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Apr 01, 2023
Fossil Q1 2023 Earnings Report
Reported a decrease in worldwide net sales, but experienced growth in direct-to-consumer channels and extended licensing agreements.
Key Takeaways
Fossil Group's first quarter 2023 saw a decrease in net sales by 14% to $325 million, driven by declines in all regions and wholesale channels. However, direct-to-consumer net sales increased by 8% in constant currency, with comparable retail sales growth of 13%. The company also extended its licensing agreements with Diesel and Armani.
Worldwide net sales decreased by 14% to $325 million, with declines in all three regions.
Direct-to-consumer net sales increased by 8% in constant currency, with comparable retail sales growth of 13%.
Operating loss was $37 million, compared to $14 million in the previous year.
The company extended its licensing agreements with Diesel and Armani.
Revenue by Geographic Location
Forward Guidance
For the full year 2023, the Company expects worldwide net sales to decline approximately 5% to net sales growth of 1% and full year adjusted operating income margin in the range of approximately 0% to 3%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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