Fossil Group, Inc. (FOSL), a company involved in the consumer fashion accessories business, has plunged 15.35% in the pre-market trading session. Consequently, the stock was trading at $12.30 when last checked. During Wednesday’s regular trading session, the stock rose by 14.77% to close the day at $14.53. The plunge in aftermarket could be attributed to the release of financial results by the company.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Q4 and FY 2021 Results
On Wednesday, after the closure of the market, FOSL released the results for the fourth quarter of the fiscal year 2021 as well as for the full year 2021. The net sales during the quarter were $604.2 million, a growth of 14% on a year-over-year basis. The operating income increased to $47.2 million versus $18.3 million during Q4 2020. The net income for Q4 2021 was estimated to be $19.6 million (or diluted EPS of $0.37) compared to a net loss of $3.9 million (or diluted loss per share of $0.08) during Q4 2020. The net sales during fiscal 2021 totaled $1.9 billion, depicting an increase of 16% on a year-over-year basis. The net income during fiscal 2021 stood at $25.4 million (or diluted EPS of $0.48) against net loss of $96.1 million (or diluted loss per share of $1.88) suffered during FY 2020.
FY 2022 Outlook
FOSL also released the outlook for the full year 2022. The company expected the worldwide net sales to increase in a range of 2% to 6%. The adjusted operating income margin for the full year is expected to remain in the range of 6% to 7%. The guidance assumes a negative foreign currency impact of 250 basis points which is based on the prevailing rates.
Comments from CEO of FOSL
Kosta Kartsotis, Chairman and CEO of FOSL, commented that the financial results of 2021 depict the strong demand from the side of consumers. It also sheds a light on the strengths of the company across crucial regions. The company has entered 2022 well-positioned to capitalize on enhancing the strength of its brand as well as meeting the consumer demands.
What Lies in Store for FOSL?
Looking ahead, analysts are of the view that FOSL stock holds several positive signals and depicts a strongly rising trend. Hence, based on the current trend, the stock is expected to perform well during the next few months.
