Stock Monitor: Caleres Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 14, 2018 /

If you want access to our free earnings report on Fossil Group, Inc. (NASDAQ: FOSL) ("Fossil"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FOSL. The Company reported its first quarter fiscal 2018 operating and financial results on May 08, 2018. The watch and accessories maker provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Caleres, Inc. (NYSE: CAL), which also belongs to the Consumer Goods sector as the Company Fossil Group. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fossil Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=FOSL

Earnings Highlights and Summary

For the first quarter of the fiscal year 2018, Fossil's worldwide net sales decreased 2% to $569.2 million compared to $581.8 million in Q1 2017. The Company's revenue numbers exceeded analysts' estimates of $539.4 million.

During Q1 2018, Fossil's Watches sales declined in the Americas and Europe, but increased in Asia, with a growth in connected watches and declines in traditional watches in all geographies on a constant currency basis. On geographical basis, in the reported quarter, sales declines in the US drove the decrease in the Americas. In Europe, on a constant currency basis, sales across the Eurozone and in distributor markets in Eastern Europe and the Middle-East declined moderately, with the largest declines in the United Kingdom and France. In Asia, sales increases in India, China, and Malaysia were partially offset by declines in Japan and the distributor markets.

Fossil's global retail comparable sales fell 5% on a y-o-y basis in Q1 2018, with positive comparable sales in the watch and leather categories, partially offset by negative comparable sales in jewelry. Positive comparable sales in the Americas and Asia were partially offset by a decline in Europe.

During Q1 2018, Fossil's gross margin increased 70 basis points (bps) to 50.5%. The Company's gross margin was favorably impacted by approximately 150 bps in the reported quarter, due to currency movements, primarily the stronger Euro and British pound, as well as benefits generated by the Company's New World Fossil (NWF) margin improvement initiatives. These increases were partially offset by unfavorable factory absorption on lower sales volumes, and increased sales mix of connected products.

For Q1 2018, Fossil's operating loss narrowed to $28.3 million compared to an operating loss of $45.3 million in Q1 2017; driven by reduced operating expenses, partially offset by lower sales and gross margin.

Fossil reported a net loss of $48.3 million, or $0.99 loss per diluted share, in Q1 2018 compared to a net loss of $48.2 million, or $1.00 per diluted share, in Q1 2017. Currencies, including both the translation impact on operating earnings and the impact of foreign currency hedging contracts, favorably affected the y-o-y earnings per share (EPS) comparison by $0.02. Fossil's reported numbers were better than market estimates for a loss of $1.05 per share.

Outlook

For the full fiscal year 2018, Fossil is forecasting net sales to be in the range of negative 12% to negative 5%. The Company is expecting gross margin to be in the band of 51% to 53%, and operating margin to be in the range of 0.5% to 4.5%. Fossil is estimating income/loss before income taxes to be in the range of negative $40 million to positive $50 million for FY18.

For the second quarter of the fiscal year 2018, Fossil is projecting net sales to be in the band of negative 11% to negative 4%. The Company is expecting gross margin to be in the range of 51.5% to 53.5%, and operating margin to be in the band of negative 6.5% to negative 2.0%. Fossil is anticipating income/loss before income taxes to be in the range of negative $50 million to negative $30 million for Q2 2018.

Stock Performance Snapshot

June 13, 2018 - At Wednesday's closing bell, Fossil Group's stock declined 1.82%, ending the trading session at $28.54.

Volume traded for the day: 1.51 million shares.

Stock performance in the last month ? up 53.11%; previous three-month period ? up 141.86%; past twelve-month period ? up 183.42%; and year-to-date ? up 267.31%

After yesterday's close, Fossil Group's market cap was at $1.38 billion.

The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry.

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