Fossil Group Reports Increased Losses in Q3
Third-Quarter Financial Performance: Fossil Group, Inc. reported a net loss of $39.9 million for the third quarter, an increase from a $32.0 million loss in the same period last year. Adjusted net loss was $32.8 million, compared to $30.0 million in the prior year.
Sales Decline: The company's net sales for the quarter were $270.2 million, reflecting a 6.1% decrease compared to the previous year, primarily due to challenges in direct-to-consumer channels and store rationalization efforts.
Future Financial Guidance: Fossil Group reiterated its guidance for fiscal year 2025, expecting worldwide sales to decline in the mid-teens and aiming for an adjusted operating margin that is break-even to slightly positive.
Author's Perspective: The views expressed in the report are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
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