The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
RICHARDSON, United States — Fossil Group Inc. rose as much as 18 percent in late trading after the watchmaker's fourth-quarter sales topped analysts' estimates, helped by new brands and investments in its digital operations.
While revenue in the quarter through Jan. 2 fell 6.8 percent to $992.5 million, that handily beat analysts’ $928.2 million average projection. Profit was $1.46 a share, the Richardson, Texas-based company said Tuesday in a statement. Analysts estimated $1.30, on average.
Chief Executive Officer Kosta Kartsotis said the addition of the Kate Spade New York and Chaps brands have helped Fossil’s licensed business, while investments in its namesake and Skagen lines also boosted results. The company has introduced a new website, as well, helping drive double-digit growth in its e- commerce channel.
The shares climbed as high as $40.70 in late trading in New York. Fossil had slid 5.7 percent this year through the close of regular trading Tuesday.
By Kevin Orland; editors: Nick Turner.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.