The word "fossil" probably brings to mind a bony old relic. However, Fossil
Fossil's second-quarter net income soared 71.3% to $25.1 million, or $0.36 per share. Revenue jumped 15.2% to $353.2 million (granted, excluding currency impact, it was a 9.3% increase). Fossil also managed to boost its gross profit to 53.9% of sales versus 49.1% of sales this time last year.
These are good tidings in these troubled times; after all, many consumer-goods stocks have spooked investors lately. Consider Coach
Fossil hasn't remained unscathed; its stock got roughed up last quarter when it gave second-quarter guidance Wall Street didn't particularly like, guiding for 12% to 14% revenue growth and $0.25 per share in earnings, which, of course, you can see it handily beat. (I have to say I find it interesting, to say the least, that it surpassed its own guidance to such an extent.)
Now, Fossil's upping its guidance, expecting a third-quarter revenue increase in the mid-teens, and earnings up 23% to $0.53 per share. For the full year, it expects earnings to increase by about 30% to a range of $2.27 to $2.30 per share.
Back in May, I took a look at both Fossil and premium denim company True Religion
There are definitely some consumer-goods stocks I just wouldn't touch in the current climate; I've made my concerns known about companies like Crocs
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