Better watch sales propelled Fossil Inc. to stronger-than-expected second-quarter gains — and the company sees an opening in the Asian market, where luxe brands are boosting their prices.
Net income attributable to Fossil rose 11.5 percent to $57.3 million, or 92 cents a diluted share, from $51.4 million, or 80 cents, a year earlier. Earnings per share came in 14 cents better than the 78 cents analysts projected, pushing the stock up 31.5 percent to $91.77, its biggest jump in more than 19 years as a public company.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"