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Article: FOSSIL 2Q PROFITS SURGE 52%, INKS DEAL WITH MARC JACOBS.
- Article from:
- WWD
- Article date:
- August 11, 2004
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Emily Holt, Vicki M. Young
NEW YORK -- Fossil Inc. has cause for celebration: stellar second-quarter results and a new licensing agreement with Marc Jacobs.
The watch company on Tuesday posted a 51.9 percent jump in second-quarter earnings to $15.8 million, or 21 cents a diluted share, for the three months ended July 3 from $10.4 million, or 14 cents, in the same year-ago period. Sales rose 29.2 percent to $206.1 million from $159.6 million.
Kosta Kartsotis, president and chief executive officer, told Wall Street analysts during a conference call, "Once again, our operating models proved successful, as we surpassed both internal and ...