Brief: Fossil Group, Inc. Reports Second Quarter 2022 Financial Results

Fossil

10/08/2022 21:57

Aug 10 (Reuters) - Fossil Group Inc  FOSL.O :
    * FOSSIL GROUP, INC. REPORTS SECOND QUARTER 2022 FINANCIAL
RESULTS
    * Q2 ADJUSTED LOSS PER SHARE $0.33
    * Q2 SALES FELL 10 PERCENT TO $371 MILLION
    * BELIEVE CONSUMER SENTIMENT WILL CONTINUE TO BE PRESSURED
IN
SECOND HALF OF YEAR
    * FOSSIL GROUP SAYS  SAW SOFTENING CONSUMER DEMAND DURING
QUARTER,
REFLECTING ONGOING INFLATIONARY PRESSURE AND CONTINUED
PANDEMIC-RELATED RESTRICTIONS IN CHINA
    * FOSSIL GROUP SAYS WHILE MACRO BACKDROP IMPACTED CORE
TRADITIONAL
WATCH CATEGORY, JEWELRY AND LEATHERS BUSINESSES GREW AT DOUBLE
DIGIT RATES IN QUARTER
    * FOSSIL GROUP - FOR FISCAL YEAR 2022, NOW EXPECTS WORLDWIDE
NET
SALES DECLINES OF ABOUT 8% TO 4% VERSUS PRIOR GUIDANCE OF NET
SALES GROWTH OF FLAT TO 3%
    * NOW EXPECTS FY ADJUSTED OPERATING MARGIN OF 2% TO 4%
COMPARED TO
PRIOR GUIDANCE OF 5.5% TO 6.5%.

Source text for Eikon:  ID:nGNXPwlyY 
Further company coverage:  FOSL.O 

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