Fossil (FOSL) reported earnings Tue 7 Aug 2012

Fossil Inc.'s (FOSL, $92.15, +$22.36, +32.04%) second-quarter earnings rose 12% as the watch company saw sales growth in its wholesale segment accelerate across each of its geographical regions, particularly in Asia. The better-than-expected results appeared to spark some heavy-duty short-covering Tuesday; short interest in the first half of July jumped 27% to 4.1 million shares, more than 10% of Fossil's public float. Shares of fellow watch company Movado Group Inc. (MOV, $25.48, +$2.76, +12.15%) were also trading sharply higher.

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** Movado (MOV) **