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Fossil Group (FOSL)
NASDAQ:FOSL
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 45.67%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant efforts in cost management and operational efficiency, leading to improvements in gross margins and reductions in operating losses. However, the substantial decline in net sales, challenges with licensed brands, and a revised negative outlook for the year present notable concerns.Company Guidance
During the Fossil Group's Q3 2024 earnings call, new CEO Franco Fogliato outlined strategic priorities aimed at revitalizing the company. Key focus areas include redefining and simplifying the core business, optimizing the operating model, and enhancing brand relevance. The company plans to reignite growth through a new brand platform, pricing architecture, and go-to-market strategy. Near-term actions include appointing a global brand ambassador and adjusting promotional strategies to improve gross margin, despite potential short-term sales headwinds. Financially, Fossil reported Q3 net sales of $288 million, a 16% decline in constant currency, with a gross margin improvement of 240 basis points to 49.4%. The company closed 7 stores, reducing its total by 17% year-over-year, and improved its adjusted operating loss by 39% compared to the previous year. For the full year, Fossil anticipates net sales of $1.1 billion and an adjusted operating margin loss between 6% and 8%, while expecting positive cash flow in 2024.Gross Margin Expansion
Gross margin expanded 240 basis points to 49.4% primarily due to the exit of connected products and benefits from retail pricing, promotions, and account renegotiations.
SG&A Expense Reduction
SG&A expenses were reduced by $31 million to $161 million, marking a 16% decrease compared to last year due to cost takeout initiatives.
Store Closures and Cost Management
Closed 7 stores in Q3, with a total reduction of 17% compared to a year ago, aligning with natural lease expirations and minimal closing costs.
Improvement in Adjusted Operating Loss
Narrowed Q3 adjusted operating loss to $19 million, improving by 39% from the previous year's $31 million loss.
Asset Monetization Progress
Completed sale of a building in France, generating $8 million in net proceeds, and progress on the sale leaseback of a distribution center in Germany expected to close in Q1 next year.
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FOSL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FOSL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $1.27 | $1.16 | -8.66% |
| Aug 08, 2024 | $1.14 | $1.11 | -2.63% |
| May 08, 2024 | $0.97 | $0.92 | -5.15% |
| Mar 13, 2024 | $0.87 | $0.81 | -6.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Fossil Group (FOSL) report earnings?
Fossil Group (FOSL) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Fossil Group (FOSL) earnings time?
Fossil Group (FOSL) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FOSL EPS forecast?
Currently, no data Available
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