Fossil's (FOSL) Q2 Loss Widens Y/Y on Sales Decline, Margin Up

Fossil Group, Inc. (FOSL) incurred a net loss per share of 73 cents for the second quarter of 2024, wider than the net loss of 51 cents in the same period last year. This widening loss was primarily driven by a decline in sales and substantial restructuring costs. Net sales for the quarter stood at $260 million, reflecting a 19.3% year-over-year decrease from $322 million in the second quarter of 2023. The sharp decline in revenues was due to reduced sales across key categories and geographies, exacerbated ...