NEW YORK (TheStreet) -- Shares of Fossil Group (FOSL) were retreating in after-hours trading on Thursday as the fashion accessories retailer posted lower-than-expected revenue for the 2016 third quarter and gave light guidance for the fourth quarter.
After today's market close, Fossil said revenue was $738.00 million, falling short of analysts' estimated $739.12 million.
The company reported adjusted earnings of 36 cents per share, beating Wall Street's expectations of 31 cents per share.
Fossil now projects to report adjusted earnings between $1.07 to $1.57 per share for the 2016 fourth quarter, while analysts are looking for adjusted earnings of $1.31 per share.
The company expects net sales in the range of a 2% decrease to a 4% increase.
For 2016, Fossil forecasts adjusted earnings in the range of $1.80 to $2.30, while analysts are looking for adjusted earnings of $1.87 per share.
Net sales for the year are projected to decrease between 5% and 3%.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Fossil as a Sell with a ratings score of D+. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and disappointing return on equity.