Shares of Fossil Inc. rose 9 percent Tuesday after the firm’s lower third-quarter profits beat analysts’ expectations and the company increased its fourth-quarter guidance.
In the three months ended Oct. 3, the Richardson, Tex.-based accessories maker posted net income of $35.3 million, or 52 cents a diluted share, 3.3 percent less than the $36.5 million, or 54 cents a share, reported in the year-ago quarter. Sales dropped 6.9 percent to $381.4 million from $409.8 million in 2008, with about $7 million of the decline attributable to unfavorable currency translation. But gross margin increased to 55.3 percent of sales from 54.7 percent.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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