Iconix owns interests in the MATERIAL GIRL (R), PEANUTS (R), ED HARDY (R), TRUTH OR DARE (R), MODERN AMUSEMENT (R), BUFFALO (R), NICK GRAHAM (R) and PONY (R) 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 worldwide. Through its in-house business development, merchandising, advertising and public relations departments, Iconix manages its brands to drive greater consumer awareness and equity.

Forward Looking Statements

In addition to historical information, this press release contains forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include projections regarding the Company’s beliefs and expectations about future performance and, in some cases, may be identified by words like “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek” and similar terms or phrases. These statements include, among others, statements relating to additional information that may require the Company to restate further the financial statements and other financial data in the periods impacted by the restatement and/or additional historical periods. These statements are based on the Company’s beliefs and assumptions, which in turn are based on currently available information. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement and could harm the Company’s business, prospects, results of operations, liquidity and financial condition and cause its stock price to decline significantly. Many of these factors are beyond the Company’s ability to control or predict. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements include, among others: the ability of the Company’s licensees to maintain their license agreements or to produce and market products bearing the Company’s brand names, the Company’s ability to retain and negotiate favorable licenses, the Company’s ability to meet its outstanding debt obligations and the events and risks referenced in the sections titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and subsequent Quarterly Reports on Form 10-Q and in other documents filed or furnished with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements.

Contact Information:

Jaime Sheinheit

Iconix Brand Group

VP, Investor Relations

jsheinheit@iconixbrand.com

212.730.0030

Unaudited Condensed Consolidated Income Statements

(in thousands, except earnings per share data)

The following tables detail unaudited reconciliations from non-GAAP amounts to U.S. GAAP and include reconciliations related to ASC Topic 470 as it relates to accounting for convertible debt, incremental dilutive shares related to our convertible debt that are covered by our existing convertible note hedges, non-cash gains related to the re-measurement of investments, foreign currency translation and special charges related to professional fees associated with the continuing correspondence with the Staff of the SEC, the SEC investigation, the previously disclosed class action and derivative litigations, and costs related to the transition of Iconix management.

Note: All items in the following reconciliation tables are attributable to Iconix Brand Group, Inc. and exclude results related to non-controlling interests.

Non-GAAP Net Income & Diluted EPS Reconciliation: (1)

Non-GAAP Weighted Average Diluted Shares Reconciliation: (1)

Forecasted Non-GAAP Diluted EPS Reconciliation: (1)

Forecasted Free Cash Flow Reconciliation: (2)

Footnotes