Despite these positive developments, Fossil faces notable challenges, as outlined in the report. The company reported significant sales declines in key segments, such as licensed fashion watches and leather products, which make up over 40% of its revenues. The strategic decision to exit unprofitable retail locations and the smartwatch category is expected to hurt revenues by approximately $100 million in 2024. High debt levels and interest expenses also pose financial strains. Fossil shares are currently tr ...

Company Participants Operator Now I'll turn the call over to Christine Greany of The Blueshirt Group to begin. In addition, Fossil assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. During today's call, we will refer to constant currency results. Please note that you can find a reconciliation of actual results to constant currency results and other information regarding non-GAAP fin ...

Exhibit 99.1 • First quarter worldwide net sales decreased to $255 million, down 22% on a reported basis and 21% in constant currency, reflecting five points of impact related to the Company's strategic actions to exit the smartwatch category and optimize its retail store portfolio. • Gross margins expanded 300 basis points to 52.4%, primarily reflecting progress under the Company's Transform and Grow ("TAG") Plan. • Selling, general and administrative ("SG&A") expenses of $152 million were down 20% versus ...

COCONUT CREEK, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- Kanen Wealth Management, LLC, ("KWM") owner of approximately 4% of the Fossil Group, Inc.'s (NASDAQ:FOSL) 7% Senior Notes due 2026 (NASDAQ:FOSLL), issues the following open letter to the Company's Directors: Dear FOSL Directors, Fossil is a $1 bill + co., and a solid brand with ample opportunity, one that enjoys high gross margins in excess of 50%. Judging by the actions of the board and management, there is a lack of urgency in executing its strategic ...

Fossil Group, Inc. (NASDAQ:FOSL) Q4 2023 Results Conference Call March 13, 2024 5:00 PM ET Company Participants Christine Greany - The Blueshirt Group Jeff Boyer - Interim Chief Operating Officer Sunil Doshi - Chief Financial Officer Operator Good afternoon, ladies and gentlemen, and welcome to the Fossil Group Fourth Quarter and Full Year 2023 Earnings Call. At this time, all parties are in a listen-only mode. This conference call is being recorded and may not be reproduced in whole or in part without writ ...

Exhibit 99.1 Richardson, TX, March 13, 2024 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fourth quarter and fiscal year ended December 30, 2023. Separately, the Company also announced today that Kosta N. Kartsotis has stepped down as Chief Executive Officer and Jeffrey N. Boyer, Chief Operating Officer, has been appointed Interim CEO, effective immediately. "During 2023, we made solid progress under our Transform and Grow (TAG) Plan, enabling us to exit the ...

Use these links to rapidly review the document TABLE OF CONTENTS PART IV Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41040 FOSSIL GROUP, INC. (Exact name of re ...

Fossil Group, Inc. (NASDAQ:FOSL) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants Christine Greany - Investor Relations Kosta Kartsotis - Chairman and Chief Executive Officer Jeff Boyer - Chief Operating Officer Sunil Doshi - Chief Financial Officer Conference Call Participants Operator Good afternoon, ladies and gentlemen and welcome to the Fossil Group Third Quarter 2023 Earnings Conference Call. [Operator Instructions] This conference call is being recorded and may not be ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________ FORM 10-Q __________________________________________________________________ (Mark One) For the transition period from to Commission file ...

Company Participants Kosta Kartsotis - Chairman and CEO Conference Call Participants Now I'll turn the call over to Christine Greany of the Blueshirt Group to begin. I would like to remind you that information made available during this conference call contains forward-looking information and actual results could differ materially from those that will be discussed during this call. Fossil Group's policy on forward-looking statements and additional information concerning a number of factors that could cause ...