Fossil Group, Inc. Reports Third Quarter Fiscal Year 2016 Results

Third Quarter Net Sales of $738 million; Diluted EPS of $0.36

 Updates Fiscal 2016 Guidance and Provides Fourth Quarter Guidance

Launches Multi-Year Process to Drive Profit Improvement

RICHARDSON, Texas, Nov. 03, 2016 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ:FOSL) (the "Company") today reported its financial results for the fiscal quarter ended October 1, 2016.

Third Quarter Fiscal Year 2016 Revenue SummaryIn the third quarter of fiscal 2016, reported worldwide net sales decreased 4% or $33.3 million including declines in the Company's multi-brand licensed watch portfolio, leathers and jewelry.  The following table provides a summary of net sales performance compared to the third quarter of fiscal year 2015.
    Third Quarter 2016
    Reported Results (1)       Constant Currency (2)
Total Company     -4 %             -4 %    
Americas     -8 %         -7 %
Europe     -7 %         -4 %
Asia     12 %         8 %
             
Watches     -2 %         -2 %
Leathers     -11 %         -11 %
Jewelry     -10 %         -9 %

(1) Includes impacts from currency.(2) Eliminates the effect of the stronger U.S. dollar in fiscal 2016 to give investors a better understanding of the underlying trends within the business.  See constant currency financial information at the end of this release for more information.

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