trending Market Intelligence /marketintelligence/en/news-insights/trending/oVR3ZcR4I006USIjr3_htg2 content esgSubNav
In This List

Fossil Group swings to loss in fiscal Q1

Blog

Banking Essentials Newsletter: June 12th Edition

Blog

S&P 500 Q4 2023 Sector Earnings & Revenue Data

Podcast

Next in Tech | Episode 171: Concerns About Fraud Drive AI Investment

Podcast

Street Talk | Episode 127: The 'knife fight' for deposits could spur more bank deals


Fossil Group swings to loss in fiscal Q1

Fossil Group Inc. said its normalized net income for the fiscal first quarter ended April 1 was a loss of 30 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 26 cents per share.

The per-share result swung to a loss from the prior-year profit of 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $14.6 million, compared with income of $5.1 million in the year-earlier period.

The normalized profit margin declined to negative 2.5% from 0.8% in the year-earlier period.

Total revenue decreased 11.8% on an annual basis to $581.8 million from $659.8 million, and total operating expenses fell 7.0% year over year to $600.2 million from $645.4 million.

Reported net income totaled a loss of $48.3 million, or a loss of $1 per share, compared to income of $5.8 million, or 12 cents per share, in the year-earlier period.