Fossil, Inc. reports second quarter results

16/08/2006

US-based watchmaker and leather goods company Fossil, Inc. has reported second quarter net sales and earnings for the thirteen-week second quarter and twenty-seven week six-month periods ended July 8.

In the second quarter, net sales increased 14.6% to $259.2 million compared with $226.2 million in 2005 and net income totalled $11.2 million compared with $9.7 million in the prior year period. During the second quarter world-wide net sales rose 14.6% (14.4% excluding currency impact) in comparison with the prior year quarter, primarily driven by sales growth in the company's international, domestic accessories and company- owned retail business segments.

Sales in Europe increased 18.7% (18.5% excluding currency impact) and other international sales increased 20.6% (19.8% excluding currency impact).

For the six-month period, net sales increased 14.1% to $523.5 million compared with $458.7 million in the corresponding period in 2005 and net income totalled $21 million compared with $33.5 million in 2005.