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 10, 2023 | 12:27 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, causing its shares to trade lower.
Fossil Group's lower than expected Q2 financial results and the lowering of its FY23 worldwide net sales guidance are negative indicators for the company's financial health. This has led to a decrease in investor confidence, causing the company's shares to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100