Fossil Group Q1 net sales $325M (-14% YoY); operating loss widens to $37M

Fossil Group, Inc.

2023-Q1 EPS reported -$0.80 revenue$325,036,000

Net sales $325M, down 14% reported and 11% constant currency; wholesale down 20%.
Operating loss of $37M vs $14M loss a year ago; adjusted operating loss $25M.
Direct-to-consumer net sales up 8% constant currency; comparable retail sales +13%.
Extended Diesel license through 2027 and Armani license through 2026.
Inventory down 13% to $337M; cash $127M; FY2023 outlook maintained.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fossil Group, Inc. reported first quarter ended April 1, 2023 results: revenue $325 million. Guidance reaffirmed.

Period: first quarter ended April 1, 2023
Revenue: $325 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended April 1, 2023. First Quarter Summary • First quarter worldwide net sales decreased to $325 million, down 14% on a reported basis and 11% in constant currency, with declines in all three regions. • Direct to consumer net sales up 8% in constant currency, with comparable retail

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Source: SEC EDGAR

accession 0000883569-23-000013

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