Fossil Group shares rose 11% as first-quarter results exceeded expectations despite a 3.6% year-over-year sales decline.
Fossil Group (FOSL) shares climbed 11% in Thursday trading after the company reported first-quarter earnings that surpassed Street estimates. Net sales fell 3.6% year-over-year to $224.8M, impacted by a shorter 13-week quarter compared to 14 weeks in the prior year.
The decline in sales was attributed to the reduced reporting period, though the company maintained its full-year outlook. Regional performance varied, with Europe showing resilience amid broader market challenges.
The stock’s gain reflected investor optimism over the company’s turnaround efforts and better-than-expected financials.