×
184
Fashion Jobs
ACTIVEWEAR & TECHNICAL TEXTILE DIVISION
Production Manager (Apparels/Garment)
Permanent · Ludhiana
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Jaipur
ADECCO INDIA PRIVATE LIMITED
Job Opening For Area Sales Manager Role For Mnc Company
Permanent · Bengaluru
VISAGE BEAUTY AND HEALTH CARE
Area Sales Manager (Cosmetics/Skin Care Retail General Trade)
Permanent · Chennai
FORTUNE HR SOLUTIONS
General Manager - ie
Permanent · Tiruppur
ALUDECOR LAMINATION PVT LTD
Area Sales Manager - Patna
Permanent · Patna
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
RAKSHA PIPES PVT. LTD
Area Sales Manager
Permanent · Chennai
RENEWBUY
Area Sales Manager - Kolkata/Ranchi/Bhubaneswar
Permanent · Bhubaneswar
TRIDHAATU REALTY AND INFRA
Sales Manager - Real Estate (Closing)
Permanent · Mumbai
INFOGAIN
Production Support Manager- Opening
Permanent · Pune
ADD UR CO LLP
Production Manager
Permanent · Chennai
LE HUMAN RESOURCES SOLUTIONS PVT LTD
Production Manager
Permanent · Pune
FIRST MERIDIAN BUSINESS SERVICES
Head Production Manager
Permanent · Gurugram
ADECCO INDIA PRIVATE LIMITED
Sales Manager
Permanent · Mumbai
ALEMBIC PHARMACEUTICALS
Area Development Manager
Permanent · Pune
LEVI'S
Technical Product Manager
Permanent · Bengaluru
THE SEARCH HOUSE (A DIV OF JSD SEARCH HOUSE PVT. LTD.)
Manager Production-Sheet Metal (Laser /Punching/ Press Break)
Permanent · Bhiwadi
ABHAY INDUCTION TECH PVT LTD
Sales Manager
Permanent · Ahmedabad
FREELANCER PRATIK PARIKH
Opening in Leading Life Insurance Company/ Area Business Manager
Permanent · Gandhinagar
MANISHMEDI INNOVATION
Area Sales Manager
Permanent · Hyderabad
OJB HERBALS
Area Sales Manager
Permanent · Ranchi
By
Reuters
Published
Nov 11, 2008
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Fossil outlook hit by weak economy, strong US dollar

By
Reuters
Published
Nov 11, 2008

* Cuts Q4 profit view

* Cites weak economy, strengthening U.S. dollar

* Q3 EPS 54 cents beats Street by 2 cents

* Q3 sales beat est. by $4.7 mln

* Shares down 6 pct

Nov 11 (Reuters) - Watchmaker Fossil Inc posted better-than-expected quarterly results, but cut its fourth-quarter earnings outlook to reflect a weaker economy and pressure from the strengthening U.S. dollar, sending its shares down 6 percent.


www.Fossil.com

"Since the end of the third quarter business conditions have grown more challenging," Chief Financial Officer Mike Kovar said in a statement.

"Global economies have weakened, but even more significant to our business model, is that the U.S. dollar has strengthened appreciably against most other currencies."

Fossil, known for its namesake watches and Relic handbags, derives a significant portion of its sales from international markets.

The company, which also sells jewelry, leather goods, belts, sunglasses and apparel, expects fourth-quarter earnings of 70 cents a share, or 91 cents a share on a constant dollar basis.

The company, which competes with Quiksilver Inc , Movado Group Inc and larger rival like Coach Inc , had earlier forecast earnings of 94 cents to 97 cents a share for the period.

Fossil posted a third-quarter profit of $36.5 million, compared with $30.5 million a year earlier. Net sales rose 14 percent to $409.8 million.

Total international wholesale sales rose about 16 percent.

Other international wholesale sales increased about 23 percent, driven mainly by sales volume growth in Fossil and licensed brand watches and jewelry. Direct to consumer sales rose 22 percent, while e-commerce sales surged 33 percent.

Shares of the company fell to $14.10 before the bell, after closing at $14.98 Monday on Nasdaq.

For the alerts, please double-click .

For the press release, double-click . (Reporting by Dilipp S. Nag in Bangalore; Editing by Pratish Narayanan)

© Thomson Reuters 2022 All rights reserved.