Fossil Non-GAAP EPS of -$0.33, revenue of $371M

Aug. 10, 2022 4:24 PM ETFossil Group, Inc. (FOSL)By: Manshi Mamtora, CFA2 Comments
  • Fossil press release (NASDAQ:FOSL): Q2 Non-GAAP EPS of -$0.33.
  • Revenue of $371M.
  • Shares -8.8%.
  • For fiscal year 2022, the Company now expects worldwide net sales declines of approximately 8% to 4% versus prior guidance of net sales growth of flat to 3%.   This updated guidance includes an estimated foreign currency negative impact of 450 basis points, which compares to our prior estimate of 350 basis points for the full year.  

    The Company is reducing adjusted operating margin(1) guidance for the full year and now expects adjusted operating margin of 2% to 4% compared to prior guidance of 5.5% to 6.5%.

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