. Fossil said it lost $1.69 per share on revenues of $390.7 million. Factset analysts estimated a $1.51 loss per share for the quarter and $381.3 million in revenue.
To deal with setbacks stemming from the pandemic, the company said it has cut costs and "enhanced its financial position" by drawing down $100 million of its $275 million credit facility and eliminating the majority of its planned capital expenditures for 2020, among other measures. Fossil said it is not providing future financial guidance due to uncertainty stemming from the pandemic and said it expects the biggest sales impact to be in the second quarter.
Wall Street ponzi schemers getting way out over skis and the little guys are about to take it up the shorts .... again. WallStreet stocks ponzi market
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