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Fossil Inc. Reports Record 3rd Quarter Results

November 10, 2011

Fossil Inc. reported earnings for the 13 week (3rd quarter) and 39 week (Nine month period) periods ended October 1/11, and the results were fantastic, and exceeded Wall Street's expectations/forecasts. Here's a snapshot of the results:

Third Quarter Results (2011 vs 2010)


- Net sales increased 22.7% to $642.9 million compared to $523.8 million
- Gross Profit rose 20.3% to $359.5 million compared to $298.7 million
- Operating income increased 6.8% to $118.8 million compared to $113.3 million
- Global retail comp sales increased by 14.1% (8th consecutive quarter of double digit same store sales)

Nine Month Period Results (2011 vs 2010)

- Net sales increased 30.6% to $1.74 billion compared to $1.33 million
- Gross Profit rose 28.9% to $973.3 million compared to $755 million
- Operating income increased 31.2% to $297.6 million compared to $226.9 million

Congratulations to Fossil. Keep up the great work.

I am also pleased to report that Fossil Inc recently announced a strategic partnership with Karl Lagerfeld to design, develop, and distribute a line of men's and women's timepieces under the Karl Lagerfeld lable. Karl Lagerfeld is an icon for creativity and a beacon for the spirit of fashion globally. The exciting collaboration will leverage Fossil's design and distribution expertise with the essence of creativity and style that is synonymous with the Karl Lagerfeld brand. The first timepiece collection is scheduled to be launched in spring 2013 under the name of Karl Lagerfeld.

In other Fossil news, the company recently opened at Fairview Park in Kitchener, Ontario, and continue to look at Canada, for growth opportunities. Super-regional malls and high pedestrian street-front locations will be considered. Size required is 1500 sq.ft.

Fossil products are sold in 123 countries. The company operates 360 company owned stores.

For more information, please visit Fossil's website at www.fossil.com.