Are Fossil’s Watches Changing Its Time?

On July 4, 2014, we issued an updated research report on Fossil Inc (FOSL).

This global consumer fashion accessories maker and distributor reported mixed first-quarter 2014 results on May 14.

Fossil’s first quarter 2014 earnings exceeded both the Zacks Consensus Estimate as well as the company’s expectations. Revenue growth was at the higher end of the company’s expectations and managed to beat the consensus mark by a slight margin. Though first quarter results were strong, the company provided a weak guidance for the second quarter.

Earnings of $1.22 increased 10.9% year over year, driven by higher revenues, increased operating income and lower share count. Fossil’s net sales during the quarter increased 14% year over year on the back of continued growth in the watch portfolio.

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