Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Fossil Rises After Fourth-Quarter Sales Beat Analyst Estimates

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.
By
  • Bloomberg

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.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

The Best of BoF 2023: Diversity’s Litmus Test

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.


The Year Ahead: The Future of Fashion Deal-Making

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.


The Investment Giant Behind Some of Fashion’s Biggest Deals

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.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections