RICHARDSON (November 6, 2012)--Watch and fashion accessories maker Fossil Inc. reported third-quarter revenue that fell short of Wall Street expectations, citing weakness in its European wholesale business.
For the quarter, the Richardson-based company’s net income rose 10 percent as it benefited from the acquisition of Skagen brand and the opening of more company-owned stores.
The company earned $76.8 million, or $1.26 per share, for the period ended Sept. 29, up from $69.6 million, or $1.09 per share, in same period a year ago.
Revenue rose 6 percent to $684.2 million.
Analysts expected earnings of $1.16 per share on revenue of $712.7 million