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.
RICHARDSON, TX, United States — Fossil Group Inc. on Tuesday reported fourth-quarter earnings of $49.7 million.
The Richardson, Texas-based company said it had net income of $1.03 per share. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.36 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The watch and accessories maker posted revenue of $959.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $971.7 million.
ADVERTISEMENT
For the year, the company reported profit of $78.9 million, or $1.63 per share. Revenue was reported as $3.04 billion.
For the current quarter ending in April, Fossil Group expects its results to range from a loss of 25 cents per share to a loss of 10 cents per share.
The company expects full-year earnings in the range of $1 to $1.70 per share.
Fossil Group shares have fallen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 4 percent. In the final minutes of trading on Tuesday, shares hit $22.87, a drop of 34 percent in the last 12 months.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.