Fossil CEO Kartsotis cuts his stake in the Texas-based fashion brand – Dallas News (weblog)

Inventory gross sales in Might and June have lowered his holdings to three,800,837 shares, or 7.eight % of shares excellent. Shares have been bought on the open market at costs that ranged from $9.73 on June 14 to $11.84 on Might 25.

InsiderInsights, a agency that tracks and analyzes inventory exercise of firm insiders, rated Kartsotis' current sale "vital," in line with a report in Searching for Alpha.

In Might when the firm reported a 12 % first-quarter gross sales decline and swung to a loss, Kartsotis mentioned, conventional watch gross sales continued to say no and overshadowed Fossil's development in smartwatches and related gadgets, comparable to health trackers.  It has been two years since the Apple Watch hit the market and disrupted the fashion watch enterprise that Fossil has dominated for years with its personal manufacturers that embrace Michele luxurious watches and licensed manufacturers Michael Kors, Kate Spade and Tory Burch.

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