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Fossil quarterly profit down as operating expense rises
May 13, 2014 / 8:21 PM / 3 years ago

Fossil quarterly profit down as operating expense rises

May 13 (Reuters) - Fashion accessory maker and retailer Fossil Group Inc reported an 8 percent fall in quarterly profit, as operating costs shot up.

Fossil shares fell 8 percent in extended trading.

Operating expense rose to $338.5 million in the first quarter ended April 5 from $284.2 million a year earlier.

Net income fell to $66.3 million, or $1.22 per share, from $72.2 million, or $1.21 per share, a year ago.

Worldwide net sales increased 14 percent to $776.5 million. (Reporting by Devika Krishna Kumar in Bangalore; Editing by Joyjeet Das)

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