Fossil reports Q4 EPS 94c, consensus $1.09
Reports Q4 revenue $$787M, consensus $806.67M. Reports Q4 SSS down 7%. Kosta Kartsotis, Chairman and Chief Executive Officer stated: "Looking back on the past year, we are pleased with the progress we made on two critical goals: to improve our overall profitability and to strengthen our financial position. Although we are a smaller company exiting 2018, we are significantly more profitable with operating income up significantly over last year's level and debt reduced by over $200 million. We accomplished this in a tough environment by emphasizing innovation, creating efficiencies and improving our balance sheet while forging powerful partnerships to position Fossil Group for long term success. As we begin 2019, our priorities continue to focus on capitalizing on the opportunity in connected, stabilizing traditional watch sales, and increasing efficiency across our company. We remain committed in our mission to increase our market share in the growing global watch industry and I believe we have the talent, brands, and strategy to accomplish our goals."