Zacks Initiates Coverage of Fossil With Neutral Recommendation

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 ...