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Fossil: Watch Out? Watch Out!

Shares of Fossil Group (FOSL) are in freefall this morning after the watchmaker reported weaker-than-expected earnings and guidance that suggested the shift away from traditional watched to wearables is happening quickly enough. And did I mention its CFO is leaving?

Fossil reported an adjusted loss of 61 cents a share, missing forecasts for a loss of 33 cents, on sales of $596.8 million, below forecasts for $618 million.

Oppenheimer analyst Anna Andreeva and Samantha Lanman explain what happened:

FOSL has missed its initial annual sales guidance since '15, and '17 is shaping up similarly, with wearables sales already reined in twice since the beginning of the year, as there's pushback from both consumer (the watch is too bulky for FOSL's primarily female customer) and distribution (CE...