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Active-Investors: Free Research Report as Fossil Group Surpassed Analysts' Expectations for Revenue and EPS in Q4 FY17

Stock Monitor: Tandy Leather Factory Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors.com has just released a free earnings report on Fossil Group, Inc. (NASDAQ: FOSL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=FOSL. Fossil reported financial results on February 13, 2018, for the full year and fourth quarter ended December 30, 2017. During 2017, Fossil reported a decline in sales and earnings but embarked on a set of strategic initiatives to position the Company for long-term profitable growth. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Tandy Leather Factory, Inc. (NASDAQ: TLF), which also belongs to the Consumer Goods sector as the Company Fossil Group. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/'symbol=TLF

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fossil Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=FOSL

Earnings Highlights and Summary

Fossil's total revenues for the fourth quarter of 2017 (Q4 FY17) reached $920.8 million, a decrease of 4% from $959.2 million in Q4 FY16. Sales in all product categories - watches, leathers, and jewelry declined in the quarter under review. Watches accounted for 79.05% (or $727.9 million) of the total sales in Q4 FY17 while leathers accounted for 11.69% (or $107.6 million) and jewelry for 7.8% (or $71.8 million). Total revenue number exceeded analysts' consensus estimates of $890.5 million.

During Q4 FY17, Fossil's cost of sales was $472.7 million, an increase of 0.55% from $470.10 million in Q4 FY16. The Company's gross profit shrank 8.38% to $448.10 million in Q4 FY17 from $489.10 million in Q4 FY16. The Company's gross margin declined to 48.67% in the reported quarter from 50.99% in the year ago same quarter.

For Q4 FY17, Fossil's operating expenses fell 6.17% to $396.8 million in Q4 FY17 from $422.90 million in Q4 FY16 due to cost reductions from store closure. The Company generated an operating income of $51.30 million in Q4 FY17 compared to $66.2 million in Q4 FY16, reflecting a decrease of 22.51%. Fossil's operating margin declined 1.33% to 5.57% in the quarter under review from 6.9% in the previous year's corresponding quarter.

Net loss attributable to Fossil was $79.9 million for the quarter ending December 30, 2017, compared to net income attributable to Fossil of $49.7 million in the same period in 2016. The Company had a diluted net loss per share of $1.65 in Q4 FY17 compared to diluted earnings per share of $1.03 in Q4 FY16. Fossil's reported Q4 FY17 earnings included tax and valuation allowance of $2.2 per share and restructuring charges of $0.09 per share. The Company's diluted EPS, after adjusting for non-recurring items, was $0.64 in Q4 FY17 compared to $1.21 in Q4 FY16, reflecting a decrease of 47.11%. This was higher than analysts' consensus estimates of $0.39 per share.

For the year ending December 31, 2017, Fossil's total revenues were $2.79 billion, a decrease of 8.36% from $3.04 billion in FY16. The Company's gross profit decreased 13.9% to $1.36 billion on a y-o-y basis. Fossil incurred an operating loss of $424.2 million in the reported year compared to an operating profit of $127.2 million in the previous year. Net loss attributable to Fossil was $478.2 million for FY17 compared to net income attributable to the Company of $78.9 million in FY16. The Company had a diluted net loss per share of $9.87 in FY17 compared to net earnings per share of $1.63 in FY16. Diluted EPS for full year 2017, excluding special items was $0.05, a decline of 97.5% from $2.0 in FY16.

Fossil Group's Segment Details

During Q4 2017, the Americas segment generated net revenues of $441.7 million, 8.49% lower than $482.7 million in Q4 FY16 due to lower sales in the US market. This segment had 108 accessory stores and 136 outlets at the end of Q4 FY17.

For Q4 FY17, the Europe segment reported net revenues of $336.6 million, an increase of 1.08% from $333 million in Q4 FY16. This segment had 106 accessory stores, 74 outlets, and 8 full priced multi-brand stores as on December 30, 2017.

During Q4 FY17, the Asia segment's net revenues fell 0.7% to $142.5 from $143.5 million in Q4 FY16. In Asia, sales increases in China and India were more than offset by declines in most other countries with the greatest decrease in Japan. This segment had 59 accessory stores, 46 outlets, and 7 full priced multi-brand stores as on December 30, 2017.

Cash Matters

On December 30, 2017, Fossil had cash and cash equivalents of $231.2 million, 22.23% lower than $297.3 million as on December 31, 2016. For the year ended December 30, 2017, the Company's long-term debt declined 27.23% to $443.9 million from $610 million as on December 31, 2016.

Outlook

For full year 2018, Fossil expects a decline of 6% to 14% in net sales. The Company expects its FY18 gross margin to be in the range of 51% to 53%. Fossil expects operating margin to be between 0-4% and income before income taxes to be between negative $60 million and positive $40 million in FY18.

For the first quarter of 2018 (Q1 FY18), Fossil expects a decline of 6% to 12% in net sales. The Company expects gross margin to be in the range of 50% to 52% in Q1 FY18. The Company expects operating loss margin to be between 11% and 6% and loss before income taxes to be between $70 million and $45 million in Q1 FY18.

Stock Performance Snapshot

March 20, 2018 - At Tuesday's closing bell, Fossil's stock was slightly up 0.83%, ending the trading session at $12.18.

Volume traded for the day: 1.46 million shares.

Stock performance in the last three-month - up 77.55%; previous six-month period - up 35.03%; and year-to-date - up 56.76%

After yesterday's close, Fossil's market cap was at $575.75 million.

The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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SOURCE: Active-Investors

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