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Fossil hires 2, promotes 1 on leadership team

NEW YORK (AP) -- Watch and accessories company Fossil Inc. on Tuesday announced two additions and a promotion among its executive ranks.

The Richardson, Texas-based company said Tom Kennedy was promoted to executive vice president; he had been a senior vice president in the company's retail division since 2009. In his new role, Kennedy will be responsible for the Fossil brand, including all product development and creative aspects.

Edward J. Robben joined the company as senior vice president and chief information officer, and Joanne Calabrese joined as senior vice president of retail merchandising.

Before Fossil, Robben served as chief information officer and board member for J.C. Penney Co. Calabrese was previously with JCR Consulting, a retail consulting firm based in San Francisco.

In May, Fossil issued a forecast for 2012 that fell short of Wall Street expectations. The company said sales in Europe have been hurt because of the weakening economy there and said it anticipates earnings of $5.30 to $5.40 per share. Analysts at that time had been forecasting $5.56 per share.