NEW YORK — Fueled by growth on the international front, Fossil Inc. on Tuesday reported increases in both sales and profits for the first quarter.
The Richardson, Tex.-based watch and accessories firm said for the three months ended April 5, income rose 2.8 percent to $12.1 million, or 25 cents a diluted share, compared with income of $11.8 million, or 25 cents, in the year-ago period. Overall sales for the quarter climbed 18.2 percent to $169.8 million over $143.7 million. Earnings came in a penny ahead of Wall Street’s best guess of 24 cents.
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?"