Fossil Group Lowers 2016 Guidance - Quick Facts

(RTTNews) - Fossil Group, Inc. (FOSL) announced, for fiscal 2016, the company now expects: net sales to decrease in the range of 5.0% to 1.5%; and earnings per share in a range of $1.80 to $2.80. In February, the company projected: net sales to be in the range of a 3.5% decrease to a 1.0% increase; and earnings per share in a range of $2.80 to $3.60.

Analysts polled by Thomson Reuters expect the company to report profit per share of $3.02. Analysts' estimates typically exclude special items.

For the second quarter of fiscal 2016, the company expects: net sales to decrease in the range of 10.0% to 8.0%; and earnings per share in a range of $0.00 to $0.15. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.59.

Shares of Fossil Group, Inc. were down more than 29% after hours.