Fossil Says To Double Wearables Offering In 2017, Stock Slumps

By Ciara Linnane Markets MarketWatch Pulse

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%.

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