×
71 111
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Glendale
Permanent · GLENDALE
MACY'S
Manager, Merchandise Execution
Permanent · Scottsdale
MACY'S
Asset Protection Detective, Fairfield Commons - Full Time
Permanent · Beavercreek
MACY'S
Asset Protection Detective, Center City - Full Time
Permanent · Philadelphia
MACY'S
Asset Protection Hourly Supervisor, Cheshire - Full Time (2840)
Permanent · Cheshire
MACY'S
Asset Protection Officer, Secaucus st fj - Part Time (2840)
Permanent · Secaucus
MACY'S
Asset Protection Detective, Square One - Part Time
Permanent · Saugus
MACY'S
Asset Protection Detective, Northridge Fashion Center - Full Time
Permanent · Los Angeles
MACY'S
Asset Protection Officer, Goodyear - Part Time (2840)
Permanent · Goodyear
MACY'S
Asset Protection Detective, Newpark - Full Time
Permanent · Newark
MACY'S
Asset Protection Security Guard, Boston - Part Time
Permanent · Suffolk
MACY'S
Asset Protection Detective, Willowbrook - Full Time
Permanent · Wayne
MACY'S
Asset Protection Detective, Bay Plaza - Full Time
Permanent · Bronx
MACY'S
Asset Protection Detective, Santa Ana Mainplace - Part Time
Permanent · Santa Ana
MACY'S
Retail Cosmetics Stock - Clinique, Valley Fair - Full Time
Permanent · Santa Clara
MACY'S
Asset Protection Detective, Willow Grove Park - Full Time
Permanent · Willow Grove
MACY'S
Asset Protection Detective, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Captain, North County Fair - Full Time
Permanent · Escondido
MACY'S
Asset Protection Security Guard, Aurora Town Center - Part Time
Permanent · Aurora
MACY'S
Asset Protection Detective, West County Center - Full Time
Permanent · Old Saint Louis
MACY'S
Asset Protection Detective, Lenox Square - Part Time
Permanent · Atlanta
DESIGNER BRANDS
Merchandise Planner Wholesale, Vmi
Permanent · Columbus
By
Reuters
Published
Aug 2, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Fitbit posts smaller loss on strong smartwatch sales

By
Reuters
Published
Aug 2, 2018

Fitbit Inc on Wednesday outpaced Wall Street estimates for quarterly results as its strategy of adding smartwatches to its product line got a boost in the second quarter with higher sales for ‘mass-appeal’ Versa.

Reuters


Smartwatch sales in the second quarter accounted for about 55 percent of its total revenue of $299.3 million (227.97 million pounds), which beat estimates of $285.4 million.

Shares of the company rose 3 percent to $6.11 in after-hours trading, with the company selling a total of 2.7 million devices in the quarter, above FactSet’s average estimate of 2.5 million.

Fitbit, which is popular for its colourful fitness trackers, is a late entrant to the smartwatch market and has been facing stiff competition from tech players with deeper pockets such as Apple Inc and Samsung Electronics.

Versa smartwatch outsold Samsung, Garmin and Fossil smartwatches combined in North America in the quarter, Chief Executive Officer James Park said in a statement.

Earlier in the day, rival Garmin Ltd reported better-than-expected quarterly profit, signalling higher demand in the wearable devices market.

Fitbit, which makes use of Chinese contract manufacturers to produce most of its devices, said if the proposed U.S. tariffs on Chinese goods comes into effect, it would impact its material costs.

“We are navigating a number of different paths to reduce or eliminate the impact of the tariff,” Chief Financial Officer Ronald Kisling said on a conference call with analysts.

The company said its full-year revenue forecast of $1.5 billion excludes the impact of the proposed U.S. tariffs on $200 billion worth of Chinese goods.

Fitbit now expects third quarter revenue in the range between $370 million and $390 million, the midpoint of which was above the average analyst estimate of $377.6 million.

The company’s net loss widened to $118.3 million, or 49 cents per share, in the second quarter ended June 30 from $58.2 million, or 25 cents per share, a year earlier.

On an adjusted basis, the company lost 22 cents per share, smaller than the estimate of 24 cents, according to Thomson Reuters I/B/E/S.

© Thomson Reuters 2023 All rights reserved.