NEW YORK — Fossil Inc. posted a nearly 20 percent jump in third-quarter profits Tuesday, beating analysts’ expectations, but the watchmaker reduced its fourth-quarter earnings guidance to reflect a weaker economy and pressure from the strengthening U.S. dollar.
For the quarter ended Oct. 4, net income for the Richardson, Texas-based company increased 19.8 percent to $36.5 million, or 54 cents a diluted share, from $30.5 million, or 43 cents a share, in the year-ago period. Net sales grew 14.3 percent to $409.8 million from $358.6 million. Analysts estimated EPS of 49 cents on sales of $402 million, according to Yahoo Finance.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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