Fossil 4Q17 brisk sales | stock price rose 60%

Driven by the demand for wearable devices and e-commerce, the Fossil Group recorded impressive holiday sales by the end of 2017. The stock price soared 60% after the release of the news. Fossil released data showing a 2% Q4 same-store sales growth, breaking market expectations Analysts had expected a 6% decline in quarterly same-store sales, according to the forecast compiled by Consensus Metrix.

Fossil's dazzling fourth-quarter results mean the company has successfully entered the smartwatch and other technology devices market, according to data, Fossil wearable device sales in 2017 nearly doubled to 300 million US dollars, accounting for the whole Fossil, in addition to selling its own brand of products, also manufactures watches for Michael Kors and Armani.

Kosta Kartsotis, chief executive of Fossil, said Fossil will remain a small, more profitable company for the coming year and is on the path to stability for the future.

Fossil shares in the US stock market on the 13th after the intraday trading reached 14.44 US dollars once, higher than the closing price of 9.04 US dollars the day soaring 59.7%. As of the closing 13th of 2018, Fossil shares rose 16%.

Fossil estimates that about US $ 50 million in restructuring costs will be included in 2018, including the $ 20 million in the first quarter, and the quarterly sales forecast is 6-12% down from the same period in 2017. TOP ▲