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Fossil -13% on disappointing Q3 sales, gloomy outlook

Nov. 12, 2015 4:47 PM ETFossil Group, Inc. (FOSL) StockBy: Carl Surran, SA News Editor
  • Fossil (NASDAQ:FOSL) -12.8% AH after reporting weaker than expected Q3 revenues and issuing downside guidance for the rest of the year.
  • FOSL says it now sees Q4 EPS of $1.05-$1.65, well below the $2.14 analyst consensus estimate, and expects Q4 revenues to decrease by 7%-16% with operating margins in the range of 8.5%-11.5%.
  • For the full year, FOSL cuts its EPS outlook to $4.15-$4.75 and expects a 8%-10.5% decline in net sales, from its previous estimate for EPS of $4.80-$5.60 and a 4%-8% net sales decrease.
  • In Q3, FOSL says its watch sales fell 17%, or 11% excluding currency fluctuations, and global sales at stores open more than a year fell 1% Y/Y.
  • FOSL also says it agrees to acquire startup Misfit, a maker of wearable fitness trackers, for $260M, in a move the company hopes will help reinvigorate its product offerings.

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