Strong digital sales boost third quarter earnings for U.S. fashion group Fossil

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Fossil Group, a global design and innovation company specializing in lifestyle accessories, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, compared to sales of $ 435.5 million in the prior year. same previous fiscal period. Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

Fossil Group, a global lifestyle accessories company, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, by compared to sales of $ 435.5 million in the same period last year. . Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

“Sales growth, strong gross margins and continued expense management resulted in adjusted operating margins of 11% in the third quarter. Continued focus on our four strategic priorities is fueling large-scale sales growth, driven by digital channels ”, Kosta Kartsotis, CEO of Fossil Group, said in a press release.

Fossil Group, a global lifestyle accessories company, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, by compared to sales of $ 435.5 million during the same period last year. . Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

Gross profit in the third quarter reached $ 259.5 million ($ 229.8 million), while operating expenses remained flat at $ 211.7 million ($ 212.3 million) . Net income nearly doubled in the quarter to reach $ 31.4 million ($ 16.0 million).

Fossil Group, a global lifestyle accessories company, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, by compared to sales of $ 435.5 million during the same period last year. . Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

By region, the Americas became the largest market with sales of $ 193.7 million ($ 175.1 million), while Europe saw a strong increase in sales to $ 165.9 million ( $ 135.3 million). Additionally, sales from Asia jumped to $ 129.5 million ($ 119.7 million).

Fossil Group, a global lifestyle accessories company, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, by compared to sales of $ 435.5 million during the same period last year. . Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

As for product categories, Fossil said its leather business has fallen to $ 36.4 million ($ 37.7 million). Watch sales accelerated in the third quarter to $ 393.7 million ($ 356.6 million).

Fossil Group, a global lifestyle accessories company, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, by compared to sales of $ 435.5 million in the same period last year. . Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

“We are entering the holiday season with a healthy inventory position and strong consumer demand within our largest markets and core categories. As we look to 2022, we are confident that the company is well positioned operationally and financially. We have the talent, the tools and the financial flexibility to continue to drive growth and create long-term shareholder value, ”Kartsotis concluded.

Fossil Group, a global lifestyle accessories company, announced a 13% increase in sales to $ 491.8 million in the third quarter (Q3) of fiscal 21, ended October 2, 2021, by compared to sales of $ 435.5 million during the same period last year. . Digital sales for the three-month period increased 28%, accounting for 40% of total sales.

In addition, the US company has raised its outlook and now expects sales growth for FY21 of around 17-19% (previous forecast: 14-17%).

Fibre2Fashion Information Office (JL)


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