Fossil Group (FOSL) Misses Q2 EPS by 15c; Guides Lower

Fossil Group (NASDAQ: FOSL) reported Q2 EPS of ($0.61), 15 cents below the analyst estimate of ($0.46). Revenue for the quarter came in at $597 million versus the consensus estimate of $617.9 million.

Guidance:

GAAP GuidanceFor fiscal 2017, the Company now expects the following:

• Net sales to decline in the range of a 8.5% to 4.5%
• Operating margin in a range of (14.7)% to (12.5)%
• Diluted earnings (loss) per share in a range of ($7.42) to ($6.62), including $6.50 of non-cash intangible asset impairment charges and $0.60 of restructuring charges

For the third quarter of fiscal 2017, the Company expects the following:

• Net sales to decline in the range of 14.0% to 8.0%
• Operating margin in a range of (2.7)% to 0.5%
• Diluted earnings (loss) per share in a range of ($0.44) to ($0.11), including $0.06 of restructuring charges

For earnings history and earnings-related data on Fossil Group (FOSL) click here.

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