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Fossil - Record Sales and Earnings

March 10, 2011

Late last month, Fossil Inc released it's 4th quarter results for 2010; the results were outstanding.

Fourth Quarter Results (2010 vs 2009)

- Net sales increased 32.8% to $701.1 million compared to $527.8 million
- Gross Profit increased 34.5% to $400.1 million, or 57.1% of net sales, compared to $297.6 ,million, or 56.4% of net sales;
- Operating income increased 38.5% to $149.5 million, or 21.3 of net sales, compared to $108 million, or 20.5% of net sales
- Net income increased 38.1% to $96.7 million compared to $70 million
- Global retail comps Increased 20.3%

Fiscal Year Results

- Net sales increased 31.2% to $2.03 billion compared to $1.55 billion
- Gross Profit increased 36.7% to $1.16 billion, or 56.9% of net sales, compared to $0.84 ,billion, or 54.6% of net sales;
- Operating income increased 77.9% to $376.4 million, or 18.5 of net sales, compared to $211.6 million, or 13.7% of net sales
- Net income increased 83.4% to $255.2 million compared to $139.2 million

Fossil is prepared to open approximately 6 Canadian locations in 2011, and are targeting super-regional malls. Size required is 1500 sq.ft (with minimum of 23.5 ft storefront).

In addition, Fossil is also seeking to open one Fossil Outlet in Ontario or Quebec in 2011. Size required is 3000-6000 sq.ft.

Fossil is also now prepared to open the first Watch Station store in Canada, which specializes in the sale of all licensed brand watches (Michele, Burberry, DKNY, Armani...etc).  

Fossil operates 360 corporate stores in 15+ countries.

For more information on Fossil, please visit their website at www.fossil.com.

Should you have any questions, comments, or require additional information, please contact me.