Fossil Q2 profit more than triples

New York City Fossil said Tuesday its second-quarter profit more than tripled, smashing analysts' expectations, as the watch and fashion-accessories retailer posted record results on big sales gains.

Fossil reported a profit of $54.5 million, up from $16.6 million a year earlier. Revenue jumped 31% to $412.6 million.

Analysts most recently estimated $382 million in revenue.