Fossil Group Returns to Profitability and Raises Full-Year Guidance
Fossil Group (FOSL) reported a significant turnaround in its third fiscal quarter, returning to profitability after several years of losses. The watchmaker posted an operating income of $25.3 million, a sharp reversal from the $21.7 million loss recorded during the same period last year. Net sales saw a slight increase of 0.4% to $271.2 million, marking the company's first year-over-year sales growth since early 2022. CEO Franco Fogliato attributed the recovery to an aggressive downsizing strategy, which included closing stores and shifting focus from heavy promotions toward full-price sales. While direct-to-consumer sales fell by 5.9% due to these restructuring efforts, the company saw strong growth in Asia, particularly in India, with net sales rising 15.1%. Based on these results, Fossil raised its full-year net sales guidance and expects positive free cash flow by year-end.
Tickers: $FOSL
Topics: earnings report profitability sales growth turnaround strategy
Part of the story P3 Health Reports Q3 2026 Profitability Turnaround and Increased Full-Year Guidance (7 articles)