Fossil Group, Inc. reported first-quarter 2026 net sales of $224.8 million, down from $233.3 million a year earlier, as store rationalization, weaker leather and jewelry, and the exit from smartwatches weighed on revenue. Despite this, operating results improved, with operating income of $12.0 million versus a prior-year loss of $6.7 million, driven by lower restructuring costs and SG&A savings under its Turnaround Plan.
Gross margin slipped to 59.9% from 61.3%, reflecting higher tariffs and minimum royalty timing, partly offset by $4.0 million of IEEPA tariff refunds. After $8.5 million of interest expense on newly restructured debt and higher borrowing costs, Fossil posted a small net loss of $0.8 million, much narrower than the $17.6 million loss a year earlier.
Cash and cash equivalents were $81.4 million as of April 4, 2026, against long-term debt of $193.0 million and revolving credit facility borrowings of $33.0 million. Operating cash flow remained negative at $(21.8) million as the company continued to fund restructuring, interest and working capital needs while executing its multi-year Turnaround Plan focused on profitable growth, operating model optimization and debt reduction.
Fossil Group, Inc. reported first-quarter 2026 net sales of $224.8 million, down from $233.3 million a year earlier, as store rationalization, weaker leather and jewelry, and the exit from smartwatches weighed on revenue. Despite this, operating results improved, with operating income of $12.0 million versus a prior-year loss of $6.7 million, driven by lower restructuring costs and SG&A savings under its Turnaround Plan.
Gross margin slipped to 59.9% from 61.3%, reflecting higher tariffs and minimum royalty timing, partly offset by $4.0 million of IEEPA tariff refunds. After $8.5 million of interest expense on newly restructured debt and higher borrowing costs, Fossil posted a small net loss of $0.8 million, much narrower than the $17.6 million loss a year earlier.
Cash and cash equivalents were $81.4 million as of April 4, 2026, against long-term debt of $193.0 million and revolving credit facility borrowings of $33.0 million. Operating cash flow remained negative at $(21.8) million as the company continued to fund restructuring, interest and working capital needs while executing its multi-year Turnaround Plan focused on profitable growth, operating model optimization and debt reduction.
Fossil Group reported first quarter 2026 net sales of $224.8 million, down 3.6% year over year, but delivered a sharp improvement in profitability. Gross margin was 59.9%, and operating income swung to a $12 million profit with a 5.4% operating margin versus a loss a year ago.
Operating expenses fell 18.1% to $122.7 million, helped by lower restructuring costs and savings from turnaround efforts. Net loss narrowed to $0.8 million, or $0.01 per diluted share, while adjusted EBITDA rose to $14.5 million, or 6.5% of net sales.
The company ended the quarter with $81.4 million of cash and total liquidity of $109.5 million, against total debt of $195.3 million. Management reiterated full-year 2026 guidance, expecting worldwide net sales to decline 4%–6%, adjusted operating margin between 3% and 5%, and free cash flow around break-even.
Fossil Group reported first quarter 2026 net sales of $224.8 million, down 3.6% year over year, but delivered a sharp improvement in profitability. Gross margin was 59.9%, and operating income swung to a $12 million profit with a 5.4% operating margin versus a loss a year ago.
Operating expenses fell 18.1% to $122.7 million, helped by lower restructuring costs and savings from turnaround efforts. Net loss narrowed to $0.8 million, or $0.01 per diluted share, while adjusted EBITDA rose to $14.5 million, or 6.5% of net sales.
The company ended the quarter with $81.4 million of cash and total liquidity of $109.5 million, against total debt of $195.3 million. Management reiterated full-year 2026 guidance, expecting worldwide net sales to decline 4%–6%, adjusted operating margin between 3% and 5%, and free cash flow around break-even.
Miller Value Partners, LLC and William H. Miller IV report beneficial ownership of 2,425,185 shares of Fossil Group, Inc. common stock, equal to 4.156% of the class. The filing states these shares are owned by clients of Miller Value Partners and that Mr. Miller is deemed beneficial owner as control person. The Schedule 13G/A amendment is signed May 4, 2026 and includes a Power of Attorney effective July 23, 2024.
Miller Value Partners, LLC and William H. Miller IV report beneficial ownership of 2,425,185 shares of Fossil Group, Inc. common stock, equal to 4.156% of the class. The filing states these shares are owned by clients of Miller Value Partners and that Mr. Miller is deemed beneficial owner as control person. The Schedule 13G/A amendment is signed May 4, 2026 and includes a Power of Attorney effective July 23, 2024.
Fossil Group, Inc. filed Amendment No. 1 to its 2025 annual report to add required Part III information on directors, executive compensation, ownership and auditor fees, and to update the common shares outstanding to 59,076,605 as of April 25, 2026.
The filing details a largely refreshed leadership team, including CEO Franco Fogliato and several new directors, and explains pay-for-performance programs combining salary, annual cash bonuses tied to net sales and adjusted operating income, and equity awards under the 2024 Long-Term Incentive Plan. It also outlines severance and change-in-control protections, stock ownership guidelines, insider trading and ethics policies, and Deloitte & Touche LLP audit fees of $3.5 million for fiscal 2025.
Fossil Group, Inc. filed Amendment No. 1 to its 2025 annual report to add required Part III information on directors, executive compensation, ownership and auditor fees, and to update the common shares outstanding to 59,076,605 as of April 25, 2026.
The filing details a largely refreshed leadership team, including CEO Franco Fogliato and several new directors, and explains pay-for-performance programs combining salary, annual cash bonuses tied to net sales and adjusted operating income, and equity awards under the 2024 Long-Term Incentive Plan. It also outlines severance and change-in-control protections, stock ownership guidelines, insider trading and ethics policies, and Deloitte & Touche LLP audit fees of $3.5 million for fiscal 2025.
Fossil Group, Inc. reported that Chief Commercial Officer Joe Martin has decided to resign to pursue other interests. His last day with the company will be May 8, 2026.
Chief Executive Officer Franco Fogliato has immediately assumed Martin’s responsibilities, having previously led the company’s commercial sales organization. Fossil Group has begun a search for a successor to the Chief Commercial Officer role.
Fossil Group, Inc. reported that Chief Commercial Officer Joe Martin has decided to resign to pursue other interests. His last day with the company will be May 8, 2026.
Chief Executive Officer Franco Fogliato has immediately assumed Martin’s responsibilities, having previously led the company’s commercial sales organization. Fossil Group has begun a search for a successor to the Chief Commercial Officer role.
Fogliato Franco reported acquisition or exercise transactions in this Form 4 filing.
Fossil Group, Inc. CEO Franco Fogliato reported an equity compensation grant in the form of 750,000 Performance Stock Units, each representing a contingent right to receive one share of Fossil common stock. Following this award, he directly holds 930,000 such derivative-based equity units.
The award consists of performance restricted stock units that vest into common shares on a 1-for-1 basis in three equal yearly installments under the company’s 2024 Long-Term Incentive Plan. Each annual vesting can increase the shares delivered by 20%, 30%, or 50%, depending on the average fair market value of Fossil common stock over the last thirty trading days of the prior calendar year, using price thresholds of $4.25–$5.99, $6.00–$7.74, and $7.75 or above, respectively.
Fogliato Franco reported acquisition or exercise transactions in this Form 4 filing.
Fossil Group, Inc. CEO Franco Fogliato reported an equity compensation grant in the form of 750,000 Performance Stock Units, each representing a contingent right to receive one share of Fossil common stock. Following this award, he directly holds 930,000 such derivative-based equity units.
The award consists of performance restricted stock units that vest into common shares on a 1-for-1 basis in three equal yearly installments under the company’s 2024 Long-Term Incentive Plan. Each annual vesting can increase the shares delivered by 20%, 30%, or 50%, depending on the average fair market value of Fossil common stock over the last thirty trading days of the prior calendar year, using price thresholds of $4.25–$5.99, $6.00–$7.74, and $7.75 or above, respectively.
Fossil Group, Inc. CFO Randy J. Greben received a compensation-related grant of performance stock units that can settle in common shares over time based on vesting and performance conditions. On the same date, 33,869 common shares were withheld at $5.40 per share to cover tax obligations, which is not an open‑market sale. After these transactions, he directly holds 165,112 common shares and 295,000 performance and restricted stock units, including 100,000 restricted stock units that remain subject to a vesting schedule.
Fossil Group, Inc. CFO Randy J. Greben received a compensation-related grant of performance stock units that can settle in common shares over time based on vesting and performance conditions. On the same date, 33,869 common shares were withheld at $5.40 per share to cover tax obligations, which is not an open‑market sale. After these transactions, he directly holds 165,112 common shares and 295,000 performance and restricted stock units, including 100,000 restricted stock units that remain subject to a vesting schedule.
Fossil Group, Inc. granted Chief Brand Officer Melissa B. Lowenkron 150,000 performance restricted stock units (PRSUs) on April 15, 2026 under the company’s 2024 Long-Term Incentive Plan. Each PRSU represents a contingent right to receive one share of common stock.
The 150,000 PRSUs will vest over three years in equal yearly installments on a 1-for-1 basis, with potential increases based on the average fair market value of the stock before each vesting date. Separately, 11,641 shares of common stock were withheld at $5.40 per share to cover tax obligations, leaving Lowenkron with 91,766 common shares held directly. This tax withholding is not an open-market sale.
Fossil Group, Inc. granted Chief Brand Officer Melissa B. Lowenkron 150,000 performance restricted stock units (PRSUs) on April 15, 2026 under the company’s 2024 Long-Term Incentive Plan. Each PRSU represents a contingent right to receive one share of common stock.
The 150,000 PRSUs will vest over three years in equal yearly installments on a 1-for-1 basis, with potential increases based on the average fair market value of the stock before each vesting date. Separately, 11,641 shares of common stock were withheld at $5.40 per share to cover tax obligations, leaving Lowenkron with 91,766 common shares held directly. This tax withholding is not an open-market sale.
Fossil Group, Inc. Chief Commercial Officer Joe T. Martin reported an equity compensation grant and related tax withholding. He received performance-based restricted stock units (PRSUs) that convert into common shares over three yearly installments under the company’s 2024 Long-Term Incentive Plan, rather than through an open-market purchase.
The PRSUs vest 1-for-1 into common stock, with extra shares added if the average share price over the prior calendar year is higher. Vesting installments increase by 20% if the average price is between $4.25 and $5.99, by 30% between $6.00 and $7.74, and by 50% at or above $7.75. On the same date, 21,716 common shares were withheld at $5.40 per share to cover tax obligations, leaving Martin with 194,045 directly held common shares, including 86,387 time-based RSUs subject to a vesting schedule.
Fossil Group, Inc. Chief Commercial Officer Joe T. Martin reported an equity compensation grant and related tax withholding. He received performance-based restricted stock units (PRSUs) that convert into common shares over three yearly installments under the company’s 2024 Long-Term Incentive Plan, rather than through an open-market purchase.
The PRSUs vest 1-for-1 into common stock, with extra shares added if the average share price over the prior calendar year is higher. Vesting installments increase by 20% if the average price is between $4.25 and $5.99, by 30% between $6.00 and $7.74, and by 50% at or above $7.75. On the same date, 21,716 common shares were withheld at $5.40 per share to cover tax obligations, leaving Martin with 194,045 directly held common shares, including 86,387 time-based RSUs subject to a vesting schedule.
Fossil Group, Inc. director Wendy Lee Schoppert received an equity grant of 21,929 shares of common stock at a reference value of $4.68 per share. Following this grant, she directly owns 96,294 shares of Fossil common stock. A portion of her holdings consists of 33,043 Restricted Stock Units, which typically vest over time and convert into shares as service conditions are met.
Fossil Group, Inc. director Wendy Lee Schoppert received an equity grant of 21,929 shares of common stock at a reference value of $4.68 per share. Following this grant, she directly owns 96,294 shares of Fossil common stock. A portion of her holdings consists of 33,043 Restricted Stock Units, which typically vest over time and convert into shares as service conditions are met.