Fossil Rises After Third-Quarter Results Top Estimates
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Fossil Group Inc. surged as much as 19 percent in late trading yesterday after posting third-quarter sales and earnings that topped analysts’ estimates, helped by its namesake and Skagen watch brands.
Sales rose 10 percent to $894.5 million while profit climbed to $1.96 a share, the Richardson, Texas-based company said yesterday in a statement. Analysts estimated sales of $877.8 million and earnings of $1.82 a share.