Fossil returns to profit and sales growth in its fiscal third quarter
Fossil Group reported fiscal third-quarter results that the company says show early signs of a turnaround. It posted operating income of $25.3 million versus an operating loss of $21.7 million a year earlier, and net income of $11.7 million, or 19 cents per share, compared with a net loss of $39.9 million. Net sales rose 0.4% to $271.2 million and operating expenses fell 11.1% to $137 million. The company raised its full-year sales outlook to between $980 million and $990 million.
In 40 seconds
- Operating income of $25.3 million, versus an operating loss of $21.7 million a year earlier
- Net income of $11.7 million, or 19 cents per share, after a $39.9 million loss a year earlier
- Net sales of $271.2 million, up 0.4%, and operating expenses down 11.1%
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IASummary generated by artificial intelligence from a story by CNBC. It may contain errors: the original source prevails.
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