---
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"
generated_at: "2026-06-04T22:39:46.191336+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Fossil Group reports FY2023 operating loss $143M, sales down 16%; CEO Kartsotis steps down

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-033924
- JSON: https://secwatch.observer/filing/0001104659-24-033924.json
- Plain text: https://secwatch.observer/filing/0001104659-24-033924.txt

## Key facts
- Earnings Releases
  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.
  - Period: fourth quarter and fiscal year ended December 30, 2023
  - 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
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm
- Executive change
  Jeffrey N. Boyer was appointed as Member of the Board of Directors at Fossil Group, Inc..
  - Action: appointed
  - Role: Member of the Board of Directors
  source text: and as a member of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm
- Executive change
  Jeffrey N. Boyer was appointed as Interim Chief Executive Officer at Fossil Group, Inc..
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: the Board has appointed Jeffrey N. Boyer as interim Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm
- Executive change
  Kosta N. Kartsotis departed as Chief Executive Officer at Fossil Group, Inc..
  - Action: stepping down
  - Role: Chief Executive Officer
  source text: Kosta N. Kartsotis is stepping down from his position as Chief Executive Officer and a member of the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm
- Executive change
  Kevin Mansell was appointed as Chairman of the Board at Fossil Group, Inc..
  - Action: appointed
  - Role: Chairman of the Board
  source text: appointed Kevin Mansell as Chairman of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/883569/000110465924033924/0001104659-24-033924-index.htm

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