Why Fossil Group Stock Plunged Today [The Motley Fool]
Fossil Group, Inc. (FOSL)
Last fossil group, inc. earnings: 11/6 04:03 pm
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US:NASDAQ Investor Relations:
fossilgroup.com/investors
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Source: The Motley Fool
Why Fossil Group Stock Plunged Today The watchmaker sees a rough road ahead. Shares of Fossil Group ( NASDAQ:FOSL ) plummeted more than 20% on Wednesday, following the release of the watchmaker's fourth-quarter results and guidance. Net sales fell 10% year over year, to $712 million, as declines in its Americas and Europe segments more than offset growth in its Asia division. This sales shortfall, combined with inventory writedowns, resulted in a net loss of $6.9 million, or $0.14 per share. Fossil's wholesale business remains under pressure from the struggles of department stores. The impact of retail store closures and bankruptcies more than offset growth in Fossil's e-commerce business. CEO Kosta Kartsotis said in a press release, "As we navigate the challenging operating environment, we are taking actions to pivot our business model by deploying greater resources toward the direct-to-consumer channel, accelerating our connected product offerings and building on our success in the
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FOSL
News
- Fossil Group, Inc. Announces Date for First Quarter 2024 Earnings Release and Conference CallGlobeNewswire
- Kanen Wealth Management Excoriates Fossil Board of Directors and Management for Unacceptably Slow Restructuring Plan [Yahoo! Finance]Yahoo! Finance
- Kanen Wealth Management Excoriates Fossil Board of Directors and Management for Unacceptably Slow Restructuring PlanGlobeNewswire
- Fossil Group Announces Appointment of Eugene Davis and Pamela Corrie to Board of Directors [Yahoo! Finance]Yahoo! Finance
- Fossil Group Announces Appointment of Eugene Davis and Pamela Corrie to Board of DirectorsGlobeNewswire
FOSL
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- FOSL's page on the SEC website