Net sales up 15% at Fossil
US-based leather and other luxury goods firm Fossil, Inc. has posted higher net sales second quarter and first half ended July 5.
Second quarter net sales increased 15.2% to $353.2 million compared with $306.5 million in the same quarter of 2007. Gross profit rose 26.4% to $190.3 million, or 53.9% of net sales, compared with $150.5 million, or 49.1%, of net sales and net income rose 71.3% to $25.1 million compared with $14.7 million.
For the first six months of 2008, net sales increased 16% to $709.4 million compared with $611.3 million in the prior-year period. Gross profit increased 25.4% to $384.6 million, or 54.2% of net sales, compared with $306.6 million, or 50.2%, of net sales and net income increased 39.4% to $55.4 million compared with $39.7 million.
