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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.

A Fossil Group Inc. Misfit Vapor smartwatch.

Photographer: David Paul Morris/Bloomberg
Updated on

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.