Fossil Group, which makes watches for Michael Kors, Tory Burch, DKNY and other big designers, reported a 7 percent decline in revenues in the first quarter, to $725 million,” Fickenscher reports. “Michael Kors, for one, is feeling some pain. ‘Our watch business is not healthy in North America,’ said CEO John Idol this week, adding ‘whether that’s something that’s a trend, whether that’s something that’s driven around other entries into the category, we’re not exactly 100 percent sure.'”
Read more in the full article here.
MacDailyNews Take: The denial is strong with this one. It’s the Apple Watch, John. You need to get yourself mentally prepared for what’s coming your way.
[Thanks to MacDailyNews Reader “Nicholas C.” for the heads up.]
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