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By
Reuters
Published
Feb 12, 2013
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Fossil reports higher profit as sales rise 14 percent in fourth quarter

By
Reuters
Published
Feb 12, 2013

Fashion accessory maker and retailer Fossil Inc reported a 28 percent rise in quarterly profit on improved sales across categories, especially in its direct-to-consumer business.

Fourth-quarter earnings rose to $151.1 million, or $2.51 per share, from $117.9 million, or $1.87 per share, a year earlier.

On an adjusted basis, Fossil earned $2.27 per share.

The company, which sells its namesake brand as well as Michael Kors, Armani Exchange and Marc by Marc Jacobs, said revenue rose 14 percent in the fourth quarter to $947.7 million.

Richardson, Texas-based Fossil's shares closed at $107.46 on Monday on the Nasdaq.

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