US-based watch maker Fossil has posted quarterly results that beat market estimates as its domestic market and direct-to-consumer sales rose, but forecast a second-quarter profit below expectation.

Fossil also sells leathergoods, belts, jewellery, sunglasses and apparel. For the first quarter, the company, which sells private-label products at mass-market stores, earned $55.8 million compared with $35.9 million a year earlier.

The company said revenue rose 37% to $537 million.

Revenues from wholesale in North America rose 34% to $206.8 million and direct-to-consumer sales rose 30% to $114.2 million.

Analysts had expected the company to report a revenue of $512 million.

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