Contest Trader

Don't miss the chance to cash-in prizes totaling

$10.000
Register here for the Ultimate demo trading competition

Fossil had a rough Q2

Fossil had a rough Q2

Sales dried up in Q2

The American watches and leather goods designer and manufacturer, Fossil Group, joined the club of fashion companies affected by the pandemic during the second quarter.

The company’s sales dropped to $259 million from $501.4 million reported in the same quarter last year. Due to store closures, the Texas-based Fossil reported a loss of $22.5 million, or $0.44 per share. Last year it lost $7.3 million, or 15 cents/share.

During the past quarter, the only increase the company had was in the e-commerce division. Online sales grew by 20%.

For Q3, Fossil expects the net sales to drop as much as 45%, but online sales are seen as the solution to keep the company afloat. For 2020, the company thinks it will generate $100 million in cost savings.

Although after the report Fossil stock price lost 3.53%, during today's pre-market session, it gained almost 10%.


Sources: marketwatch.com, finance.yahoo.com


Maklumat yang disediakan oleh za.capex.com bukan berbentuk tawaran atau permintaan untuk tujuan pembelian atau penjualan apa-apa produk kewangan yang disebutkan di sini atau melibatkan perundngan, atau nasihat mahupun cadangan berkenaan dengan kewangan produk tersebut.

Maklumat ini disediakan untuk edaran umum. Ia tidak mengambil kira objektif pelaburan tertentu, keadaan kewangan atau keperluan tertentu dari mana-mana penerima.

Anda harus bebas menilai setiap produk kewangan dan mempertimbangkan kesesuaian produk kewangan sedemikian, dengan mengambil kira objektif pelaburan tertentu anda, keadaan kewangan atau keperluan khusus, dan berunding dengan penasihat kewangan bebas, sebelum berurusan dalam produk kewangan yang disebutkan dalam dokumen ini.

Maklumat ini tidak boleh diterbitkan, diedar semula, diterbitkan semula atau diedarkan secara keseluruhan atau sebahagian kepada mana-mana individu lain tanpa kebenaran bertulis daripada Syarikat terlebih dahulu.

Prestasi lalu tidak sentiasa menggambarkan prestasi atau kemungkinan masa depan. Sebarang pandangan atau pendapat yang dikemukakan hanyalah pandangan penulis semata-mata dan tidak mewakili za.capex.com