Fossil Group Files Q3 2024 10-Q

TL;DR

Fossil Group's Q3 2024 10-Q is in. Check financials.

AI Summary

Fossil Group, Inc. filed its 10-Q for the period ending September 28, 2024. The company's fiscal year ends on December 31st. Key financial data points and reporting dates are included in this filing.

Why It Matters

This filing provides investors with the latest financial performance and position of Fossil Group, Inc. as of late September 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-09-28 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-11-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Specifies the end date of Fossil Group's fiscal year.)

Key Players & Entities

• Fossil Group, Inc. (company) — Filer of the 10-Q
• 2024-09-28 (date) — End of the reporting period
• 2024-11-07 (date) — Filing date
• 9722342525 (phone_number) — Business phone number

FAQ

Key Financial Figures

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

Filing Documents

• fosl-20240928.htm (10-Q) — 2300KB
• fosl-q309282024xex311.htm (EX-31.1) — 10KB
• fosl-q309282024xex312.htm (EX-31.2) — 10KB
• fosl-q309282024xex321.htm (EX-32.1) — 6KB
• fosl-q309282024xex322.htm (EX-32.2) — 6KB
• fosl-20240928_g1.gif (GRAPHIC) — 1KB
• 0000883569-24-000078.txt ( ) — 10948KB
• fosl-20240928.xsd (EX-101.SCH) — 54KB
• fosl-20240928_cal.xml (EX-101.CAL) — 75KB
• fosl-20240928_def.xml (EX-101.DEF) — 293KB
• fosl-20240928_lab.xml (EX-101.LAB) — 699KB
• fosl-20240928_pre.xml (EX-101.PRE) — 522KB
• fosl-20240928_htm.xml (XML) — 2312KB

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 30 Results of Operations 32 Liquidity and Capital Resources 43

Forward-Looking Statements

Forward-Looking Statements 45 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 46 PART II Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 47 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 Item 5. Other Information 47 Item 6. Exhibits 48

SIGNATURES

SIGNATURES 49 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 September 28, 2024 December 30, 2023 Assets Current assets: Cash and cash equivalents $ 106,308 $ 117,197 Accounts receivable - net of allowances for doubtful accounts of $ 15,602 and $ 12,616 , respectively 173,700 187,942 Inventories 226,389 252,834 Prepaid expenses and other current assets 69,460 152,717 Total current assets 575,857 710,690 Property, plant and equipment - net of accumulated depreciation of $ 362,279 and $ 384,688 , respectively 45,215 57,244 Operating lease right-of-use assets 135,506 151,000 Intangible and other assets-net 55,830 59,096 Total long-term assets 236,551 267,340 Total assets $ 812,408 $ 978,030 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 159,002 $ 147,161 Short-term debt 2,254 480 Accrued expenses: Current operating lease liabilities 40,434 43,565 Compensation 36,855 44,789 Royalties 15,229 15,880 Customer liabilities 24,816 37,584 Transaction taxes 7,179 10,412 Other 22,220 27,811 Income taxes payable 9,534 14,795 Total current liabilities 317,523 342,477 Long-term income taxes payable 19,786 20,409 Deferred income tax liabilities 719 698 Long-term debt 173,444 206,983 Long-term operating lease liabilities 120,648 137,644 Other long-term liabilities 18,380 18,081 Total long-term liabilities 332,977 383,815 Commitments and contingencies (Note 13) Stockholders' equity: Common stock, 53,154 and 52,487 shares issued and outstanding at September 28, 2024 and December 30, 2023, respectively 532 525 Additional paid-in capital 314,133 311,709 Retained (deficit) earnings ( 76,709 ) 18,403 Accumulated other comprehensive income (loss) ( 73,579 ) ( 76,405 ) Total Fossil Group, Inc. stockholders' equity 164,377 254,232 Noncontrolling interests ( 2,469 ) ( 2,494 ) Total stockholders' equity 161,908 251,738 Total liabilities and stockholders' equity $ 812

View Full Filing

View this 10-Q filing on SEC EDGAR