Fossil revenue misses estimates on lower sales in Europe

Tue Nov 6, 2012 7:23am EST

Nov 6 (Reuters) - Fashion accessories maker Fossil Inc posted lower-than-expected quarterly revenue due a fall in sales in Europe and a stronger dollar.

Net income attributable to Fossil rose to $76.8 million, or $1.26 per share, in the third quarter, from $69.6 million, or $1.09 per share, a year earlier.

On an adjusted basis, the company earned $1.28 per share.

Fossil, which sells its namesake brand as well as Michael Kors, Armani Exchange and Marc by Marc Jacobs, said revenue rose 6.4 percent to $684.2 million.

Analysts on average had expected earnings of $1.16 per share on revenue of $713.1 million, according to Thomson Reuters I/B/E/S.


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