India, May 13 -- Fossil Group Inc. (FOSL) on Wednesday reported a narrower first-quarter loss, as lower restructuring expenses and reduced operating costs offset a decline in sales.
Net loss attributable to Fossil Group narrowed to $0.8 million, or $0.01 loss per share, from a net loss of $17.6 million, or $0.33 loss per share, in the year-ago quarter.
Adjusted net loss improved to $1.9 million, or $0.03 loss per share, from a net loss of $5.0 million, or $0.10 loss per share, last year.
Net sales declined 3.6% to $224.8 million from $233.3 million a year earlier. The company said sales were negatively impacted by the current quarter containing 13 weeks compared with 14 weeks in the prior-year quarter, along with store rationalization in...