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, Inc. (NASDAQ: FOSL) reported Q1 2021 net sales of $363 million, a 7% decline on a reported basis and 10% in constant currency. The company noted improved consumer demand and a 40% surge in digital sales, making up 41% of total sales. Gross margin reached 50.3%, a significant increase from 35.9% last year, aided by reduced inventory costs. While the operating loss shrank to $17 million from $134 million, a net loss of $24.4 million was reported. For 2021, Fossil anticipates net sales growth of 12% to 16% with projected sales increases of 50% to 55% for Q2.
Fossil Group, Inc. (NASDAQ: FOSL) will release its Q1 2021 financial results on May 12, 2021, after the market closes. A conference call will follow at 5:00 p.m. ET for discussion of the financial outcomes. Investors can access the call live on the company’s investor relations website, with an option for replay. Fossil specializes in lifestyle accessories and operates under various owned and licensed brands, with a strong commitment to innovation and design.
Fossil Group, Inc. (NASDAQ: FOSL) announced the promotion of Sunil Doshi to Chief Financial Officer and Treasurer, effective March 29, 2021. Doshi, with over 20 years of finance experience, takes over from Jeffrey Boyer, who remains Chief Operating Officer. Chairman Kosta Kartsotis expressed confidence in Doshi's leadership to drive sustainable sales growth and profitability. This organizational change aims to strengthen Fossil's executive team and support the company's transformation into a digital-first organization, enhancing operational efficiencies across various domains.
Fossil Group (NASDAQ: FOSL) reported Q4 and fiscal year 2020 results, revealing net sales of $528 million, down 26%. However, digital sales surged 25% with a notable 50% increase in the owned e-commerce channel, comprising 43% of total sales. Gross margin improved to 49.2%, and operating income reached $18 million, contrasting with a loss last year. The company reduced operating expenses by 22% and ended the year with $316 million in cash and $227 million in debt. Looking forward, Fossil aims for 10-15% sales growth in 2021, emphasizing digital expansion and innovation.
Fossil Group, Inc. (NASDAQ: FOSL) will report its fourth-quarter financial results on March 10, 2021, after market close. A conference call will follow at 5:00 p.m. ET, accessible via the company's investor relations website. Fossil specializes in lifestyle accessories, including watches, smartwatches, jewelry, and more, under various owned and licensed brands. The company aims to showcase its design and innovation across its diverse product offerings and global distribution network.
Fossil Group, Inc. (NASDAQ: FOSL) reaffirms its long-standing partnership with the Armani Group, established in 1997, focusing on innovative design and product distribution under the Emporio Armani, Armani Exchange, and Emporio Armani Swiss brands. CEO Kosta Kartsotis highlighted the potential for brand equity growth as Giorgio Armani collaborates with Parmigiani Fleurier in the luxury watch sector. Armani's Deputy Managing Director, Giuseppe Marsocci, expressed confidence in Fossil's design capabilities, ensuring future growth in their partnership.
Fossil Group (NASDAQ: FOSL) reported third-quarter 2020 financial results, revealing a 19% decline in worldwide net sales to $435 million, affected by COVID-19. However, e-commerce sales saw significant growth, with owned websites increasing 66% and third-party sales up 44%. Gross margin improved to 52.8%, while operating income rose to $18 million. The company reduced operating expenses by 26% year-over-year, achieving a net income of $16 million or $0.31 per diluted share. Despite challenges, Fossil expects e-commerce strength to continue, although overall sales may decline 30% to 40% in Q4.
Fossil Group (NASDAQ: FOSL) will report its third-quarter financial results for the period ending on October 3, 2020, after market close on November 11, 2020. Following the report, a conference call is scheduled for 5:00 p.m. ET the same day, available live on the company's investor relations website. Fossil Group specializes in design, marketing, and distribution of lifestyle accessories including fashion watches, jewelry, and wearables.
Fossil Group, Inc. (NASDAQ: FOSL) reported Q2 2020 results with net sales of $259 million, a decline of 48% year-over-year due to COVID-19 impacts. E-commerce sales rose significantly, with owned websites increasing by 138%. Gross margin improved to 54.3%, up 140 basis points from the previous year. Operating loss was $37 million compared to a $2 million profit last year. The company successfully reduced operating expenses by $86 million, achieving total liquidity of $311 million. Future guidance indicates a further sales decline of 35% to 45% in Q3.
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.