Fossil's Q3 Loss Narrows Y/Y, TAG Plan Drives Margin Growth

For the third quarter of 2024, Fossil Group, Inc. (FOSL) incurred an adjusted net loss per share of 51 cents, narrower than the adjusted loss of 93 cents per share in the prior-year period. Revenues totaled $287.8 million, reflecting a 16.4% decrease from $344.1 million a year ago. This was largely driven by weakness across categories and channels, and by strategic moves such as exiting the smartwatch segment and closing certain retail locations, which impacted revenue by six percentage points. Fossil's qua ...