Fossil Group Inc (NASDAQ:FOSL) shares are trading lower by 15.3% at $12.31 after the company reported fourth-quarter earnings results.
Fossil reported quarterly earnings of 64 cents per share. This is a marked increase over earnings of 9 cents per share from the same period last year. Fossil also reported $604.20 million in sales this quarter. This is a 14% increase over sales of $528.10 million in the same period last year.
As part of the earnings release Kosta Kartsotis, Fossil Chairman and CEO stated: "With a leaner cost structure and a more robust data-driven digital platform, we entered 2022 well-positioned to capitalize on improving brand strength and consumer demand. While we recognize that current geopolitical circumstances may impact consumer sentiment, we remain confident that executing our core operating and growth strategies will enable us to deliver sustainable, profitable growth and value creation for our shareholders over the long-term."
See Also: Morgan Stanley Now Owns More Shares In World's Largest Bitcoin Fund Than Cathie Wood's Ark
Fossil has a 52-week high of $20.00 and a 52-week low of $8.85.
