Fossil Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:18 pm EST
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Fossil Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 344.1 million compared to USD 436.3 million a year ago. Net loss was USD 61.1 million compared to net income of USD 5.8 million a year ago. Basic loss per share from continuing operations was USD 1.16 compared to basic earnings per share from continuing operations of USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 1.16 compared to diluted earnings per share from continuing operations of USD 0.11 a year ago.
For the nine months, sales was USD 991.1 million compared to USD 1,183.3 million a year ago. Net loss was USD 128.9 million compared to USD 34.7 million a year ago. Basic loss per share from continuing operations was USD 2.47 compared to USD 0.67 a year ago. Diluted loss per share from continuing operations was USD 2.47 compared to USD 0.67 a year ago.
Fossil Group, Inc. is a design, marketing and distribution company that specializes in consumer fashion accessories. The Companyâs principal offerings include a line of men's and women's fashion traditional watches, smartwatches, jewelry, handbags, small leather goods, belts and sunglasses. Its segments include Americas, Europe and Asia. The Americas is comprised of sales from its operations in the United States, Canada and Latin America. Europe segment is comprised of sales to customers based in European countries, the Middle East and Africa. Asia segment is comprised of sales to customers based in Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand. The Company's owned brands include FOSSIL, SKAGEN, MICHELE, RELIC and ZODIAC and licensed brands ARMANI EXCHANGE, DIESEL, DKNY, EMPORIO ARMANI, KATE SPADE NEW YORK, MICHAEL KORS, and TORY BURCH. Its products are distributed through wholesale, retail stores, commercial Website, and others.
FOSSIL GROUP, INC. 
