Fossil Group Q4 net sales down 17% to $499M; full year operating loss $1M vs $93M profit year ago

Fossil Group, Inc.

Q4 net sales $499M (-17% reported, -12% constant currency); declines across all regions.
Full year net sales $1,682M (-10% reported, -5% CC); wholesale down 11% CC, DTC up 5% CC.
Full year operating loss $1M vs operating income $93M prior year; adjusted operating income $7M (0.4% of sales) vs $124M (6.6%).
Diluted loss per share $0.85 (adjusted loss $0.71) vs diluted EPS $0.48 (adjusted $1.12) prior year.
Cash and cash equivalents $199M as of Dec 31, 2022; company outlines 'Transform and Grow Plan' amid headwinds.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fossil Group, Inc. reported the fiscal quarter and year ended December 31, 2022 results: revenue $499 million, EPS $0.85. Guidance initiated.

Period: the fiscal quarter and year ended December 31, 2022
Revenue: $499 million
EPS: $0.85
Guidance: initiated
Result: reported results

Exact text from the filing

financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter and Full Year Summary • Fourth quarter worldwide net sales decreased to $499 million, down 17% on a reported basis and 12% in constant currency with sales declines across all regions. Growth in the Company’s direct to consumer channel was offset by declines in

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Fossil Group, Inc. filing history →

Source: SEC EDGAR

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