NEW YORK (TheStreet) -- Shares of Fossil Group (FOSL) were gaining 4.7% to $90.50 in after-hours trading on Tuesday after the fashion company beat analysts' estimates for earnings in the first quarter.
Fossil reported earnings of 75 cents a share for the first quarter, beating analysts' estimates of 64 cents a share for the quarter. Revenue fell 6.6% year over year to $725 million for the quarter, missing analysts' estimates of $782.02 million.
"With our first quarter complete, we feel we are on track to achieve our goals for the year," CEO Kosta Kartsotis said. "Our diversified global operating platform and powerful brands continued to serve us well, leading to first quarter net sales and overall performance that were in line with our current financial expectations."
The company expects earnings of 80 cents to 91 cents a share for the second quarter, above analysts' estimates of 70 cents a share. For the full year 2015 Fossil expects to report earnings of $5.25 to $6.05 a share, compared to analysts' estimates of $5.67 a share for the year.
TheStreet Ratings team rates FOSSIL GROUP INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FOSSIL GROUP INC (FOSL) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself."