Fossil Group, a US-based global design, marketing and innovation company specializing in lifestyle accessories, reported a 7% sales decline in the first quarter (Q1) ending 3 April 2021. That’s $ 363 million. Synchronized with the previous term. The company’s third quarter net loss fell to $ 24.4 million (first quarter: $ 85.6 million).
Costa Carzotis, Chairman and CEO of Fossil Group, said: In a press release.
Gross profit for the first quarter of 2009 increased to $ 182.6 million ($ 140.4 million), and selling, general and administrative expenses amounted to $ 187.4 million ($ 245.7 million). millions of dollars). The company’s operating expenses for the three months were $ 199.4 million ($ 274.7 million).
Fossil Group’s watch division sales fell to $ 291.6 million ($ 309.9 million) and leather sales fell to $ 34.1 million ($ 47.3 million). However, jewelry sales increased to $ 29.9 million ($ 28.4 million) in the first quarter of 2009.
Quarterly sales in the Americas remained stagnant at $ 152.5 million ($ 152.9 million), but Europe reported they fell to $ 109.2 million ($ 128.2 million) ). .. Additionally, sales from Asia jumped to $ 106.2 million ($ 98.6 million).
“The Covid pandemic continues to disrupt certain markets, but is encouraged by the prospects of large markets like the United States and mainland China which are benefiting from the implementation of digital strategies. In a broader sense, the digital mix. We are pleased to have successfully transformed our business model to strengthen our business, significantly improve our cost structure and drive long-term growth and profitability, ”concludes Kartsotis.
Fiber2Fashion Press Office (JL)
Fossil Group, a global design, marketing and innovation firm specializing in lifestyle accessories, saw sales drop 7% to 363 million in the first quarter, ended April 3, 2021. In dollars, it was $ 390.7 million for the same period. Last year. The company’s third quarter net loss fell to $ 24.4 million (first quarter: $ 85.6 million).
Fossil Group, an American fashion company, reported sales of $ 363 million in the first quarter of 2009.
Source link Fossil Group, an American fashion company, reported sales of $ 363 million in the first quarter of 2009.