Shares of Fossil Group Inc. FOSL, -8.20% rose 9% late Tuesday after the retailer posted a narrower-than-expected second-quarter loss and beat revenue forecasts. Fossil said it lost $7.8 million, or 16 cents a share, in the quarter, compared with a loss of $344.7 million, or $7.11 a share, in the year-ago period. Sales fell to $577 million, compared with $597 million a year ago. Analysts polled by FactSet had expected Fossil to report a GAAP loss of 87 cents a share on sales of $562 million. "The transformation of our business continues to yield positive results for Fossil Group, as we reported strong momentum in connected watches, expansion in gross margin and a reduction in expense," Chief Executive Kosta Kartsotis said in a statement. Fossil had ended the regular trading day down 8%.
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