NASDAQ$FOSL
Fossil Group Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Fossil Group's Q2 2023 financial performance was announced, marked by a decrease in net sales and an expanded Transform and Grow Plan.
Fossil Group reported a 13% decrease in worldwide net sales, totaling $322 million. The company's operating loss was $35 million, compared to $11 million in the same quarter last year. The Transform and Grow Plan was expanded to $300 million in annualized operating income benefits by the end of 2025.
- Worldwide net sales decreased by 13% to $322 million.
- Direct to consumer channels saw a 4% decrease in net sales in constant currency, while wholesale channels decreased by 19%.
- Fossil brand sales decreased by 8% in constant currency, with traditional watch sales growing slightly but offset by declines in smartwatches and leathers.
- Operating loss was $35 million, compared to a loss of $11 million a year ago.
Headline financials
Revenue & EPS history
Fossil · Revenue · Quarterly
$322M
Revenue by segment
Fossil · $225M total across 4 segments · Q1 2026
- Watches$190M—84.7%
- Jewelry$20.1M—9.0%
- Leathers$10.6M—4.7%
- Other$3.52M—1.6%
Forward guidance
The company is updating its guidance for the full year 2023 to reflect results from the second quarter, continued declines in wholesale channels in the Americas and Europe and a more gradual sales recovery in China than previously estimated.
Headwinds
- Worldwide net sales declines of approximately 5% to 10%.
- Adjusted operating margin to be -2% to -4% of net sales.
- Restructuring charges of approximately $35 million for the full year 2023.
- Continued declines in wholesale channels in the Americas and Europe.
- A more gradual sales recovery in China than previously estimated.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+0.8%
Avg return
Earnings day
+4.1%
Avg return
5 days after
+5.9%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+102.3%
Q4 2017
Best reaction
-37.8%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.6% | -6.1% | +6.6% | |
| Q4 2025 | +16.8% | +14.3% | +24.8% | |
| Q3 2025 | -9.2% | -3.3% | +85.7% | |
| Q2 2025 | +31.5% | +74.6% | +72.4% | |
| Q1 2025 | +18.0% | +34.1% | +5.6% | |
| Q4 2024 | +29.1% | +3.1% | -23.6% | |
| Q3 2024 | -10.8% | -6.9% | +51.5% | |
| Q2 2024 | +1.8% | -0.9% | -2.8% | |
| Q1 2024 | -4.7% | +6.2% | +25.8% | |
| Q4 2023 | -5.6% | -1.2% | +4.7% | |
| Q3 2023 | -34.3% | -35.4% | -28.1% | |
| Q2 2023 | -10.4% | -16.3% | -17.9% | |
| Q1 2023 | -9.2% | -32.3% | -27.2% | |
| Q4 2022 | -13.4% | -15.3% | -24.9% | |
| Q3 2022 | +10.3% | +17.7% | +21.6% | |
| Q2 2022 | -4.2% | -12.1% | -40.2% | |
| Q1 2022 | -10.2% | -10.9% | -23.3% | |
| Q4 2021 | -28.3% | -36.3% | -25.3% | |
| Q3 2021 | +16.7% | +13.0% | -28.2% | |
| Q2 2021 | +9.1% | +7.6% | -3.7% | |
| Q1 2021 | +0.7% | +20.8% | +38.6% | |
| Q3 2020 | +18.1% | +42.9% | +111.3% | |
| Q2 2020 | +10.2% | +18.9% | +50.1% | |
| Q1 2020 | +27.1% | +136.2% | +29.2% | |
| Q4 2019 | -19.4% | -19.6% | -36.2% | |
| Q3 2019 | -23.4% | -36.5% | -42.9% | |
| Q2 2019 | +9.1% | -4.4% | +34.6% | |
| Q1 2019 | +17.0% | +9.1% | -10.4% | |
| Q4 2018 | -5.9% | -8.2% | -9.6% | |
| Q3 2018 | -7.7% | -16.9% | -25.7% | |
| Q2 2018 | -18.9% | -18.7% | -19.4% | |
| Q1 2018 | +23.1% | +27.5% | +90.6% | |
| Q4 2017 | +102.3% | +73.1% | +38.4% | |
| Q3 2017 | -18.8% | -5.4% | -3.9% | |
| Q2 2017 | -20.8% | -26.8% | -21.7% | |
| Q1 2017 | -16.9% | -24.4% | -38.5% | |
| Q4 2016 | -15.2% | -9.8% | -27.1% | |
| Q3 2016 | -0.6% | +5.7% | +27.0% | |
| Q2 2016 | -0.6% | +2.9% | -8.4% | |
| Q1 2016 | -27.9% | — | — | |
| Q4 2015 | +32.9% | — | — | |
| Q3 2015 | -37.8% | — | — | |
| Q2 2015 | -6.0% | — | — | |
| Q1 2015 | -5.6% | — | — | |
| Q4 2014 | -15.0% | — | — | |
| Q3 2014 | +9.0% | — | — | |
| Q2 2014 | -6.5% | — | — | |
| Q1 2014 | -10.8% | — | — | |
| Q4 2013 | +5.3% | — | — | |
| Q3 2013 | -1.3% | — | — | |
| Q2 2013 | +12.8% | — | — | |
| Q1 2013 | +10.7% | — | — | |
| Q4 2012 | -2.1% | — | — | |
| Q3 2012 | -10.8% | — | — | |
| Q2 2012 | +25.2% | — | — | |
| Q1 2012 | +4.8% | — | — | |
| Q4 2011 | +3.6% | — | — | |
| Q3 2011 | +1.2% | — | — | |
| Q2 2011 | +9.5% | — | — | |
| Q4 2009 | +6.9% | — | — | |
| Q1 2011 | +3.1% | — | — | |
| Q3 2010 | -1.3% | — | — | |
| Q4 2010 | -1.1% | — | — | |
| Q2 2010 | -1.1% | — | — | |
| Q1 2010 | -4.6% | — | — |
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