Winning FOSL Stock Forecast: Fossil Group Restructuring Plan Making The Right Plays In The Wearables Space

Winning FOSL Stock Forecast

“The introduction of smartwatches has had a huge impact on this category and it’s disrupted us in a really exciting way, We look at this as a new opportunity to grow the wrist.”

– Steve Evans, EVP Fossil Group

 

(Source: By Fossil Group (https://www.fossilgroup.com/) [Public domain], via Wikimedia Commons)

Although FOSL did not do well in its previous earnings reports, the outlook is quite positive for the company as it continues it restructure plan called the New World Fossil. They have been closing unprofitable stores and products recently with a focus of getting more into the ecommerce and smartwatches space. On a constant currency basis, Fossil smartwatches have grown by 97% in 2018 thus far with an increase of nearly 50% in ecommerce sales.

Analysts from multiple stock analysis companies have increased their price targets of Fossil Group throughout the 3 month period giving buyers optimistics visions of the company. According to CCS Insight, wearable tech will increase by $34 billion by 2020. This price expectation is backed by the many uses of wearable tech, including health monetization, police use, and tracking devices. Thus, Fossil has released 14 new hybrid and smartwatches to get a hold on the market.

I Know First’s forecast has been bullish for the few forecasts of FOSL and it continues to prove to be correct. On March 20, 2018, the algorithm gave a forecast with a signal of 75.16 and predictability of .24 over a 3 month time horizon. In accordance with the algorithm, the stock had a return of 141.97% while the S&P 500 had a return of 2.01% during the same period.

 

Current I Know First subscribers received this bullish FOSL forecast on March 20, 2018.

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Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First subscribers.

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Fossil Group, Inc. (NASDAQ: FOSL), together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. Fossil Group, Inc., incorporated on December 26, 1991, is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity. The Americas segment includes sales to customers based in Canada, Latin America and the United States. The Europe segment includes sales to customers based in European countries, the Middle East and Africa. The Asia segment includes sales to customers based in Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand. The Company’s principal offerings include a line of men’s and women’s fashion watches and jewelry, handbags, small leather goods, belts, sunglasses and soft accessories. The Company’s products are distributed through various distribution channels, including wholesale in countries where it has a physical presence, direct to the consumer (D2C) through its retail stores and commercial Websites and through third-party distributors in countries where it do not maintain a physical presence. Since 2015, Fossil Group has partnered with Google to continue to help make smart watches both stylish and productive.