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. (NASDAQ: FOSL) generates a steady flow of news as a global design, marketing and distribution company focused on consumer fashion accessories. This news page aggregates coverage of Fossil Group’s public announcements, including its financial updates, restructuring developments and corporate actions related to its watch, jewelry, handbag, small leather goods, belt and sunglasses businesses.
Investors and followers of FOSL can use this feed to track quarterly earnings releases and operating updates. For example, the company’s third quarter 2025 press release discusses worldwide net sales, operating results by region and channel, gross margin, operating expenses and adjusted measures such as constant currency operating loss and adjusted EBITDA. These disclosures also highlight trends in major product categories and brands within the Fossil Group portfolio.
Fossil Group’s news flow also covers its capital structure and restructuring activities. Recent press releases and related Form 8‑K filings describe a restructuring plan for its 7.00% Senior Notes due 2026 under UK law, the approval of that plan by noteholders and the High Court of Justice of England and Wales, and the subsequent cancellation of the notes and issuance of new secured senior notes due 2029. Additional announcements address extensions of an exchange offer and rights offering, court hearings, and recognition of the restructuring plan in the United States.
Beyond earnings and debt transactions, Fossil Group issues news about governance and shareholder matters, such as the timing of its annual meeting, proxy materials and the ratification of its independent registered public accounting firm, as outlined in its definitive proxy statement. The company also announces the timing of earnings conference calls and the availability of registration statements related to its financing activities.
By reviewing this news page regularly, readers can follow how Fossil Group communicates about its financial performance, restructuring progress, brand‑led operating model and key risks and uncertainties referenced in its SEC filings. The page provides a centralized view of FOSL‑related press releases and regulatory news for those monitoring the company’s ongoing turnaround and operations in the fashion accessories sector.
Fossil Group, Inc. (NASDAQ: FOSL) has announced an equity award as a material inducement for its newly-hired Chief Executive Officer, Franco Fogliato. The award consists of 1,500,000 time-based restricted stock units (RSUs) with an effective grant date of October 15, 2024. The RSUs will vest in two equal installments: 50% on the first anniversary and 50% on the second anniversary of the grant date, contingent on Fogliato's continuous employment with the company.
The inducement award was approved by Fossil Group's Board of Directors on September 1, 2024, in compliance with Nasdaq Listing Rule 5635(c)(4). It was granted outside the company's equity incentive plan and is intended to serve as a material inducement for Fogliato's employment, which began on September 18, 2024.
Fossil Group, Inc. (NASDAQ: FOSL) has appointed Franco Fogliato as its new Chief Executive Officer and Board member, effective September 18, 2024. Fogliato, with over 25 years of consumer industry experience, succeeds Jeffrey Boyer, who will return to his role as Chief Operating Officer. The Board expects Fogliato's expertise in brand stewardship and transformation to lead Fossil into its next chapter.
Fogliato's most recent position was President and CEO of Salomon, where he successfully turned around the business. His prior experience includes executive roles at Columbia Sportswear Company, Billabong Group, and The North Face. The transition aims to advance Fossil's Transform and Grow Plan, with Boyer providing leadership support through early 2025 to ensure a smooth handover.
Fossil Group (NASDAQ: FOSL) reported Q2 2024 financial results, showing continued progress under its Transform and Grow (TAG) Plan. Worldwide net sales decreased 19% to $260 million, including a 5-point negative impact from exiting smartwatches and optimizing retail stores. Gross margins expanded 390 basis points to 52.6%. SG&A expenses decreased 18% to $154 million. The company reported an operating loss of $34 million, compared to $35 million last year. Inventory decreased 38% year-over-year to $202 million. Fossil maintains its full-year 2024 outlook, expecting worldwide net sales of approximately $1.2 billion and an adjusted operating margin between -3% and -5%. The company anticipates generating positive free cash flow in 2024.
Fossil Group, Inc. (NASDAQ: FOSL) has announced that it will release its second quarter 2024 financial results after the market closes on Thursday, August 8, 2024. The company will host a conference call to discuss these results at 5:00 p.m. ET on the same day. Investors and interested parties can access the live call through Fossil Group's investor relations website at www.fossilgroup.com/investors. For those unable to attend the live event, an archived version of the call will be made available on the same website for future reference.
The Buxton Helmsley Group (BHG), a significant shareholder of Assertio Holdings (NASDAQ: ASRT), has issued a letter to the company's Board of Directors expressing grave concerns about its composition and performance. BHG calls for the immediate resignation of four directors, including Chairman Peter Staple, and criticizes the Board's failure to explain and recover damages from the value-destructive Spectrum Pharmaceuticals acquisition. The letter highlights issues such as the 75% write-down of Spectrum's value within three months of acquisition, inadequate due diligence, and a lack of specific expertise on the Board. BHG threatens a proxy contest and potential derivative litigation if no progress is made, intending to nominate independent, qualified directors at the next shareholder meeting.
Fossil Group, Inc. (NASDAQ: FOSL) announced the appointment of Andrew Skobe as Interim CFO following Sunil Doshi's departure. Doshi will stay until July 19, 2024, to ensure a smooth transition. Skobe joins with over 30 years of experience in finance and operations across various sectors. The company has engaged Ankura Consulting for interim-CFO services and has begun searching for a permanent replacement. Fossil reaffirmed its 2024 financial outlook, projecting worldwide net sales of $1.2 billion, an adjusted operating margin between -3% and -5%, and positive free cash flow, including $57 million in tax refunds received in Q2 2024. Quarterly earnings are expected on August 8, 2024.
Fossil Group, Inc. reported a first-quarter net sales decrease of 22% to $255 million, with gross margins up 300 basis points to 52.4%. The company's operating loss was $29 million, and adjusted operating loss was $19 million. Inventory decreased by 33% to $224 million, with cash and cash equivalents at $113 million. The company received a $57 million US tax refund post-quarter. Fossil stresses progress under its Transform and Grow Plan, restructuring costs and a strategic review. The company's operating expenses decreased by 18%, while gross profit fell to $133.5 million. Operating loss was $29.2 million, and adjusted operating loss was $18.9 million. Net loss was $24.3 million with a net loss per diluted share of $0.46. Fossil reiterates its full-year 2024 outlook, expecting net sales of $1.2 billion and a adjusted operating margin range of -3% to -5%.
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