---
schema_version: "secwatch.filing_event.v1"
accession: "0000883569-24-000020"
form_type: "8-K"
ticker: "FOSL"
cik: "0000883569"
company_name: "Fossil Group, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T14:56:09.421863+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000883569-24-000020
- form_type: 8-K
- ticker: FOSL
- cik: 0000883569
- company_name: Fossil Group, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/883569/000088356924000020/0000883569-24-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/883569/000088356924000020/fosl-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000883569-24-000020
- JSON: https://secwatch.observer/filing/0000883569-24-000020.json
- Plain text: https://secwatch.observer/filing/0000883569-24-000020.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/883569/000088356924000020/0000883569-24-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.