Fossil Group Q1 net sales $255M, down 22%; operating loss narrows to $29M

Fossil Group, Inc.

2024-Q1 EPS reported -$0.46 revenue$254,884,000

Net sales $255M, down 22% reported (21% constant currency); 5 pts impact from smartwatch exit and store optimization.
Gross margin expanded 300 bps to 52.4%; SG&A down 20% to $152M.
Operating loss $29M vs $37M YoY; adjusted operating loss $19M vs $25M.
Inventory down 33% to $224M; cash $113M; $57M US tax refund received post-quarter.
Maintains full year 2024 outlook; TAG Plan driving margin gains; strategic review ongoing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fossil Group, Inc. reported first quarter ended March 30, 2024 results: revenue decreased to $255 million.

Period: first quarter ended March 30, 2024
Revenue: decreased to $255 million
Result: reported results

Exact text from the filing

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 category and optimize its retail store portfolio.

View on SEC.gov

1447 earnings releases filed in the last 30 days. Browse all earnings releases →

Fossil Group, Inc. filing history →

Source: SEC EDGAR

accession 0000883569-24-000020

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.