Shares of watch company Fossil (NASDAQ: FOSL) were slammed Wednesday, falling as much as 24.8% after the company reported worse-than-expected first-quarter results. At the time of this writing, shares are down about 22.7%.
Fossil reported first-quarter net sales of $582 million and a loss per share of $0.65 after being adjusted to excluded a restructuring charge of $0.35. These results compare to net sales of about $660 million and earnings per share of $0.12 in the year-ago quarter.
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