Fossil watches announces great end to 2009

First published: 26-02-2010

Fossil watches continue to go from strength to strength, with the organisation reporting impressive sales for 2009 as a whole, as well as during the final quarter of the year.

It announced that fourth quarter net sales rose by 13.7 per cent to a record level of $527.8 million (£347.7 million).

Executive vice president and chief financial officer of Fossil watches Mike Kovar said that the company is pleased to report record fourth quarter net sales and earnings, alongside a record year for net income.

He continued: "Product innovation across our watch and accessories offerings, the successful execution of our key growth initiatives and the ongoing strength of our global operating footprint all contributed to an outstanding finish to a challenging year."

Mr Kovar added that Fossil ended 2009 in a positive and strong financial position, with a "substantial increase in free cash flow", therefore satisfying the ongoing effort to increase value for stockholders.

Fossil has a number of different ranges throughout the seasons and its most famous link is perhaps with Philippe Starck, a firm proponent of New Design styles and themes.

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