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Fossil Plummets Following Weak Q4 Report

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Fossil Plummets Following Weak Q4 Report
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Shares of watchmaker Fossil Group Inc (NASDAQ: FOSL) were halted after hours Tuesday, in order to issue a weak fourth quarter earnings report.

Fossil Group has already suffered a 12 percent drop in 2017.

  • Fossil Group reported Q4 Adj. EPS of $1.03, missing by $0.14
  • Sales came in at $959 million, missing by $18 million
  • The company sees Q1 Adj. EPS in the $(0.25)-$(0.10) range against analysts estimates of $0.07
  • Fossil is guiding FY17 Adj. EPS in the $1-$1.70 vs. $1.75 estimate

Shares are scheduled to resume trading at 4:30 p.m. ET. The stock closed at $22.87.

Update: The stock fell more than 12 percent after resuming trade, trading recently at $19.94.

Posted-In: Earnings News Guidance After-Hours Center Best of Benzinga

 

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