Fossil shares fall after posting bigger loss

Fossil

10/08/2022 22:32

**  Shares of watch maker Fossil Group Inc  FOSL.O  down 9%
at $5.98 in the extended trade after co reports quarterly
results 
    ** Co reports a bigger Q2 net loss of 37 cents per share,
compared with 2 cents a year earlier; Revenue fell 9.6% to
$371.2 mln for the quarter
    ** Currencies unfavorably affected loss per share by about
$0.04, co says 
    ** "We saw softening consumer demand during the quarter,
reflecting ongoing inflationary pressure and continued
pandemic-related restrictions in China" - CEO Kosta Kartsotis
    ** Up to Wednesday's close, stock had fallen about 36% YTD

 (Reporting by Aishwarya Nair in Bengaluru)