Continued Operational and Financial Progress under TAG Plan Maintains Full Year 2024 Outlook RICHARDSON, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal second quarter ended June 29, 2024. Second Quarter Summary Second quarter worldwide net sales decreased to $260 million, down 19% on a reported basis and 18% in constant currency, which includes five points of negative impact related to the Company's strategic actions to exit the sm ...

RICHARDSON, Texas, July 25, 2024 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) announced today that it will report second quarter 2024 financial results after market close on Thursday, August 8, 2024, followed by a conference call to discuss the results at 5:00 p.m. ET the same day. The call can be accessed live on the Company's investor relations website at www.fossilgroup.com/investors and will also be archived for replay. About Fossil Group, Inc. Fossil Group, Inc. is a global design, marketing, ...

"On behalf of the Board and management team, I want to thank Sunil for his leadership and dedication over the past four years," said Jeffrey N. Boyer, Interim CEO. "We wish him well as he pursues the next chapter in his career." Fossil today said that it is affirming its 2024 outlook, including worldwide net sales of approximately $1.2 billion, adjusted operating margin1 in the range of -3% to -5% and positive free cash flow2, inclusive of tax refunds of approximately $57 million, which were received in the ...

Believe it or not, electric vehicles do outperform their fossil fuel counterparts in some ways. From the perspective of sheer performance, that most obviously manifests as dramatically faster acceleration times. EV stocks to buy also outperform their fossil fuel counterparts in several important ways. I'll explain that in more depth throughout the article but it essentially all boils down to pricing. The average cost of an electric vehicle was greater than $55,000 in April 2024. The average price for a new ...

Rivian (RIVN) Leader in the EV space, Rivian (NASDAQ: RIVN), is one of the largest American EV companies and has the potential to be one of the biggest EV companies in the world. Now, it's trading at a discount, making it an even more attractive buy. The focus is on expanding their products and working on the highly anticipated R2 model. Rivian is also building a $5 billion production facility in Georgia. Increasing productive capacities to be fierce rivals with other EV companies represents the company's g ...

Despite these positive developments, Fossil faces notable challenges, as outlined in the report. The company reported significant sales declines in key segments, such as licensed fashion watches and leather products, which make up over 40% of its revenues. The strategic decision to exit unprofitable retail locations and the smartwatch category is expected to hurt revenues by approximately $100 million in 2024. High debt levels and interest expenses also pose financial strains. Fossil shares are currently tr ...

Company Participants Operator Now I'll turn the call over to Christine Greany of The Blueshirt Group to begin. In addition, Fossil assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. During today's call, we will refer to constant currency results. Please note that you can find a reconciliation of actual results to constant currency results and other information regarding non-GAAP fin ...

Exhibit 99.1 FOSSIL GROUP, INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Maintains Full Year 2024 Outlook Richardson, TX, MAY 8, 2024 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended March 30, 2024. First Quarter Summary • First quarter worldwide net sales decreased to $255 million, down 22% on a reported basis and 21% in constant currency, reflecting five points of impact related to the Company’s strategic actions to exit the smartwatch ...

COCONUT CREEK, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- Kanen Wealth Management, LLC, ("KWM") owner of approximately 4% of the Fossil Group, Inc.'s (NASDAQ:FOSL) 7% Senior Notes due 2026 (NASDAQ:FOSLL), issues the following open letter to the Company's Directors: Dear FOSL Directors, Fossil is a $1 bill + co., and a solid brand with ample opportunity, one that enjoys high gross margins in excess of 50%. Judging by the actions of the board and management, there is a lack of urgency in executing its strategic ...

Fossil Group, Inc. (NASDAQ:FOSL) Q4 2023 Results Conference Call March 13, 2024 5:00 PM ET Company Participants Christine Greany - The Blueshirt Group Jeff Boyer - Interim Chief Operating Officer Sunil Doshi - Chief Financial Officer Operator Good afternoon, ladies and gentlemen, and welcome to the Fossil Group Fourth Quarter and Full Year 2023 Earnings Call. At this time, all parties are in a listen-only mode. This conference call is being recorded and may not be reproduced in whole or in part without writ ...