Fossil Tumbles as Company Slashes Forecast, Sales Lag EstimatesBy
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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