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

Altice makes offer to buy France's Bouygues Telecom

An offer to buy France's Bouygues Telecom through its subsidiary Numericable-SFR has been made by European telecoms group Altice.

On Tuesday, Bouygues said that its board would meet to discuss Altice's 'unsolicited offer'. The company added that negotiations between the two sides were in progress and Altice will update the market sooner...

Most Popular

Wi-Fi might be used to count people, researchers

A team of researchers at the University of California,...

TeliaSonera AB buys 1.4% stake in Spotify

Music-streaming company Spotify Ltd. has raised $526...

Science findsmallest frogs in southern Brazil

A team of scientists have found a new species of frogs...

Google launches new ‘special street view’ for Oceans

Internet giant, Google has launched a set of forty new '...

Poll

Can Greece Come out of Economic Problems: