Why Fossil Group Inc. Stock Got Dumped Today

Fossil Group Inc. (NASDAQ: FOSL) stock was looking worn today as the watchmaker offered a disappointing outlook for the key holiday quarter. Shares were down 12.8% as of 12:25 p.m EST.

The maker of fashion accessories including handbags, belts, and jewelry actually beat analyst estimates in its third-quarter report. The company said revenue fell 7% to $688.7 million, but that came in ahead of estimates at $649.9 million, while a bottom-line result of adjusted earnings per share at $0.04 was well below a $0.48-per-share profit a year ago, but still topped expectations at a $0.28 loss.

Image source: Fossil Group.

Source: Fool.com