Fossil Tumbles as Company Slashes Forecast, Sales Lag Estimates

  • Technology-driven accessories, strong dollar hurt earnings
  • Shares of brand partners Michael Kors, Kate Spade also suffer

Fossil Group Inc. shares plummeted to the lowest price in more than six years after the company slashed its full-year earnings forecast, saying the increasing popularity of smartwatches and a challenging retail environment will continue to weigh on sales.

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