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Dec 31, 2022
Fossil Q4 2022 Earnings Report
Announced financial results with a decrease in worldwide net sales and operating income.
Key Takeaways
Fossil Group, Inc. reported a decrease in fourth-quarter worldwide net sales to $499 million, a 17% decrease on a reported basis. The company's operating income also decreased to $1.3 million, compared to $47.2 million in the same quarter of the previous year. The company is implementing a Transform and Grow Plan to improve financial performance.
Worldwide net sales decreased 17% to $499 million.
Wholesale sales declined 24%, offset by 8% growth in direct to consumer channels.
Operating income decreased to $1.3 million from $47.2 million.
Net loss totaled $9.4 million, with a loss per diluted share of $0.18.
Revenue by Geographic Location
Forward Guidance
The company expects worldwide net sales to decline approximately 5% to net sales growth of 1%. The Company also expects 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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