Fossil shares crumble on weak 2022 sales outlook

Fossil

10/03/2022 18:09

** Shares of watch maker Fossil Group  FOSL.O  slump as much
as ~38% to an over two-month low of $9.03 
    ** Stock on track for biggest one-day pct. decline since
January 2021
    ** FOSL after market hours on Wednesday forecast FY 2022 net
sales to rise 2% to 6%, compared to the 16% jump in
2021 urn:newsml:reuters.com:*:nGNX8KRJvZ
    ** Co also reported an 11% decline in Q4 sales in Asia on a
constant currency basis, but strong growth in the Americas and
Europe helped push net sales 14% higher
    ** With session's losses, FOSL shares down ~11% this year
following a ~20% gain in 2021

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))