Fossil Kicks Off Record-Setting Rally as Smartwatches Lift Sales
- Wearable device revenue almost doubled in 2017 to $300 million
- Company posted surprise gain in same-store sales last quarter
A Fossil Group Inc. Misfit Vapor smartwatch.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Fossil Group Inc. surged as much as 83 percent, the most since it went public almost 25 years ago, after new wearable technology and e-commerce demand helped fuel a surprise sales gain in the holiday quarter.
Comparable sales -- a key measure -- climbed 2 percent in the fourth quarter, Fossil said on Tuesday. Analysts had projected a 6 percent decline, according to Consensus Metrix.