Fossil group reports q1 loss per share $1.69

Fossil group, inc. reports first quarter 2020 financial results and provides covid-19 update.q1 loss per share $1.69.q1 sales $390.7 million.sees q2 sales down 60 to 70 percent.expects to close q2 of 2020 with about $200 million of cash and cash equivalents.fossil group - proactively drawing down $100 million of company's $275 million credit facility.fossil group - eliminating majority of planned capital expenditures for 2020.fossil group - commenced a phased reopening of fossil retail stores globally, expected to be completed by end of june 2020.fossil group - closely managing working capital by reducing incoming inventory.anticipates that covid-19 pandemic will continue to pressure sales throughout 2020.is not providing financial guidance at this time.fossil group - qtrly global retail comparable sales in constant currency decreased 14%.
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