Apple Watch launch weighs on Fossil, Garmin

By | February 19, 2015

Scalper1 News

W hat time is it? Time for Fossil and Garmin investors to start worrying about the impact of the Apple Watch. Both companies took a hit this week after reporting disappointing fourth-quarter results, and analysts started speculating on the impact of Apple’s (AAPL) upcoming smartwatch, due out in April. On a conference call with analysts Tuesday, designer-watch maker Fossil Group (FOSL) noted that newcomers (read: Apple) could hurt the company’s business. “While notable newcomers can help grow the market by bringing new customers into the category, they might also cause some near-term disruption,” Chief Financial Officer Dennis Secor said. In the December quarter, Richardson, Texas-based Fossil earned $2.92 a share excluding items on sales of $1.06 billion. EPS was up 9% and sales were flat year over year. Analysts polled by Thomson Reuters were looking for Fossil to earn $3.07 a share on sales of $1.12 billion…. Scalper1 News

Scalper1 News