The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
TEXAS, United States — Fossil Group Inc. on Tuesday reported third-quarter earnings of $103.7 million.
The Richardson, Texas-based company said it had profit of $1.96 per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.
The watch and accessories maker posted revenue of $894.5 million in the period, also surpassing Street forecasts. Analysts expected $878.5 million, according to Zacks.
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Fossil Group expects full-year earnings to be $7 to $7.30 per share.
Fossil Group shares have dropped 14 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 10 percent. In the final minutes of trading on Tuesday, shares hit $103.55, a drop of 19 percent in the last 12 months.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.