Fossil Group Inc Stock Price, News & Analysis

Fossil Group (NASDAQ: FOSL) has appointed two new members to its Board of Directors: Pamela Edwards and Wendy Schoppert, effective May 16, 2025. The appointments expand the board to ten members, including nine independent directors. Both will serve on the Audit Committee.

Edwards, currently serving on boards of Azek Company, Olaplex, and Citi Trends, brings extensive expertise in corporate finance and retail operations from her previous roles as CFO at Citi Trends and L Brands divisions. Schoppert, currently Chair of The ODP Corporation's Board and DaVita Inc. board member, brings experience in finance, digital transformation, and governance from her executive career at Sleep Number Corporation.

These appointments align with Fossil's ongoing turnaround plan, focusing on building long-term shareholder value.

Fossil Group (FOSL) reported Q1 2025 financial results with net sales of $233.3 million, down 8.5% from the previous year. Despite sales decline, the company showed improvements with gross margin expanding 890 basis points to 61.3%. The quarter resulted in an operating loss of $6.7 million, though constant currency adjusted operating income was $10.3 million. Key highlights include: - Traditional watch sales increased 2% in constant currency - MICHAEL KORS brand grew 12% in constant currency - Total liquidity of $99.5 million with $78.3 million in cash - Inventory decreased 19% year-over-year to $182.1 million - Net loss of $17.6 million ($0.33 per share) The company maintains its 2025 guidance, expecting worldwide net sales decline in mid to high teens and adjusted operating income margin in negative low single digits.

Fossil Group (NASDAQ: FOSL) has scheduled its first quarter 2025 earnings release for Wednesday, May 14, 2025. The company will disclose its financial results after the market closes, followed by a conference call at 5:00 p.m. ET.

Investors and interested parties can access the live conference call through Fossil Group's investor relations website at www.fossilgroup.com/investors. For those unable to join the live discussion, the call recording will be archived on the same website for future reference.

Fossil Group (NASDAQ: FOSL) announced equity awards as inducement grants for three newly appointed executives. The company is granting restricted stock units (RSUs) to:

• Antonio Carriero (Chief Digital Information Officer and GM EMEA): 100,000 RSUs
• Joe Martin (Chief Commercial Officer): 129,581 RSUs
• Randy Greben (Chief Financial Officer): 150,000 RSUs

The RSUs, effective April 15, 2025, will vest in three equal installments on the first, second, and third anniversaries of the grant date, contingent on continuous employment. These inducement awards were approved by the Compensation and Talent Management Committee on March 4, 2025, in compliance with Nasdaq Listing Rule 5635(c)(4), and were granted outside the company's equity incentive plan.

Fossil Group (NASDAQ: FOSL) has appointed Randy Greben as Chief Financial Officer, effective March 17, replacing Interim CFO Andrew Skobe. Greben will lead the company's global financial strategy, focusing on financial turnaround and business transformation.

Greben brings over 20 years of financial leadership experience, most recently serving as CFO and COO at Casper Sleep, where he strengthened the balance sheet and reduced costs. His previous roles include CFO positions at Blue Apron, ANN Inc., and Quidsi (an Amazon subsidiary).

The appointment aligns with Fossil's commitment to building its leadership team for long-term profitable growth, with CEO Franco Fogliato highlighting Greben's expertise as a proven leader and change agent in driving value creation for stakeholders.

Fossil Group (NASDAQ: FOSL) reported Q4 2024 financial results with worldwide net sales of $342 million, down 19% year-over-year. The company's Q4 gross margin expanded 630 basis points to 53.9%, while posting an operating loss of $16.3 million. Adjusted operating income was $20.1 million with adjusted income per share of $0.39.

The company announced a comprehensive turnaround plan focusing on three pillars: refocusing on core business, rightsizing cost structure, and strengthening the balance sheet. For 2025, FOSL expects to achieve SG&A savings of approximately $100 million through corporate workforce reduction, transitioning select markets to distributor model, and closing about 50 retail stores.

Key financial metrics for Q4 2024:

• Inventory decreased 29.4% to $178.6 million
• Generated $30 million in free cash flow
• Total liquidity of $177 million
• Traditional watch sales declined 10%

For 2025, FOSL projects worldwide net sales decline in mid to high teens range, with adjusted operating income margin in negative low single digits.

Fossil Group (NASDAQ: FOSL) has scheduled its fourth quarter and full year 2024 financial results announcement for Wednesday, March 12, 2025, after market close. The company will host a conference call at 5:00 p.m. ET on the same day to discuss the results. Investors can access the live call through Fossil's investor relations website, where a replay will also be available.

Fossil Group (NASDAQ: FOSL) has announced the extension of its partnership with Michael Kors through 2027. Under this agreement, Fossil will continue to design and produce watches and jewelry for Michael Kors, maintaining their distribution across global networks. The partnership, which has lasted over 20 years, represents one of Fossil's most valued licensed relationships.

Franco Fogliato, CEO of Fossil Group, expressed honor in maintaining the trusted partnership, while John D. Idol, Chairman and CEO of Capri Holdings and CEO of Michael Kors, affirmed satisfaction with the continued collaboration.

Fossil Group (NASDAQ: FOSL) has announced two key executive appointments to drive its business turnaround strategy. Joe Martin will join as Chief Commercial Officer on February 17, bringing extensive experience from Adidas where he served as Senior Vice President and led significant turnaround efforts. Martin will oversee all global revenue-generating activities.

Antonio Carriero will assume the role of Chief Digital Information Officer and General Manager EMEA effective February 12. Carriero, with previous experience at Salomon and Breitling SA, will lead the company's global technology strategy, operations, cybersecurity, and EMEA commercial business.

These appointments align with Fossil's commitment to returning to profitable growth and creating long-term shareholder value through strengthened leadership in commercial operations and digital transformation.