Fossil Jumps As Results, Outlook Top Expectations

Fossil Group Inc. shares jumped 5% in after-hours trading on Tuesday after the watchmaker reported better-than-expected profit and outlook. First-quarter profit fell to $38.1 million, or 75 cents a share, from $66.3 million, or $1.22 a share, a year earlier. Excluding currency impact and a 16-cent restructuring charge, Fossil said it would have earned $1.04 a share. Analysts surveyed by FactSet were looking for profit of 68 cents a share. Sales fell 7% to $725 million, hurt by a stronger dollar. The company sees adjusted per-share profit, excluding the impact of restructuring charge and sales impact from an extra week in fiscal 2014, of $1.18 to $1.29 in the second quarter and $7 to $7.60 a share for the year. Analysts surveyed by FactSet were looking for profit of 71 cents a share in the second quarter and $5.80 for the year.