Fossil Group Q3 2023 net sales down 21% to $344M; operating loss of $46M

Fossil Group, Inc.

2023-Q3 EPS reported -$2.47 revenue$991,123,000

Net sales $344M, down 21% YoY; direct-to-consumer channels down 12%, wholesale down 25%.
Operating loss of $46M vs operating income of $22M a year ago; adjusted operating loss of $31M.
Inventory $327M, down 28% YoY; total liquidity $140M at quarter end.
FOSSIL brand sales declined 14% in constant currency, with smartwatches and leathers down more.
On track for ~$100M annualized cost savings in 2023 under TAG Plan; targeting $300M by 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fossil Group, Inc. reported financial results for the fiscal third quarter ended September 30, 2023.

Period: the fiscal third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 8, 2023, Fossil Group, Inc. (the “Company”) issued a press release announcing financial results for the fiscal quarter ended September 30, 2023.

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Fossil Group, Inc. filing history →

Source: SEC EDGAR

accession 0000883569-23-000034

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