earnings
confidence high
sentiment negative
materiality 0.75
Fossil Q2 net sales $371M down 10%; operating loss $11M vs prior year profit
Fossil Group, Inc.
2022-Q2 EPS reported
-$0.78
revenue$747,021,000
- Net sales $371M, down 10% reported (5% constant currency); operating loss $11M vs income $14M a year ago.
- Adjusted operating loss $8M vs adjusted operating income $21M; cash and equivalents $167M.
- FOSSIL brand sales +7% constant currency; traditional watches, jewelry, leathers up double-digit; smartwatches down.
- Direct-to-consumer +5% constant currency; store sales up 26% partially offset by e-commerce decline.
- Updated full year 2022 outlook citing softening consumer demand, inflation, and China restrictions.