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Fossil stock soars after company posts revenue beat, narrower-than-expected loss

Shares of Fossil Group Inc. closed 12.8% higher after the company posted a first-quarter loss that wasn't as steep as analysts had been expecting. Fossil reported a first-quarter net loss of $48.3 million, or 99 cents a share, whereas it lost $48.2 million, or $1.00 a share, a year earlier. The company generated revenue of $569 million for the quarter, down from $582 million a year ago but ahead of the FactSet consensus estimate of $539.1 million.