Fossil Inc. on Tuesday posted fourth quarter double-digit percent gains in both profits and sales from a year ago.
For the three months ended Jan. 1, income rose 38.1 percent to $96.7 million, or $1.46 a diluted share, from $70 million, or $1.03, last year. Sales rose 32.8 percent to $701.1 million from $527.8 million.
By category, wholesale sales rose 34.9 percent to $526.7 million while direct to consumer sales gained 27 percent to $174.4 million.
Mike Kovar, executive vice president and chief financial officer, said, “Record sales and earnings and broad-based growth across all geographies underscores the significant strength of our business model and our ongoing ability to lead the market with innovative materials and designs.”
For complete coverage, see Wednesday’s WWD.