Traditional Watch Business To Hurt Fossil's (FOSL) Q1 Earnings
Zacks Investment Research | May 07, 2019 04:08AM ET
Fossil Group, Inc. (NASDAQ:FOSL) is slated to release first-quarter 2019 results on May 8, after market close. This renowned manufacturer of watches and other accessories has seen its bottom line outperform the Zacks Consensus Estimate in three of the trailing four quarters. Let’s see how the company is positioned ahead of the upcoming quarterly results.
Expansion in Wearables & E-commerce Bode Well
Fossil is gaining from rapid growth of its connected wearables category that includes smartwatches, hybrid watches and activity trackers. The segment is likely to maintain the upside in the first quarter. Moreover, the company’s partnerships, such as with Qualcomm (NASDAQ:QCOM), Google (NASDAQ:GOOGL) and Citizen, as well as the addition of brands to its smartwatch line-up, are likely to support performance.
We note that the e-commerce space is providing much impetus to Fossil’s wearables sales, alongside other products. It has been making several investments to improve digital marketing and drive online sales. Strength in the e-commerce channel combined with yielding licensing agreements are expected to favorably impact the upcoming quarterly release.
Fossil Group, Inc. Price, Consensus and EPS Surprise
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