USA Fossil Q1 gross profit rise 17.4% to $156.mn - Fashion News USA watch Replica
USA : Fossil Q1 gross profit rise 17.4% to $156.mn - Fashion News USA
Fossil Inc reported record first quarter net sales and gross profit and certain balance sheet highlights for the thirteen-week period ended April 7(Replica Chanel Watches watches). 2007 (“First Quarter”) Replica watches. which compares to a fourteen-week period in the prior year first quarter.
“First quarter results included better-than-expected sales volume growth internationally Fake Thomas wylde watche. driven by FOSSIL and licensed watch brands Replica. combined with higher retail sales volumes through our company-owned stores Handbags.” began Mike Kovar Louis Vuitton Watches watch Replica. Senior Vice President and Chief Financial Officer of Fossil Inc.
“During the quarter(Chanel Watches Fake watches). we also made further progress regarding our inventory management goals Replica watches Replica . reporting a 7% reduction in inventory versus a year ago(Louis Vuitton Replica watch). despite an increase in company-owned retail locations. As we look ahead Replica Patek Philippe Watches. we are excited about the opportunities to capitalize on the growing importance of our brands globally(Swiss Rolex Watches Handbags watche). including product extensions associated with our non-watch businesses Replica Audemars Piguet Watches. and increasing our global retail presence.”
The Company noted that the First Quarter included thirteen weeks of results of the Company’s operations compared to fourteen weeks in the prior year quarter. The Company stated in the previous year that it believed the extra week in its fiscal 2006 first quarter increased net sales by approximately $16.0 million. Nevertheless Replica Watches Gucci Handbags. worldwide net sales for the First Quarter rose 15.4% (12.4% excluding currency) in comparison to the prior year quarter.
Total international wholesale sales rose 27.1% (20.8% excluding currency). Sales in Europe increased 23.7% (14.7% excluding currency)(Balenciaga Fake watches). primarily as a result of sales volume growth in FOSSIL and licensed watches and FOSSIL jewelry. Other international sales increased 34.5% (34.1% excluding currency) driven by increased volume in licensed and FOSSIL brand watches.
Sales from the Company’s domestic watch business declined 3.8% Gucci Watches watch Replica. or 1% excluding discontinued product sales in both the First Quarter and the prior year quarter. Sales volume declines in the Company’s mass market and special market watch businesses were partially offset by increased sales of licensed watches. Domestic sales of FOSSIL watches watch Replica. excluding discontinued product sales from both the First Quarter and the prior year quarter watch Replica. increased by 1.3%.
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