Fossil Q1 gross profit rise 17.4% to $156.mn

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Fossil Inc reported record first quarter net sales and gross profit and certain balance sheet highlights for the thirteen-week period ended April 7,Uggs boots, 2007 ("First Quarter"),burberry bag, which compares to a fourteen-week period in the prior year first quarter. Cartier Watches
??First quarter results included better-than-expected sales volume growth internationally,jewelry stores, driven by FOSSIL and licensed watch brands, combined with higher retail sales volumes through our company-owned stores,?? began Mike Kovar, Senior Vice President and Chief Financial Officer of Fossil Inc.Bedat Watches
??During the quarter, we also made further progress regarding our inventory management goals, reporting a 7% reduction in inventory versus a year ago, despite an increase in company-owned retail locations. As we look ahead, we are excited about the opportunities to capitalize on the growing importance of our brands globally, including product extensions associated with our non-watch businesses, and increasing our global retail presence.??Casio Watches
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, 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),necklace, 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. Kenneth Cole Watches
Sales from the Company??s domestic watch business declined 3.8%, 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, excluding discontinued product sales from both the First Quarter and the prior year quarter, increased by 1.3%.