UPDATE 2-Fossil outlook hit by weak economy, strong US dollar

martes 11 de noviembre de 2008 14:51 CET

* Cuts Q4 profit view

* Cites weak economy, strengthening U.S. dollar

* Q3 EPS 54 cents beats Street by 2 cents

* Q3 sales beat est. by $4.7 mln

* Shares down 6 pct (Adds Q4 sales outlook, Armani agreement, background)

Nov 11 (Reuters) - Watchmaker Fossil Inc (FOSL.O: Cotización) posted better-than-expected quarterly results, but cut its fourth-quarter earnings outlook to reflect a weaker economy and pressure from the strengthening U.S. dollar, sending its shares down 6 percent.

"Since the end of the third quarter business conditions have grown more challenging," Chief Financial Officer Mike Kovar said in a statement.

"Global economies have weakened, but even more significant to our business model, is that the U.S. dollar has strengthened appreciably against most other currencies."

Fossil, known for its namesake watches and Relic handbags, derives a significant portion of its sales from international markets.   Continuación...