Fossil Group (FOSL) Reports Q1 Loss of $0.30, provides outlook

Fossil Group (NASDAQ: FOSL) reported Q1 EPS of ($0.30). Revenue for the quarter came in at $254.9 million, versus $0 reported last year.

Outlook:

Outlook

The Company is reiterating its full year financial outlook for 2024. Worldwide net sales are expected to be approximately $1.2 billion, reflecting consumer and channel softness, as well as approximately $100 million of negative impact related to the exit of its smartwatch business, and the closure of Fossil retail stores. Fiscal year adjusted operating margin(1) is expected to be in the range of -3% to -5%. The Company expects to generate positive free cash flow(2) in full year 2024, inclusive of tax refunds of approximately $57 million, which were received in the second quarter of 2024.

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

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