US-based luxury leathergoods producer Fossil has reported higher sales for the fourth quarter ended January 2, 2010. 

Fourth-quarter net sales increased 13.7% to $527.8 million compared with $464.1 million, with shipments of accessories up 5.7%, primarily due to increased shipments of Fossil women's handbags. Gross profit rose 22.8% to $297.6 million, or 56.4% of net sales, compared with $242.4 million, or 52.2% of net sales, during the fourth quarter of 2008. Net income increased 51.2% to $70 million compared with $46.3 million.

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