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Fossil, Warnaco jump; Office Depot drops

8/7/12 10:58 AM ET (MarketWatch)

NEW YORK (MarketWatch) -- Fossil Inc. shares surged 29% on Tuesday after the watch and accessories maker reported a better-than-expected second-quarter profit. The results also relieved worries about its Asian and European businesses. Rival Movado Group Inc. also rose 10%. Calvin Klein jeans and underwear maker Warnaco Group Inc. shares climbed 13% after its second-quarter results also topped expectations. PVH Corp. , Calvin Klein's parent company, rose 7%. GUESS? Inc. rose 7.4%. Coach Inc. was up 4.9% after it was raised to buy from hold by Canaccord Genuity. Office-supplies retailer Office Depot Inc. fell 4% after its second-quarter loss widened. Electronics retailer Best Buy Co. fell 2.7%. On Monday, the stock gained 13% after its founder Richard Schulze proposed to take the company private.