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Yorkdale & Pacific Centre Top the List of New Canadian Fossil Stores

June 06, 2013

Richardson, Texas based watch and fashion accessory specialist Fossil  confirmed plans to open 10 new Canadian locations. At the top of the list are Canada's two highest performing centres, Pacific Centre ($1500 psf) and Yorkdale ($1300 psf). The company also confirmed that they will open (later this month) their first Canadian high street location, on Sainte Catherine Street in downtown Montreal.  
 
The following is the listing of all upcoming Fossil openings with opening month in parenthesis;
 
1253 Sainte Catherine Street (June)
Yorkdale (August)
Pacific Centre (October)
Toronto Premium Outlets (August)
Richmond Centre (September)
Guilford Town Centre (September)
Markville Shopping Centre (September)
Fairview Pointe Claire (September)
Champlain Place (September)
Tanger Ottawa Outlets (July 2014)
 
At the end of 2013, Fossil will operate 25 stores in Canada.
 
In addition to the above, Fossil is poised for further Canadian expansion (in 2014 and 2015) and is focused on the following provinces: Alberta, British Columbia, Ontario, and Quebec. Super regional malls and downtown street-front locations will be considered. Size required is 1250-1500 sq.ft. Outlet stores require 3000 sq.ft.
 
With respect to performance, Fossil's Canadian average now exceeds $1000 psf - OUTSTANDING!
 
In other Fossil news, the company reported record 1st quarter 2013 earnings.
 
Here's a quick snapshot of the results;
 
- Net sales increased 15% to a Record $681M
- EPS increased to a Record $1.21
- North American wholesale increased 13%; Europe wholesale increased 14%
- Direct to consumer sales increased 22%
- Global retail comps increased 4.3%, the 20th consecutive quarter of positive comps
- Operating Income increased 14%
 
Net sales grew in all segments compared to the prior fiscal year first quarter. Simply put, Fossil is off to a great start to 2013.
 
Fossil products are sold to department stores and specialty watch and jewelry stores in 130 countries worldwide. Fossil also operates over 450 company owned and operated stores in 15+ countries.
 
For additional information on Fossil, please visit their website at www.fossil.com.
 
To learn more about the Canadian retail market and how your company can prosper in Canada, please contact me at tflanz@thinkretail.ca.