Fossil Group shares are trading lower after the company reported a year-over-year decrease in Q2 financial results and lowered FY23 worldwide net sales guidance.
Portfolio Pulse from Benzinga Newsdesk
Fossil Group reported a year-over-year decrease in Q2 financial results and lowered its FY23 worldwide net sales guidance, leading to a drop in its share price.
August 09, 2023 | 8:33 pm
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Fossil Group's Q2 financial results have decreased year-over-year and the company has lowered its FY23 worldwide net sales guidance, which has negatively impacted its stock price.
Fossil Group's lower Q2 financial results and reduced FY23 sales guidance indicate a potential slowdown in the company's growth, which is likely to negatively impact investor sentiment and drive the stock price down in the short term.
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