Fossil Inc. matched analysts’ estimates with lower fourth-quarter earnings last week but forecast a slow beginning to 2009 and said it was instituting selective layoffs and other cost-cutting initiatives.
A stronger dollar weakened the company’s overseas revenue. Net income for the three months ended Jan. 3 fell 12.9 percent to $46.3 million, or 69 cents a diluted share, from $53.1 million, or 75 cents, in last year’s quarter. Excluding charges related to write-downs and other items, profit was 84 cents a share. Revenue rose 0.2 percent to $464.1 million from $463.1 million. Gross margins dropped 140 basis points to 52.2 percent of sales.
"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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