{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-033924","form_type":"8-K","ticker":"FOSL","cik":"0000883569","company_name":"Fossil Group, Inc.","filed_at":"2024-03-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.131045+00:00","generated_at":"2026-06-04T22:39:46.191336+00:00","sec_items":["2.02","5.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Fossil Group reports FY2023 operating loss $143M, sales down 16%; CEO Kartsotis steps down","bullets":["Q4 net sales $421M, down 16% reported; full year net sales $1,412M, down 16% on reported and constant currency.","Full year operating loss $143M vs prior year loss $1M; adjusted operating loss $92M (6.5% of sales). Diluted loss per share $3.00, adjusted $2.24.","Achieved $125M annualized cost savings under TAG Plan; targeting $300M annualized operating income benefits by end of 2025.","CEO Kartsotis stepped down; Jeffrey Boyer appointed Interim CEO and director; Kevin Mansell becomes Chairman. Search for permanent CEO."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-033924","json":"https://secwatch.observer/filing/0001104659-24-033924.json","markdown":"https://secwatch.observer/filing/0001104659-24-033924.md","text":"https://secwatch.observer/filing/0001104659-24-033924.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/tm248665d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T22:39:46.191336+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"33a57d7518637b3d40a11c1b13d83c15be8732c5","claim":"Fossil Group, Inc. reported fourth quarter and fiscal year ended December 30, 2023 results: revenue Fourth quarter worldwide net sales decreased to $421 million; Full year worldwide net sales decreased to $1,412 million, EPS Full year diluted loss per share was $3.00 and adjusted loss per share was $2.24.","evidence_excerpt":"business model and capital structure with the goal of maximizing shareholder value.” Fourth Quarter and Full Year Summary · Fourth quarter worldwide net sales decreased to $421 million, down 16% on a reported basis and 17% in constant currency, with sales declines across all regions and all channels. · Full year worldwide net sales decreased to $1,412 million,","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter and fiscal year ended December 30, 2023"},{"label":"Revenue","value":"Fourth quarter worldwide net sales decreased to $421 million; Full year worldwide net sales decreased to $1,412 million"},{"label":"EPS","value":"Full year diluted loss per share was $3.00 and adjusted loss per share was $2.24"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"40df2bad80","claim":"Jeffrey N. Boyer was appointed as Member of the Board of Directors at Fossil Group, Inc..","evidence_excerpt":"and as a member of the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Member of the Board of Directors"}],"fact_type":"executive_change"},{"claim_id":"5c860f05fe","claim":"Jeffrey N. Boyer was appointed as Interim Chief Executive Officer at Fossil Group, Inc..","evidence_excerpt":"the Board has appointed Jeffrey N. Boyer as interim Chief Executive Officer","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Interim Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"61368f90ae","claim":"Kosta N. Kartsotis departed as Chief Executive Officer at Fossil Group, Inc..","evidence_excerpt":"Kosta N. Kartsotis is stepping down from his position as Chief Executive Officer and a member of the Board of Directors","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"stepping down"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"bef6389db5","claim":"Kevin Mansell was appointed as Chairman of the Board at Fossil Group, Inc..","evidence_excerpt":"appointed Kevin Mansell as Chairman of the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chairman of the Board"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}