Fossil Group Q3 Loss Widens

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(RTTNews) - Fossil Group, Inc. (FOSL) Thursday reported a third-quarter net loss of $39.9 million or $0.76 per share, compared to a net loss of $32.0 million or $0.60 per share in the prior year third quarter.

Adjusted net loss for the third quarter was $32.8 million or $0.63 per share, compared to adjusted net loss of $30.0 million or $0.56 per share in the prior year third quarter.

Net sales for the quarter totaled $270.2 million, a decrease of 6.1% on a reported basis and 7.1% in constant currency compared to $287.8 million in the third quarter of fiscal 2024. The sales decrease was largely driven by the direct-to-consumer channels, with our store rationalization initiatives comprising approximately 3 points of the sales decline in the third quarter.

Looking forward, the company reiterated its financial guidance for the full year 2025 of worldwide sales to decline in the mid-teens and adjusted operating margin to be break-even to slightly positive.