• Fossil Shares Surge 79% As Wearable Tech Spurs Sales

    One year ago - By Fortune

    Watch out, naysayers, Fossil Group fosl is staging a comeback.
    The watchmaker's shares surged as much as 79% on Wednesday after it reported much better-than-expected quarterly sales, buoyed by wearable technology, a market dominated by Apple aapl
    , and strong e-commerce growth to the tune of a 31% jump. Fossil's comparable sales rose 2% in its fourth quarter, well above the 6% drop Wall Street had been anticipating, according to Consensus Metrix. Indeed, the company said sales of wearable devices such as smartwatches had doubled in 2017 to $300 million, or 14% of total watch sales.
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