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Holly LaFon
Holly LaFon
Articles (5739) 

Baron Funds Comments on Fossil Inc.

August 23, 2012 | About:

From Baron Funds' second quarter commentary:

Shares of Fossil, Inc. (NASDAQ:FOSL), the consumer fashion company that sells watches and accessories under its own brand and those of prominent licensees (including Michael Kors and Giorgio Armani), fell meaningfully. Weaker European consumer spending led to lower than expected first quarter sales, and the company lost over $3 billion in stock market value when it announced a lower earnings outlook for 2012. We believe that Fossil's longer term prospects remain favorable.We believe the company will sign additional licenses with well-known designers and that it has the opportunity to meaningfully grow its profitable Asian sales.We also believe the company's recent acquisition of Skagen Designs Ltd., a Scandanavian themed watch manufacturer, will be a positive development.


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