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Garmin Q2 Sales Dragged Down By Weakness In Fitness Wearables

July 27, 2022

Garmin, Ltd. reported sales declined 6 percent in the second quarter ended June 25, pulled down by a 34 percent drop in the fitness segment. Garmin reduced its guidance for the year, with earnings being impacted by the strengthening of the U.S. dollar, high inflation, and rising interest rates. SGB Media