Welcome to our dedicated page for Fossil Group news (Ticker: FOSL), a resource for investors and traders seeking the latest updates and insights on Fossil Group stock.
Fossil Group, Inc. reports developments in its global lifestyle accessories business, including watches, jewelry, handbags, small leather goods, belts and sunglasses. The company markets owned brands such as Fossil, Michele, Relic, Skagen and Zodiac, alongside licensed brands including Armani Exchange, Diesel, Emporio Armani, Michael Kors, Skechers and Tory Burch across wholesale, retail and e-commerce channels.
Recurring updates include quarterly and annual results, gross-margin and product-margin commentary, turnaround-plan actions, brand campaigns, executive and organizational changes, and financing matters tied to senior notes, asset-based lending and equity-capital activity.
Fossil Group has announced its second quarter 2020 earnings release date, set for August 12, 2020, after market close. This will be followed by a conference call at 5:00 p.m. ET to discuss the financial results. Interested parties can access the call live on the company's investor relations website. Fossil Group specializes in lifestyle accessories, offering a diverse range of products under both owned and licensed brands, including watches, jewelry, and wearables.
Fossil Group reported a 16% decrease in worldwide net sales for Q1 2020, totaling $391 million, largely due to COVID-19 impacts on retail operations. The operating loss rose to $134 million compared to $20 million a year ago. Gross profit fell to $140.4 million, reflecting a 35.9% gross margin, down from 53.3%. The company has expanded its New World Fossil 2.0 program, aiming to achieve $100 million in cost savings this year. Despite proactive measures, sales are expected to decline by 60%-70% in Q2 2020.
Fossil Group (NASDAQ: FOSL) will release its Q1 financial results for the period ending April 4, 2020, on June 3, 2020, after market close. A conference call to discuss these results will follow at 5:00 p.m. ET, accessible on the Company's investor relations website. Fossil is a global company specializing in lifestyle accessories, offering a diverse range of products under several owned and licensed brands.
On May 5, 2020, Fossil Group (NASDAQ: FOSL) announced a virtual format for its Annual Meeting of Stockholders, scheduled for May 20, 2020, at 9:00 a.m. CST, due to the COVID-19 pandemic. Stockholders recorded on March 25, 2020, can participate by registering online by May 17, 2020. Proxy materials previously distributed remain valid for voting. For attendance, registered holders will need a control number, provided via email upon registration. Fossil specializes in lifestyle accessories, operating under a diverse portfolio that includes fashion watches, jewelry, and wearables.