Fossil Group, a global design and innovation firm specialising in lifestyle accessories, has reported 59 per cent sales acceleration to $410.9 million in second quarter (Q2) of FY21 ended on July 3, 2021, compared to $259.0 million in the same period of prior fiscal. The company has raised its FY21 outlook and expects sales to rise between 14 to 17 per cent.
Fossil Group, a global design and innovation firm specialising in lifestyle accessories, has reported 59 per cent sales acceleration to $410.9 million in second quarter (Q2) of FY21 ended on July 3, 2021, compared to $259.0 million in the same period of prior fiscal. The company has raised its FY21 outlook and expects sales to rise between 14 to 17 per cent.#
“Our strong second quarter performance reflects solid operational execution across all channels and regions in a challenging consumer environment,” Kosta Kartsotis, chairman and CEO at Fossil Group, said in a press release. “We are encouraged by improving consumer demand in our largest markets and our core category of traditional watches.”
Fossil Group, a global design and innovation firm specialising in lifestyle accessories, has reported 59 per cent sales acceleration to $410.9 million in second quarter (Q2) of FY21 ended on July 3, 2021, compared to $259.0 million in the same period of prior fiscal. The company has raised its FY21 outlook and expects sales to rise between 14 to 17 per cent.#
Digital sales for Q2 surged 10 per cent representing 41 per cent of the total sales. Gross profit improved to $221.8 million ($140.6 million), while operating expenses were $207.5 million ($177.4 million). Net loss during the quarter reduced to $1.2 million ($22.5 million).
Fossil Group, a global design and innovation firm specialising in lifestyle accessories, has reported 59 per cent sales acceleration to $410.9 million in second quarter (Q2) of FY21 ended on July 3, 2021, compared to $259.0 million in the same period of prior fiscal. The company has raised its FY21 outlook and expects sales to rise between 14 to 17 per cent.#
Sales from Americas region jumped 67 per cent to $176.7 million ($105.8 million), and Europe sales expanded 56 per cent to $124.4 million ($79.5 million). Furthermore, sales from Asia during second quarter grew 50 per cent to $103.5 million ($69.2 million).
Fossil Group, a global design and innovation firm specialising in lifestyle accessories, has reported 59 per cent sales acceleration to $410.9 million in second quarter (Q2) of FY21 ended on July 3, 2021, compared to $259.0 million in the same period of prior fiscal. The company has raised its FY21 outlook and expects sales to rise between 14 to 17 per cent.#
“Looking ahead we are pleased that our digital initiatives, brand-building efforts and ongoing transformation activities are positioning the business to deliver sustained sales and earnings growth over the long-term,” Kartsotis concluded in the release.
Fibre2Fashion News Desk (JL)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
