Fossil Says To Double Wearables Offering In 2017, Stock Slumps

Watch maker Fossil Group said Thursday it is planning to double its wearables product line-up in 2017 to more than 300 new products and will add extra brands to its stable. These include Armani Exchange hybrid smartwatches, and Misfit's Vapor, the first touchscreen smartwatch featuring a heart rate, GPS and standalone music functions. The company said it launched more than 140 new wearables in 2016 across 40 countries. Shares fell 6% in early trade, and are down 24% in the last 12 months, while the S&P 500 has gained 12%.