Fossil Group, Inc. Reports Fourth Quarter and Full Year 2019 Results; Provides 2020 Financial Guidance
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Fossil (FOSL) PT Lowered to 'Street Low' $3 at Wells Fargo
February 26, 2020 1:15 PM ESTWells Fargo analyst Ike Boruchow lowered the price target on Fossil (NASDAQ: FOSL) to a 'Street Low' $3.00 (from $5.00) while maintaining a Underweight rating.
found FOSLs 4Q print to be very disappointingThe wearables business declined sequentially to -22%, missing plan again and... MoreFossil Group (FOSL) Misses Q4 EPS by 93c, Revenues Miss; Provides Q1 & FY20 Fiscal Outlook
February 26, 2020 7:12 AM ESTFossil Group (NASDAQ: FOSL) reported Q4 EPS of ($0.14), $0.93 worse than the analyst estimate of $0.79. Revenue for the quarter came in at $712 million versus the consensus estimate of $724.65 million.
Fourth Quarter Financial Overview
Worldwide net sales of $712 million decreased 10% on a reported basis and 9% in constant currency.Double-digit growth in Asia and global third party e-commerce marketplaces, partially offsetting declines in the Wholesale channel.Strong performance in the Companys latest generation display product, Gen 5, and new Hybrid HR watch, reflecting positive response to Fossil Groups high performance technology and design... More