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) has launched an underwritten public offering of $125 million in senior notes due 2026. A 30-day option for underwriters to purchase an additional $5 million is included. The company plans to utilize net proceeds to repay existing borrowings under its Term Credit Agreement. The offering is conducted under an effective registration statement with the SEC. The book-running managers for this offering are B. Riley Securities, Inc. and others. This announcement is significant for management of debt and financial stability.
Fossil Group, Inc. (NASDAQ: FOSL) reported a strong second quarter for fiscal 2021, achieving worldwide net sales of $411 million, a 59% increase compared to the same period last year. The Americas led this growth with a 64% rise, while digital sales constituted 41% of total sales. Operating income turned positive at $14 million, up from a loss of $37 million a year ago. The company has raised its 2021 outlook, anticipating a 14% to 17% growth in net sales. Total liquidity stands at $294 million, with cash and cash equivalents of $252 million.
Fossil Group, Inc. (NASDAQ: FOSL) will announce its financial results for Q2 2021 after market close on August 11, 2021. A conference call is set for 5:00 p.m. ET the same day to discuss these results, accessible via the company’s investor relations website. Fossil Group specializes in lifestyle accessories, offering products across various categories, including watches and handbags, through a wide distribution network.
Fossil Group (NASDAQ: FOSL) announced the appointment of Holly Briedis as Executive Vice President and Chief Digital Officer. With over 15 years of experience, including her tenure at McKinsey & Company, Holly will spearhead Fossil's digital initiatives to enhance its transformation into a digital-first retailer. CEO Kosta Kartsotis emphasized the importance of digital growth in modern retail, asserting that Holly's expertise will benefit the company significantly. Briedis expressed enthusiasm for the potential to drive meaningful growth and collaborate with the talented team at Fossil.
Fossil Group announced its participation in the Baird Global Consumer, Technology & Services Virtual Conference on June 9, 2021. The management team will engage in a fireside chat at 12:50 p.m. Eastern Time and conduct one-on-one meetings throughout the day. Investors can access the live webcast and an archived replay via the Fossil Group investor relations website.
Fossil Group specializes in lifestyle accessories, including watches, smartwatches, and jewelry, through its owned and licensed brands.
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.