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Fossil Group, Inc.

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Fossil Group reported narrower-than-expected loss in the second quarter of fiscal 2017, while sales lagged the Zacks Consensus Estimate. Both losses and revenues were unfavorable from the year-over-year due to decline in traditional watches sales, sluggish leather and jewelry business as well as unfavorable currency. The company gave a bleaker outlook. The stock has also been underperforming for the last six months in comparison to the industry. Though the company’s watches category remains sluggish, we are impressed that the company’s connected watches have helped in growing the company’s sales. In fact, the company has planned to roll out a significant number of new wearable products in the coming months. Fossil also focuses on the New World Fossil restructuring program along with growth in the company’s core watch business and product expansion. Fossil is also looking to exit underperforming stores to generate savings.

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