Why Fossil Group Is Jumping Higher Today
Shares of Fossil Group (NASDAQ: FOSL) are up over 10% in midday trading Thursday, after the watchmaker reported second-quarter earnings that easily beat Wall Street's expectations.
Because retail stores closed down due to the coronavirus pandemic, no one was expecting Fossil to report good news. It reported worldwide net sales fell 48% to $259 million, generating a net loss of $22.5 million, or $0.44 per share.
However, that easily beat analyst forecasts of just $181 million in sales and losses of $1.71 per share.
Source Fool.com
