Fossil Group, Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Fossil Group, Inc. has filed its quarterly report (10-Q) for the period ending March 30, 2024.</b>

AI Summary

Fossil Group, Inc. (FOSL) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Fossil Group, Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of the fiscal year. The company's principal executive offices are located in Richardson, Texas. Fossil Group, Inc. is listed under the SIC code 3873 for Watches, Clocks, Clockwork Operated Devices/Parts. The filing was made on May 9, 2024.

Why It Matters

For investors and stakeholders tracking Fossil Group, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational details for Fossil Group, Inc. during the first quarter of 2024. Understanding the company's financial health and strategic positioning is crucial for assessing its current market standing and future prospects.

Risk Assessment

Risk Level: low — Fossil Group, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial disclosures or events that would indicate a high-risk profile based solely on this document.

Analyst Insight

Monitor future filings for detailed financial results, segment performance, and any strategic updates that may impact Fossil Group's market position.

Key Numbers

• 2024-03-30 — Period of Report (Conformed period of report)
• 2024-05-09 — Filing Date (Date the report was filed)
• 3873 — SIC Code (Standard Industrial Classification code)
• 001-41040 — SEC File Number (SEC file number for the company)

Key Players & Entities

• Fossil Group, Inc. (company) — Filer and subject of the report
• 901 S CENTRAL EXPRESSWAY (location) — Business and mailing address
• RICHARDSON (location) — City of business and mailing address
• TX (location) — State of business and mailing address
• 75080 (location) — ZIP code of business and mailing address
• 9722342525 (phone_number) — Business phone number
• FOSSIL INC (company) — Former company name
• DE (location) — State of incorporation

FAQ

Industry Context

Fossil Group, Inc. operates within the watch and accessories industry, a sector influenced by fashion trends, consumer spending, and global supply chain dynamics.

Regulatory Implications

The filing is a standard SEC Form 10-Q, which requires public companies to report their financial performance on a quarterly basis, adhering to US GAAP and SEC regulations.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze any disclosed segment revenues and profitability to understand business unit performance.
3. Compare key financial metrics with previous periods to identify trends and performance changes.

Key Dates

• 2024-03-30: Period End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the standard quarterly update for Fossil Group, Inc. (FOSL) for the period ending March 30, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share FOSL The Nasdaq Stock Market

Filing Documents

• fosl-20240330.htm (10-Q) — 1581KB
• fosl-q103302024xex311.htm (EX-31.1) — 10KB
• fosl-q103302024xex312.htm (EX-31.2) — 10KB
• fosl-q103302024xex321.htm (EX-32.1) — 6KB
• fosl-q103302024xex322.htm (EX-32.2) — 6KB
• fosl-20240330_g1.gif (GRAPHIC) — 1KB
• 0000883569-24-000023.txt (&nbsp;) — 9016KB
• fosl-20240330.xsd (EX-101.SCH) — 59KB
• fosl-20240330_cal.xml (EX-101.CAL) — 74KB
• fosl-20240330_def.xml (EX-101.DEF) — 299KB
• fosl-20240330_lab.xml (EX-101.LAB) — 727KB
• fosl-20240330_pre.xml (EX-101.PRE) — 531KB
• fosl-20240330_htm.xml (XML) — 1611KB

Financial Statements

Financial Statements 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Results of Operations 28 Liquidity and Capital Resources 34

Forward-Looking Statements

Forward-Looking Statements 37 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37 PART II Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 5. Other Information 38 Item 6. Exhibits 39

SIGNATURES

SIGNATURES 40 Trademarks, service marks, trade names and copyrights We use our FOSSIL, MICHELE, RELIC, SKAGEN and ZODIAC trademarks, as well as other trademarks, on watches, our FOSSIL and SKAGEN trademarks on jewelry, and our FOSSIL trademark on leather goods and other fashion accessories in the U.S. and in a significant number of foreign countries. We also use FOSSIL, SKAGEN, WATCH STATION INTERNATIONAL and WSI as trademarks on retail stores and FOSSIL, SKAGEN, WATCH STATION INTERNATIONAL, WSI, ZODIAC, and MICHELE as trademarks on online e-commerce sites. This filing may also contain other trademarks, service marks, trade names and copyrights of ours or of other companies with whom we have, for example, licensing agreements to produce, market and distribute products. Solely for convenience, the trademarks, service marks, trade names and copyrights referred to or incorporated by reference into this report may be listed without the TM, SM, and symbols, as applicable, but we will assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors, if any, to these trademarks, service marks, trade names and copyrights.

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements FOSSIL GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS UNAUDITED IN THOUSANDS March 30, 2024 December 30, 2023 Assets Current assets: Cash and cash equivalents $ 112,889 $ 117,197 Accounts receivable - net of allowances for doubtful accounts of $ 14,465 and $ 12,616 , respectively 134,362 187,942 Inventories 224,137 252,834 Prepaid expenses and other current assets 165,875 152,717 Total current assets 637,263 710,690 Property, plant and equipment - net of accumulated depreciation of $ 379,768 and $ 384,688 , respectively 54,435 57,244 Operating lease right-of-use assets 142,292 151,000 Intangible and other assets-net 56,982 59,096 Total long-term assets 253,709 267,340 Total assets $ 890,972 $ 978,030 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 142,908 $ 147,161 Short-term debt 482 480 Accrued expenses: Current operating lease liabilities 40,257 43,565 Compensation 37,252 44,789 Royalties 6,333 15,880 Customer liabilities 32,143 37,584 Transaction taxes 5,917 10,412 Other 22,641 27,811 Income taxes payable 7,491 14,795 Total current liabilities 295,424 342,477 Long-term income taxes payable 18,975 20,409 Deferred income tax liabilities 681 698 Long-term debt 202,866 206,983 Long-term operating lease liabilities 129,131 137,644 Other long-term liabilities 17,322 18,081 Total long-term liabilities 368,975 383,815 Commitments and contingencies (Note 13) Stockholders' equity: Common stock, 52,492 and 52,487 shares issued and outstanding at March 30, 2024 and December 30, 2023 respectively 525 525 Additional paid-in capital 312,717 311,709 Retained (deficit) earnings ( 5,893 ) 18,403 Accumulated other comprehensive income (loss) ( 78,264 ) ( 76,405 ) Total Fossil Group, Inc. stockholders' equity 229,085 254,232 Noncontrolling interests ( 2,512 ) ( 2,494 ) Total stockholders' equity 226,573 251,738 Total liabilities and stockholders' equity $ 890,972 $ 978,0

View Full Filing

View this 10-Q filing on SEC EDGAR