Sturdy digital gross sales drives American trend group Fossil’s Q3 outcome


Fossil Group, a world design and innovation agency specialising in life-style equipment, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

 

Fossil Group, a world life-style equipment agency, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

“High line development, stable gross margins and ongoing expense administration drove adjusted working margins of 11 per cent within the third quarter. A seamless concentrate on our 4 strategic priorities is fuelling broad-based gross sales development, led by digital channels,” Kosta Kartsotis, chairman and CEO at Fossil Group, stated in a press launch.

 

Fossil Group, a world life-style equipment agency, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

Gross revenue throughout Q3 rose to $259.5 million ($229.8 million), whereas working bills remained stagnant at $211.7 million ($212.3 million). Internet earnings almost doubled through the quarter to $31.4 million ($16.0 million).

 

Fossil Group, a world life-style equipment agency, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

By area, Americas emerged as the most important market with gross sales of $193.7 million ($175.1 million), whereas Europe registered a pointy enhance in gross sales to $165.9 million ($135.3 million). Furthermore, gross sales from Asia surged to $129.5 million ($119.7 million).

 

Fossil Group, a world life-style equipment agency, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

As for product classes, Fossil stated its leathers enterprise slipped to $36.4 million ($37.7 million). Watches gross sales accelerated within the third quarter to $393.7 million ($356.6 million).

 

Fossil Group, a world life-style equipment agency, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

“We’re coming into the vacation season with a wholesome stock place and robust shopper demand inside our largest markets and core classes. As we look forward to 2022, we really feel assured that the enterprise is well-positioned from each an operational and monetary perspective. We’ve the expertise, instruments and monetary flexibility to proceed to drive development and construct shareholder worth over the long-term,” Kartsotis concluded.

 

Fossil Group, a world life-style equipment agency, has reported a 13 per cent gross sales enhance to $491.8 million within the third quarter (Q3) of FY21 ended on October 2, 2021, in comparison with the gross sales of $435.5 million in the identical interval of prior fiscal. Digital gross sales for the three-month interval expanded 28 per cent, representing 40 per cent of the full gross sales.

Moreover, the American firm raised its outlook and now expects FY21 gross sales to develop roughly 17-19 per cent (earlier outlook: 14-17 per cent).

Fibre2Fashion Information Desk (JL)

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