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Jul 03, 2021
Fossil Q2 2021 Earnings Report
Reported strong second-quarter performance with solid operational execution across all channels and regions.
Key Takeaways
Fossil Group reported a strong second quarter with net sales increasing by 59% to $410.9 million. The company's operating income improved significantly to $14.3 million, compared to an operating loss of $36.8 million in the same quarter last year. Based on the strong year-to-date performance, Fossil Group is raising its 2021 outlook.
Worldwide net sales increased 59%, or 51% on a constant currency basis.
Net sales through all digital channels grew 10% and 82%, on a constant currency basis, compared to the second quarter of fiscal 2020 and 2019, respectively, and represented 41% of worldwide net sales.
Operating income of $14 million compared to an operating loss of $37 million a year ago.
Total liquidity of $294 million, consisting of cash and cash equivalents of $252 million and $42 million of borrowing availability.
Fossil
Fossil
Fossil Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
For fiscal year 2021, the Company is raising its outlook for worldwide net sales growth to approximately 14% to 17% and full year Adjusted EBITDA margin guidance to 6% to 8%. For the 13-week quarter ending October 2, 2021, worldwide net sales are expected to increase in the range of 5% to 10% compared to the 13-week quarter ended October 3, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income