Fri, Jul. 15, 12:00 PM
Mon, Jun. 20, 12:00 PM
Wed, Jun. 15, 12:00 PM
Thu, Jun. 2, 7:29 AM
- Fossil Group (NASDAQ:FOSL) announced that Eric Anderson has joined its leadership team as Executive Vice President of Portfolio Brands. He will assume oversight and responsibility for Fossil Group’s portfolio of licensed brands which includes Michael Kors, kate spade new york, Armani, Diesel, Tory Burch, Marc Jacobs and others.
- Eric brings over 25 years of brand management experience to Fossil Group, including 18 years in positions of increasing responsibility at Luxottica Group, where he most recently served as President and General Manager of LensCrafters North America.
- Kosta Kartsotis, Chief Executive Officer, commented on the addition. “We are very excited to add Eric to our leadership team and look forward to leveraging his experience managing a portfolio of diverse brands to drive Fossil Group's growth. Specifically, his experience with retail, developing omni-channel strategies and his ability to implement digital initiatives that enhance customer engagement align perfectly with our strategic objectives. We are very glad Eric joined us at Fossil Group and anticipate his contributions will strengthen our leadership position in our core business while also delivering long-term growth.”
- Source: Press Release
Fri, May 13, 9:19 AM
- Fossil (NASDAQ:FOSL) is downgraded to junk status by Standard & Poor’s, which cites the steep decline in earnings over the past five quarters in cutting the retailer's credit rating to BB+ from BBB-.
- S&P says its move also reflects weak operating trends that likely will continue through the most of 2016 because of the difficult retail environment, intensified competitive pressures from wearable technology devices and slowing economic growth in its key markets.
- S&P says FOSL has a stable outlook and expects financials to improve after it debuts its own wearables at the end of the year, although profits could be volatile going forward.
- Now read Fossil crushed after sales and margins shrink
Wed, May 11, 12:49 PM
Wed, May 11, 10:04 AM
- A devastating F/X-ravaged report turned in by Fossil (FOSL -31.3%) and a general sense that U.S. consumer spending on apparel is weak (L Brands, Gap, Macy's) is taking a toll on some high-end retailers.
- Michael Kors (KORS -10.8%), Movado (MOV -7.6%), G-III Apparel (GIII -9.9%), Kate Spade (KATE -2.9%), PVH (PVH -5.6%), Ralph Lauren (RL -5.8%), Coach (COH -3.8%), and Luxottica (LUX -1.9%) are all spinning lower with anxiety over sales trends rising.
- Previously: Fossil crushed after sales and margins shrink (May 10)
- Previously: Specialty retail not looking so special to investors (May 11)
Wed, May 11, 9:12 AM
Tue, May 10, 5:37 PM
Tue, May 10, 4:23 PM
- Shares of Fossil (NASDAQ:FOSL) plummet after the company misses on Q1 earnings.
- Sales were down 7% even on a constant currency basis during the quarter.
- Revenue from watches was down 8% and the jewelry category saw a decline of 11%.
- Comparable sales were up in Europe, but not enough to offset considerable weakness in Asia and the Americas.
- Operating margin dropped sharply to 2.2% vs. 7.7% a year ago.
- Previously: Fossil misses by $0.03, misses on revenue (May 10)
- FOSL -21.87% AH to $31.33.
Tue, May 10, 4:07 PM
Mon, May 9, 5:35 PM
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Mon, Apr. 18, 1:20 PM
- In a look at wearable tech, Pacific Crest sees a second wave meaning troubles for Fitbit (FIT +0.2%) and Garmin (GRMN +0.2%) as some tracking gets commoditized and Apple moves downmarket.
- Value creation is shifting "away from the thing itself," the analysts write, and toward the data layer. Consumers are "largely demanding only modest intelligence from their device beyond data collection." Analyst Brad Erickson maintains Fitbit and Garman at Sector Weight.
- "The market leader, Fitbit, is seeing unit growth decline from 96% last year to the mid-30% range this year and we expect further deceleration going forward," they write.
- The companies have been investing in Europe to drive adoption, but it's still a U.S.-centric market. "We’re not ruling out that Fitbit (or Garmin, or even Apple) couldn’t actively participate if and as this market turns into over 200 million devices per year -— we’re simply saying that they will have to do so at significantly lower price points that where Garmin and Fitbit currently operate in order to preserve profitability."
- Meanwhile, analyst Ed Yruma thinks Fossil (FOSL +0.5%; Sector Weight) is in good position after seeing its newest smartwatches at Baselworld -- particularly Fossil's use of technology from acquiring the Misift business. "We are tilting more positive with FOSL and recommend that investors close out short positions ... Moreover, we continue to see significant value within the owned Skagen and Fossil lifestyle brand businesses, which provide support to the stock."
- Now read Can Apple Watch Compete Against Fitbit's Blaze? »
Wed, Mar. 16, 9:22 AM
- Shares of Fossil (NASDAQ:FOSL) are turning lower after Macquarie downgrades the apparel stock to Underperform.
- The investment firm sets a price target of $34.
- Fossil has bet heavy on making a splash in the wearables market, an investment that some analysts question.
- Previously: Fossil hits higher gear in wearables market (Mar. 15 2016)
- FOSL -3.95% premarket to $45.00.
Tue, Mar. 15, 7:13 AM
- Fossil (NASDAQ:FOSL) announces it will launch wearable products for eight different brands across 40 different nations this year
- Both digital display watches and non-display watches from Fossil will be part of the branded products which will also be supported by apps.
- The company is displaying its new innovations this week at the annual Baselworld gathering in Switzerland.
Wed, Feb. 17, 12:45 PM
Fossil Group, Inc. designs, markets and distributes consumer fashion accessories. Its products include men's and women's fashion watches, jewelry, handbags, small leather goods, belts, sunglasses, shoes, soft accessories and clothing which are sold through department stores, specialty retail... More
Sector: Consumer Goods
Industry: Recreational Goods, Other
Country: United States
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