By  on February 14, 2018

Fossil Group Inc.’s stock shot nearly straight up Wednesday as better sales and some smartwatch traction brought some investors back into the fold (and had others who bet against the firm scrambling to cover their “short” positions).

But chairman and chief executive officer Kosta Kartsotis still has plenty of hearts and minds to win over in the world of wearable tech. In addition, Fossil has giant smartwatch competition from Apple to contend with, as well as all the ills of retailing — the company is closing about 60 stores this year, giving up $60 million in sales, but also offloading roughly $10 million in losses.

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