Wed, Feb. 17, 9:14 AM
Tue, Feb. 16, 4:25 PM
- Fossil (NASDAQ:FOSL) reports sales fell 2% in Q4 on a constant currency basis.
- Sales growth by region (constant currency): America -3%, Europe +3%, Asia -9%.
- Sales growth by product (constant currency): Watches -2%, Leathers +4%, Jewelry flat.
- Fossil's operating margin fell to 9.0% during the quarter as F/X, markdown activity, and promotions all cut in.
- Previously: Fossil beats by $0.16, beats on revenue (Feb. 16)
- FOSL +15.4% AH to $39.75.
Tue, Feb. 16, 4:12 PM
Mon, Feb. 15, 5:35 PM
Tue, Feb. 2, 10:21 AM
- Strength shown by Michael Kors (KORS +16.1%) in digital channels, Japan, and across much of Europe isn't going unnoticed in the apparel sector.
- G-III Apparel (GIII 1.4%), PVH Corp (PVH +3.2%), Vera Bradley (VRA +5%), Fossil (FOSL +1.8%), Lululemon (LULU +2.5%), Kate Spade (KATE +1.1%), and Movado (MOV +0.5%) are all higher on a day broad market averages are wilting.
- Previously: Michael Kors Holdings beats by $0.13, beats on revenue (Feb. 2)
- Previously: Michael Kors soars after earnings shine (Feb. 2)
Thu, Jan. 14, 9:05 AM| Thu, Jan. 14, 9:05 AM | 2 Comments
Mon, Jan. 4, 11:45 AM| Mon, Jan. 4, 11:45 AM
Fri, Jan. 1, 4:53 AM
- Dow: NKE +29%; HD +27%; MCD +25%; GE +21%; V +16%.
- S&P 500: NFLX +135%; AMZN +119%; ATVI +90%; NVDA +61%; CVC +54%.
- Nasdaq: NFLX +135%; AMZN +119%; CTRP +104%; ATVI +90%; NVDA +61%.
- Dow: WMT -29%; CAT -28%; AXP -26%; CVX -21%; UTX -18%.
- S&P 500: CHK -77%; CNX -77%; SWN -75%; FCX -71%; FOSL -67%.
- Nasdaq: MU -59%; WDC -47%; STX -47%; VIAB -46%; BBBY -37%.
Dec. 30, 2015, 10:48 AM
- Fossil (FOSL +0.8%) completed its acquisition of wearable technology brand Misfit.
- The Misfit app platform covers fitness, sleep monitors, and connected home features. The brand is expected to be a new selling channel for Fossil.
- Shares of Fossil are higher on the day, counter to the broad market decline.
Dec. 28, 2015, 5:29 PM
- Willis Group (NYSE:WSH) will replace Fossil (NASDAQ:FOSL) in the S&P 500 following the Jan. 4 close. Fossil will replace Towers Watson (TW - set to merge with Willis) in the S&P MidCap 400.
- Willis has risen to $48.70 after hours. Fossil, whose shares have cratered this year, hasn't yet moved after hours.
Dec. 18, 2015, 2:39 PM
Nov. 20, 2015, 11:47 AM
- The S&P Retail ETF (NYSEARCA:XRT) is up 1.9% with apparel and footwear stocks doing much of the heavy lifting.
- A vibrant rally in sports stocks was sparked by earnings reports and Nike. Iconix Brand (ICON +2.5%), G-III Apparel (GIII +3%), DSW (DSW +3.7%), Finish Line (FINL +3.1%), Caleres (CAL +2.2%), Genesco (GCO +3.5%), and Shoe Carnival (SCVL +1.7%) join the list reported on earlier.
- Luxury names are on the move with Kate Spade (KATE +2%), Fossil (FOSL +2.9%), Coach (COH +1.4%), and Movado (MOV +2.7%) higher.
- The beat-up mall retailer group is also recovering after results from Gap (GPS +6%) and Abercrombie & Fitch (ANF +19.4%) topped worst-case scenarios. American Eagle Outfitters (AEO +2.3%), Guess (GES +4.6%), and Pacific Sunwear (PSUN +5.4%) are notable gainers.
- Big box retailers are the laggards today. Wal-Mart, Target (TGT +0.6%), and Costco (COST +0.6%) are right at market index averages.
Nov. 13, 2015, 2:32 PM
- Fossil (FOSL -34.6%) shares lose a third of their value after the company’s mixed Q3 results and reduction in its earnings and revenue estimates for Q4 and FY 2016, noting "general weakness" in its watch business.
- Investors are not appeased by the $260M acquisition of Misfit Inc., which will provide FOSL with fitness and sleep-tracking wrist devices, but the products will take a while to have an impact on results.
- FOSL already had introduced its version of a smartwatch to attempt to combat pressure from wearable tech competitors, but the deal with Misfit may signal that the Android-run Fossil Q may not be working out as the company had hoped.
- Several analysts sharply lower their price targets on the shares: Cowen cuts its target to $42 from $51, BofA Merrill slashes its target to $33 from $51, and Piper Jaffray slices its price to $25 from $46.
Nov. 13, 2015, 12:48 PM
Nov. 13, 2015, 9:36 AM
- Along with its Q3 results, watch/handbag maker Fossil (FOSL -29%) is buying fashion-oriented activity tracker maker Misfit for $260M. Fitbit (NYSE:FIT) has fallen below $30 in response.
- Fossil, which did 2014 sales of $3.5B, plans to "scale Misfit's technology across Fossil, Skagen and a targeted portion of its portfolio of 16 brands in 2016," and declares the purchase will "expand its addressable market with new distribution channels, new products, new brands and new enterprise partnerships, including music, fitness, healthcare and digital entities."
- Misfit CEO Sonny Vu will become the president and CTO of Fossil's connected devices unit. Fossil will finance the purchase using both cash and debt. (Misfit's products)
- Fossil/Misfit faces competition not only from Fitbit, but also Nike (FuelBand), Apple (Watch), Samsung (Gear), Jawbone, Xiaomi, and others. IDC estimates Fitbit had 24.3% of the Q2 wearables market, Apple 19.9%, Xiaomi 17.1%, and no one else more than 4%. Industry shipments rose an estimated 223% Y/Y to 18.1M.
- Fossil has nosedived in response to its Q3 sales miss and soft Q4 guidance. Oppenheimer has downgraded to Market Perform.
- Update: Fitbit has also downsized its planned secondary offering to 17M shares, and priced it at $29.
Nov. 13, 2015, 9:14 AM
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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