Fossil (FOSL)’s 40% Fall and the European Excuse

Fossil Inc. (NASDAQ:FOSL) was falling hard on the market this morning after a disappointing earnings report which included a warning that the rest of the year would not be as good as had previously been anticipated. The stock is down nearly 40% to 79.75 at time of writing, a drop of 45.91 from yesterday’s close. The watch maker posted profits of 93 cents per share, slightly above the consensus estimate of 92 cents per share. The company’s sales were up from last year’s $537 million to $589.5 million for the quarter. Analysys had expected higher sales of $617.6 million. As can…