Fossil Inc. Reports Dramatic Increase in Profits for Q4

Fossil Inc. Reports Dramatic Increase in Profits for Q4

As per the revelations of a report, the intensifying range of watches of Fossil Inc. has been successful in luring customers to a high extent. The same has led the company realize a significant rise of 28% in its net profit.

Yes! The company is of the belief that it is the double-digit growth seen in the global watch portfolio that has resulted in increased profits. The Skagen brand was purchased by Fossil the previous year, which has accounted for rise in sales in Europe, North America and Asia pacific.

The higher-than-expected revenue was reported by the accessory maker and retailer on Monday, when its shares closed at $107.46 on the NASDAQ. The company sells accessories in the name of its namesake brand or those of Armani Exchange, Kors and Marc by Marc Jacobs.

The company's shares were high by around 5% before the bell. Fourth-quarter earnings for the firm were noted at $151.1 million ($2.51 per share) on the day, up from $117.9 million ($1.87 per share) realized back a year.

It is being said that the earnings were $2.27 per share on an adjusted basis. However, analysts had estimated earnings of around $2.26 per share with revenue of $930.4 million. But, the company reported revenue of $947.7 million i. e. with an increase of 14%.


FrenchTribune Specials

Amazon launches ‘Echosim.io’ website that puts Alexa inside the browser

Online retail giant Amazon has launched a website called ‘Echosim.io,’ which essentially puts the Amazon Echo smart speaker’s Alexa voice-powered artificial intelligence (AI) software right inside the browser.

The new Echosim.io website launch by Amazon basically underscores a browser-based tool to enable the community to use as well as...

Most Popular

Google announces ‘Daydream’ platform for mobile VR

At its 2016 I/O developer conference on Thursday, tech...

‘Google Home’ marks Google’s foray into voice-activated home device market

At its ongoing 2016 I/O developer conference in Silicon...

Poll

Can Greece Come out of Economic Problems: