We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fossil Group Inc | NASDAQ:FOSL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0314 | -3.11% | 0.9786 | 0.98 | 1.03 | 1.03 | 0.98 | 1.01 | 483,433 | 00:30:56 |
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
75-2018505
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
901 S. Central Expressway, Richardson, Texas
|
|
75080
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Large accelerated filer
x
|
|
Accelerated filer
o
|
|
|
|
Non-accelerated filer
o
|
|
Smaller reporting company
o
|
(Do not check if a smaller reporting company)
|
|
|
|
|
Page
|
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
|
July 2, 2016
|
|
January 2, 2016
|
||||
Assets
|
|
|
|
|
|
||
Current assets:
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
231,836
|
|
|
$
|
289,275
|
|
Accounts receivable - net of allowances of $60,219 and $84,558, respectively
|
257,053
|
|
|
370,761
|
|
||
Inventories
|
661,748
|
|
|
625,344
|
|
||
Prepaid expenses and other current assets
|
161,723
|
|
|
157,290
|
|
||
Total current assets
|
1,312,360
|
|
|
1,442,670
|
|
||
Property, plant and equipment - net of accumulated depreciation of $430,761 and $398,068, respectively
|
328,004
|
|
|
326,370
|
|
||
Goodwill
|
364,158
|
|
|
359,394
|
|
||
Intangible and other assets-net
|
222,016
|
|
|
227,227
|
|
||
Total long-term assets
|
914,178
|
|
|
912,991
|
|
||
Total assets
|
$
|
2,226,538
|
|
|
$
|
2,355,661
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
||
Current liabilities:
|
|
|
|
|
|
||
Accounts payable
|
$
|
195,259
|
|
|
$
|
208,083
|
|
Short-term and current portion of long-term debt
|
26,302
|
|
|
23,159
|
|
||
Accrued expenses:
|
|
|
|
|
|
||
Compensation
|
53,288
|
|
|
61,496
|
|
||
Royalties
|
21,086
|
|
|
38,359
|
|
||
Co-op advertising
|
18,687
|
|
|
28,918
|
|
||
Transaction taxes
|
25,721
|
|
|
44,425
|
|
||
Other
|
71,109
|
|
|
76,592
|
|
||
Income taxes payable
|
249
|
|
|
8,497
|
|
||
Total current liabilities
|
411,701
|
|
|
489,529
|
|
||
Long-term income taxes payable
|
20,716
|
|
|
20,634
|
|
||
Deferred income tax liabilities
|
70,692
|
|
|
75,165
|
|
||
Long-term debt
|
708,664
|
|
|
785,076
|
|
||
Other long-term liabilities
|
59,251
|
|
|
52,714
|
|
||
Total long-term liabilities
|
859,323
|
|
|
933,589
|
|
||
Commitments and contingencies (Note 13)
|
|
|
|
|
|
||
Stockholders’ equity:
|
|
|
|
|
|
||
Common stock, 48,127 and 48,125 shares issued and outstanding at July 2, 2016 and January 2, 2016, respectively
|
481
|
|
|
481
|
|
||
Additional paid-in capital
|
201,169
|
|
|
187,456
|
|
||
Retained earnings
|
820,771
|
|
|
813,957
|
|
||
Accumulated other comprehensive income (loss)
|
(77,172
|
)
|
|
(80,506
|
)
|
||
Total Fossil Group, Inc. stockholders’ equity
|
945,249
|
|
|
921,388
|
|
||
Noncontrolling interest
|
10,265
|
|
|
11,155
|
|
||
Total stockholders’ equity
|
955,514
|
|
|
932,543
|
|
||
Total liabilities and stockholders’ equity
|
$
|
2,226,538
|
|
|
$
|
2,355,661
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||
Net sales
|
$
|
685,368
|
|
|
$
|
739,975
|
|
|
$
|
1,345,216
|
|
|
$
|
1,465,060
|
|
Cost of sales
|
329,618
|
|
|
330,510
|
|
|
641,129
|
|
|
654,870
|
|
||||
Gross profit
|
355,750
|
|
|
409,465
|
|
|
704,087
|
|
|
810,190
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Selling, general and administrative expenses
|
340,300
|
|
|
332,560
|
|
|
674,233
|
|
|
665,042
|
|
||||
Restructuring charges
|
—
|
|
|
6,471
|
|
|
—
|
|
|
18,559
|
|
||||
Total operating expenses
|
340,300
|
|
|
339,031
|
|
|
674,233
|
|
|
683,601
|
|
||||
Operating income
|
15,450
|
|
|
70,434
|
|
|
29,854
|
|
|
126,589
|
|
||||
Interest expense
|
6,421
|
|
|
5,014
|
|
|
12,420
|
|
|
9,193
|
|
||||
Other income (expense) - net
|
2,542
|
|
|
14,294
|
|
|
4,812
|
|
|
21,479
|
|
||||
Income before income taxes
|
11,571
|
|
|
79,714
|
|
|
22,246
|
|
|
138,875
|
|
||||
Provision for income taxes
|
3,499
|
|
|
22,894
|
|
|
6,778
|
|
|
41,417
|
|
||||
Net income
|
8,072
|
|
|
56,820
|
|
|
15,468
|
|
|
97,458
|
|
||||
Less: Net income attributable to noncontrolling interest
|
2,051
|
|
|
2,172
|
|
|
3,654
|
|
|
4,740
|
|
||||
Net income attributable to Fossil Group, Inc.
|
$
|
6,021
|
|
|
$
|
54,648
|
|
|
$
|
11,814
|
|
|
$
|
92,718
|
|
Other comprehensive income (loss), net of taxes:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Currency translation adjustment
|
$
|
(9,500
|
)
|
|
$
|
5,559
|
|
|
$
|
7,721
|
|
|
$
|
(27,947
|
)
|
Cash flow hedges - net change
|
4,331
|
|
|
(246
|
)
|
|
(6,101
|
)
|
|
(185
|
)
|
||||
Pension plan activity
|
—
|
|
|
—
|
|
|
1,714
|
|
|
—
|
|
||||
Total other comprehensive income (loss)
|
(5,169
|
)
|
|
5,313
|
|
|
3,334
|
|
|
(28,132
|
)
|
||||
Total comprehensive income
|
2,903
|
|
|
62,133
|
|
|
18,802
|
|
|
69,326
|
|
||||
Less: Comprehensive income attributable to noncontrolling interest
|
2,051
|
|
|
2,172
|
|
|
3,654
|
|
|
4,740
|
|
||||
Comprehensive income attributable to Fossil Group, Inc.
|
$
|
852
|
|
|
$
|
59,961
|
|
|
$
|
15,148
|
|
|
$
|
64,586
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic
|
$
|
0.13
|
|
|
$
|
1.12
|
|
|
$
|
0.25
|
|
|
$
|
1.87
|
|
Diluted
|
$
|
0.12
|
|
|
$
|
1.12
|
|
|
$
|
0.24
|
|
|
$
|
1.87
|
|
Weighted average common shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic
|
48,119
|
|
|
48,634
|
|
|
48,125
|
|
|
49,464
|
|
||||
Diluted
|
48,207
|
|
|
48,744
|
|
|
48,229
|
|
|
49,615
|
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||
Operating Activities:
|
|
|
|
|
|
||
Net income
|
$
|
15,468
|
|
|
$
|
97,458
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Depreciation, amortization and accretion
|
49,666
|
|
|
43,650
|
|
||
Stock-based compensation
|
16,463
|
|
|
9,276
|
|
||
Decrease in allowance for returns-net of inventory in transit
|
(15,473
|
)
|
|
(8,438
|
)
|
||
Loss on disposal of assets
|
1,151
|
|
|
2,519
|
|
||
Impairment losses
|
—
|
|
|
6,602
|
|
||
Decrease in allowance for doubtful accounts
|
(4,841
|
)
|
|
(2,006
|
)
|
||
Excess tax benefits from stock-based compensation
|
(5
|
)
|
|
(170
|
)
|
||
Deferred income taxes and other
|
(443
|
)
|
|
6,804
|
|
||
Changes in operating assets and liabilities, net of effect of acquisitions:
|
|
|
|
|
|
||
Accounts receivable
|
139,765
|
|
|
183,993
|
|
||
Inventories
|
(41,107
|
)
|
|
(91,020
|
)
|
||
Prepaid expenses and other current assets
|
(8,656
|
)
|
|
(19,666
|
)
|
||
Accounts payable
|
(17,106
|
)
|
|
(1,040
|
)
|
||
Accrued expenses
|
(54,285
|
)
|
|
(50,563
|
)
|
||
Income taxes payable
|
(8,650
|
)
|
|
(14,898
|
)
|
||
Net cash provided by operating activities
|
71,947
|
|
|
162,501
|
|
||
Investing Activities:
|
|
|
|
|
|
||
Additions to property, plant and equipment
|
(39,313
|
)
|
|
(32,464
|
)
|
||
Decrease (increase) in intangible and other assets
|
786
|
|
|
(1,400
|
)
|
||
Skagen Designs arbitration settlement
|
—
|
|
|
5,968
|
|
||
Misfit working capital settlement
|
788
|
|
|
—
|
|
||
Proceeds from the sale of property, plant and equipment
|
1,955
|
|
|
—
|
|
||
Business acquisitions-net of cash acquired
|
—
|
|
|
(4,820
|
)
|
||
Net investment hedge settlement
|
752
|
|
|
—
|
|
||
Net cash used in investing activities
|
(35,032
|
)
|
|
(32,716
|
)
|
||
Financing Activities:
|
|
|
|
|
|
||
Acquisition of common stock
|
(6,418
|
)
|
|
(218,659
|
)
|
||
Distribution of noncontrolling interest earnings
|
(4,544
|
)
|
|
(5,056
|
)
|
||
Excess tax benefits from stock-based compensation
|
5
|
|
|
170
|
|
||
Debt borrowings
|
424,800
|
|
|
1,482,165
|
|
||
Debt payments
|
(498,848
|
)
|
|
(1,419,161
|
)
|
||
Proceeds from exercise of stock options
|
57
|
|
|
582
|
|
||
Payment for shares of Fossil, S.L.
|
(8,657
|
)
|
|
—
|
|
||
Net cash used in financing activities
|
(93,605
|
)
|
|
(159,959
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(749
|
)
|
|
3,777
|
|
||
Net decrease in cash and cash equivalents
|
(57,439
|
)
|
|
(26,397
|
)
|
||
Cash and cash equivalents:
|
|
|
|
|
|
||
Beginning of period
|
289,275
|
|
|
276,261
|
|
||
End of period
|
$
|
231,836
|
|
|
$
|
249,864
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to Fossil Group, Inc.
|
$
|
6,021
|
|
|
$
|
54,648
|
|
|
$
|
11,814
|
|
|
$
|
92,718
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic EPS computation:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic weighted average common shares outstanding
|
48,119
|
|
|
48,634
|
|
|
48,125
|
|
|
49,464
|
|
||||
Basic EPS
|
$
|
0.13
|
|
|
$
|
1.12
|
|
|
$
|
0.25
|
|
|
$
|
1.87
|
|
Diluted EPS computation:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic weighted average common shares outstanding
|
48,119
|
|
|
48,634
|
|
|
48,125
|
|
|
49,464
|
|
||||
Effect of stock options, stock appreciation rights, restricted stock units and performance restricted stock units
|
88
|
|
|
110
|
|
|
104
|
|
|
151
|
|
||||
Diluted weighted average common shares outstanding
|
48,207
|
|
|
48,744
|
|
|
48,229
|
|
|
49,615
|
|
||||
Diluted EPS
|
$
|
0.12
|
|
|
$
|
1.12
|
|
|
$
|
0.24
|
|
|
$
|
1.87
|
|
•
|
ASU 2014-12,
Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period
|
Cash paid, net of cash acquired
|
|
$
|
215,370
|
|
Replacement awards attributable to precombination service
|
|
1,709
|
|
|
Working capital and other adjustments
|
|
(3,788
|
)
|
|
Total transaction consideration
|
|
$
|
213,291
|
|
|
|
|
||
Inventories
|
|
$
|
7,011
|
|
Prepaid expenses and other current assets
|
|
25
|
|
|
Property, plant and equipment and other long-term assets
|
|
1,190
|
|
|
Goodwill
|
|
168,021
|
|
|
Amortizing Intangibles:
|
Useful Lives
|
|
||
Trade name
|
6 yrs.
|
15,700
|
|
|
Customer lists
|
5 yrs.
|
10,800
|
|
|
Developed technology
|
7 yrs.
|
36,100
|
|
|
Noncompete agreements
|
3 yrs.
|
700
|
|
|
Current liabilities
|
|
(17,019
|
)
|
|
Long-term liabilities
|
|
(9,237
|
)
|
|
Total net assets acquired
|
|
$
|
213,291
|
|
|
Americas
|
|
Europe
|
|
Asia
|
|
Total
|
||||||||
Balance at January 2, 2016
|
$
|
283,598
|
|
|
$
|
63,981
|
|
|
$
|
11,815
|
|
|
$
|
359,394
|
|
Segment allocation and acquisition adjustments (1)
|
(78,197
|
)
|
|
49,760
|
|
|
32,053
|
|
|
3,616
|
|
||||
Currency
|
(100
|
)
|
|
1,223
|
|
|
25
|
|
|
1,148
|
|
||||
Balance at July 2, 2016
|
$
|
205,301
|
|
|
$
|
114,964
|
|
|
$
|
43,893
|
|
|
$
|
364,158
|
|
|
July 2, 2016
|
|
January 2, 2016
|
||||
Components and parts
|
$
|
67,408
|
|
|
$
|
49,539
|
|
Work-in-process
|
10,762
|
|
|
12,213
|
|
||
Finished goods
|
583,578
|
|
|
563,592
|
|
||
Inventories
|
$
|
661,748
|
|
|
$
|
625,344
|
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||
Beginning balance
|
$
|
13,669
|
|
|
$
|
13,500
|
|
Settlements in cash or kind
|
(4,795
|
)
|
|
(4,019
|
)
|
||
Warranties issued and adjustments to preexisting warranties (1)
|
4,861
|
|
|
4,038
|
|
||
Liabilities assumed in acquisition
|
—
|
|
|
44
|
|
||
Ending balance
|
$
|
13,735
|
|
|
$
|
13,563
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||
Income tax expense
|
$
|
3,499
|
|
|
$
|
22,894
|
|
|
$
|
6,778
|
|
|
$
|
41,417
|
|
Income tax rate
|
30.2
|
%
|
|
28.7
|
%
|
|
30.5
|
%
|
|
29.8
|
%
|
|
|
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
||||||||||||
Fiscal Year
Authorized
|
Dollar Value
Authorized
|
|
Termination Date
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
||||||||
2014
|
$
|
1,000.0
|
|
|
December 2018
|
|
—
|
|
|
$
|
0.8
|
|
|
1.3
|
|
|
$
|
102.5
|
|
2012
|
$
|
1,000.0
|
|
|
December 2016 (1)
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
2010
|
$
|
30.0
|
|
|
None
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||||||
Fiscal Year
Authorized
|
Dollar Value
Authorized
|
|
Termination Date
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
||||||||
2014
|
$
|
1,000.0
|
|
|
December 2018
|
|
0.1
|
|
|
$
|
5.2
|
|
|
2.2
|
|
|
$
|
188.2
|
|
2012
|
$
|
1,000.0
|
|
|
December 2016 (1)
|
|
—
|
|
|
$
|
—
|
|
|
0.3
|
|
|
$
|
28.8
|
|
2010
|
$
|
30.0
|
|
|
None
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
Fossil Group, Inc.
Stockholders’
Equity
|
|
Noncontrolling
Interest
|
|
Total
Stockholders’
Equity
|
||||||
Balance at January 2, 2016
|
$
|
921,388
|
|
|
$
|
11,155
|
|
|
$
|
932,543
|
|
Net income
|
11,814
|
|
|
3,654
|
|
|
15,468
|
|
|||
Currency translation adjustment
|
7,721
|
|
|
—
|
|
|
7,721
|
|
|||
Cash flow hedges - net change
|
(6,101
|
)
|
|
—
|
|
|
(6,101
|
)
|
|||
Pension plan activity
|
1,714
|
|
|
—
|
|
|
1,714
|
|
|||
Common stock issued upon exercise of stock options
|
57
|
|
|
—
|
|
|
57
|
|
|||
Tax expense derived from stock-based compensation
|
(1,389
|
)
|
|
—
|
|
|
(1,389
|
)
|
|||
Distribution of noncontrolling interest earnings
|
—
|
|
|
(4,544
|
)
|
|
(4,544
|
)
|
|||
Acquisition of common stock
|
(6,418
|
)
|
|
—
|
|
|
(6,418
|
)
|
|||
Stock-based compensation expense
|
16,463
|
|
|
—
|
|
|
16,463
|
|
|||
Balance at July 2, 2016
|
$
|
945,249
|
|
|
$
|
10,265
|
|
|
$
|
955,514
|
|
|
Fossil Group, Inc.
Stockholders’
Equity
|
|
Noncontrolling
Interest
|
|
Total
Stockholders’
Equity
|
||||||
Balance at January 3, 2015
|
$
|
977,860
|
|
|
$
|
5,941
|
|
|
$
|
983,801
|
|
Net income
|
92,718
|
|
|
4,740
|
|
|
97,458
|
|
|||
Currency translation adjustment
|
(27,947
|
)
|
|
—
|
|
|
(27,947
|
)
|
|||
Cash flow hedges - net change
|
(185
|
)
|
|
—
|
|
|
(185
|
)
|
|||
Common stock issued upon exercise of stock options
|
582
|
|
|
—
|
|
|
582
|
|
|||
Tax expense derived from stock-based compensation
|
(699
|
)
|
|
—
|
|
|
(699
|
)
|
|||
Distribution of noncontrolling interest earnings
|
—
|
|
|
(5,056
|
)
|
|
(5,056
|
)
|
|||
Business acquisition
|
—
|
|
|
5,831
|
|
|
5,831
|
|
|||
Acquisition of common stock
|
(218,659
|
)
|
|
—
|
|
|
(218,659
|
)
|
|||
Stock-based compensation expense
|
9,276
|
|
|
—
|
|
|
9,276
|
|
|||
Balance at July 4, 2015
|
$
|
832,946
|
|
|
$
|
11,456
|
|
|
$
|
844,402
|
|
Stock Options and Stock Appreciation Rights
|
|
Shares
|
|
Weighted-
Average
Exercise Price
|
|
Weighted-
Average
Remaining
Contractual
Term
|
|
Aggregate
Intrinsic
Value
|
|||||
|
|
(in Thousands)
|
|
|
|
(in Years)
|
|
(in Thousands)
|
|||||
Outstanding at April 2, 2016
|
|
2,214
|
|
|
$
|
51.82
|
|
|
6.9
|
|
$
|
10,828
|
|
Granted
|
|
—
|
|
|
|
|
|
|
|
|
|||
Exercised
|
|
—
|
|
|
|
|
|
|
|
||||
Forfeited or expired
|
|
(8
|
)
|
|
117.13
|
|
|
|
|
|
|
||
Outstanding at July 2, 2016
|
|
2,206
|
|
|
51.59
|
|
|
6.7
|
|
791
|
|
||
Exercisable at July 2, 2016
|
|
538
|
|
|
$
|
84.14
|
|
|
4.4
|
|
$
|
791
|
|
Stock Options Outstanding
|
|
Stock Options Exercisable
|
||||||||||||||
Range of
Exercise Prices
|
|
Number of
Shares
|
|
Weighted-
Average
Exercise
Price
|
|
Weighted-
Average
Remaining
Contractual
Term
|
|
Number of
Shares
|
|
Weighted-
Average Exercise Price |
||||||
|
|
(in Thousands)
|
|
|
|
(in Years)
|
|
(in Thousands)
|
|
|
||||||
$13.65 - $29.78
|
|
41
|
|
|
$
|
14.40
|
|
|
2.7
|
|
41
|
|
|
$
|
14.40
|
|
$30.71 - $47.99
|
|
91
|
|
|
36.29
|
|
|
2.5
|
|
91
|
|
|
36.29
|
|
||
$55.04 - $83.83
|
|
92
|
|
|
80.80
|
|
|
4.8
|
|
92
|
|
|
80.80
|
|
||
$95.91 - $131.46
|
|
144
|
|
|
127.98
|
|
|
5.7
|
|
144
|
|
|
127.98
|
|
||
Total
|
|
368
|
|
|
$
|
80.95
|
|
|
4.3
|
|
368
|
|
|
$
|
80.95
|
|
Stock Appreciation Rights Outstanding
|
|
Stock Appreciation Rights Exercisable
|
||||||||||||||
Range of
Exercise Prices |
|
Number of
Shares |
|
Weighted-
Average Exercise Price |
|
Weighted-
Average Remaining Contractual Term |
|
Number of
Shares |
|
Weighted-
Average Exercise Price |
||||||
|
|
(in Thousands)
|
|
|
|
(in Years)
|
|
(in Thousands)
|
|
|
||||||
$13.65 - $29.78
|
|
26
|
|
|
$
|
21.97
|
|
|
4.2
|
|
13
|
|
|
$
|
13.65
|
|
$30.71 - $47.99
|
|
1,560
|
|
|
38.27
|
|
|
7.5
|
|
9
|
|
|
38.40
|
|
||
$55.04 - $83.83
|
|
143
|
|
|
79.05
|
|
|
6.1
|
|
62
|
|
|
80.44
|
|
||
$95.91 - $131.46
|
|
109
|
|
|
114.42
|
|
|
5.0
|
|
86
|
|
|
115.32
|
|
||
Total
|
|
1,838
|
|
|
$
|
45.72
|
|
|
7.2
|
|
170
|
|
|
$
|
91.02
|
|
Restricted Stock, Restricted Stock Units
and Performance Restricted Stock Units
|
|
Number of Shares
|
|
Weighted-Average
Grant Date Fair
Value Per Share
|
|||
|
|
(in Thousands)
|
|
|
|||
Nonvested at April 2, 2016
|
|
1,063
|
|
|
$
|
47.98
|
|
Granted
|
|
494
|
|
|
27.60
|
|
|
Vested
|
|
(21
|
)
|
|
82.08
|
|
|
Forfeited
|
|
(12
|
)
|
|
41.27
|
|
|
Nonvested at July 2, 2016
|
|
1,524
|
|
|
$
|
40.95
|
|
|
For the 13 Weeks Ended July 2, 2016
|
||||||||||||||||||
|
Currency
Translation
Adjustments
|
|
Cash Flow Hedges
|
|
|
|
|
||||||||||||
|
|
Forward
Contracts
|
|
Interest
Rate Swaps
|
|
Pension
Plan
|
|
Total
|
|||||||||||
Beginning balance
|
$
|
(64,486
|
)
|
|
$
|
(1,554
|
)
|
|
$
|
(1,457
|
)
|
|
$
|
(4,506
|
)
|
|
$
|
(72,003
|
)
|
Other comprehensive income (loss) before reclassifications
|
(9,396
|
)
|
|
8,738
|
|
|
(711
|
)
|
|
—
|
|
|
(1,369
|
)
|
|||||
Tax (expense) benefit
|
—
|
|
|
(3,576
|
)
|
|
259
|
|
|
—
|
|
|
(3,317
|
)
|
|||||
Amounts reclassed from accumulated other comprehensive income
|
104
|
|
|
928
|
|
|
(450
|
)
|
|
—
|
|
|
582
|
|
|||||
Tax (expense) benefit
|
—
|
|
|
(263
|
)
|
|
164
|
|
|
—
|
|
|
(99
|
)
|
|||||
Total other comprehensive income (loss)
|
(9,500
|
)
|
|
4,497
|
|
|
(166
|
)
|
|
—
|
|
|
(5,169
|
)
|
|||||
Ending balance
|
$
|
(73,986
|
)
|
|
$
|
2,943
|
|
|
$
|
(1,623
|
)
|
|
$
|
(4,506
|
)
|
|
$
|
(77,172
|
)
|
|
For the 13 Weeks Ended July 4, 2015
|
||||||||||||||||||
|
Currency
Translation
Adjustments
|
|
Cash Flow Hedges
|
|
|
|
|
||||||||||||
|
|
Forward
Contracts
|
|
Interest
Rate Swaps
|
|
Pension
Plan
|
|
Total
|
|||||||||||
Beginning balance
|
$
|
(60,747
|
)
|
|
$
|
19,315
|
|
|
$
|
(4,776
|
)
|
|
$
|
(3,647
|
)
|
|
$
|
(49,855
|
)
|
Other comprehensive income (loss) before reclassifications
|
5,559
|
|
|
2,701
|
|
|
10,460
|
|
|
—
|
|
|
18,720
|
|
|||||
Tax (expense) benefit
|
—
|
|
|
253
|
|
|
(3,812
|
)
|
|
—
|
|
|
(3,559
|
)
|
|||||
Amounts reclassed from accumulated other comprehensive income
|
—
|
|
|
10,555
|
|
|
4,604
|
|
|
—
|
|
|
15,159
|
|
|||||
Tax (expense) benefit
|
—
|
|
|
(3,634
|
)
|
|
(1,677
|
)
|
|
—
|
|
|
(5,311
|
)
|
|||||
Total other comprehensive income (loss)
|
5,559
|
|
|
(3,967
|
)
|
|
3,721
|
|
|
—
|
|
|
5,313
|
|
|||||
Ending balance
|
$
|
(55,188
|
)
|
|
$
|
15,348
|
|
|
$
|
(1,055
|
)
|
|
$
|
(3,647
|
)
|
|
$
|
(44,542
|
)
|
|
For the 26 Weeks Ended July 2, 2016
|
||||||||||||||||||
|
Currency
Translation
Adjustments
|
|
Cash Flow Hedges
|
|
|
|
|
||||||||||||
|
|
Forward
Contracts
|
|
Interest
Rate Swaps
|
|
Pension
Plan
|
|
Total
|
|||||||||||
Beginning balance
|
$
|
(81,707
|
)
|
|
$
|
8,114
|
|
|
$
|
(693
|
)
|
|
$
|
(6,220
|
)
|
|
$
|
(80,506
|
)
|
Other comprehensive income (loss) before reclassifications
|
7,825
|
|
|
(1,259
|
)
|
|
(2,381
|
)
|
|
2,010
|
|
|
6,195
|
|
|||||
Tax (expense) benefit
|
—
|
|
|
1,039
|
|
|
868
|
|
|
(296
|
)
|
|
1,611
|
|
|||||
Amounts reclassed from accumulated other comprehensive income
|
104
|
|
|
7,267
|
|
|
(918
|
)
|
|
—
|
|
|
6,453
|
|
|||||
Tax (expense) benefit
|
—
|
|
|
(2,316
|
)
|
|
335
|
|
|
—
|
|
|
(1,981
|
)
|
|||||
Total other comprehensive income (loss)
|
7,721
|
|
|
(5,171
|
)
|
|
(930
|
)
|
|
1,714
|
|
|
3,334
|
|
|||||
Ending balance
|
$
|
(73,986
|
)
|
|
$
|
2,943
|
|
|
$
|
(1,623
|
)
|
|
$
|
(4,506
|
)
|
|
$
|
(77,172
|
)
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||||||||||||
|
Currency
Translation
Adjustments
|
|
Cash Flow Hedges
|
|
|
|
|
||||||||||||
|
|
Forward
Contracts
|
|
Interest
Rate Swap
|
|
Pension
Plan
|
|
Total
|
|||||||||||
Beginning balance
|
$
|
(27,241
|
)
|
|
$
|
14,980
|
|
|
$
|
(502
|
)
|
|
$
|
(3,647
|
)
|
|
$
|
(16,410
|
)
|
Other comprehensive income (loss) before reclassifications
|
(27,947
|
)
|
|
21,462
|
|
|
3,054
|
|
|
—
|
|
|
(3,431
|
)
|
|||||
Tax (expense) benefit
|
—
|
|
|
(5,965
|
)
|
|
(1,113
|
)
|
|
—
|
|
|
(7,078
|
)
|
|||||
Amounts reclassed from accumulated other comprehensive income
|
—
|
|
|
22,993
|
|
|
3,923
|
|
|
—
|
|
|
26,916
|
|
|||||
Tax (expense) benefit
|
—
|
|
|
(7,864
|
)
|
|
(1,429
|
)
|
|
—
|
|
|
(9,293
|
)
|
|||||
Total other comprehensive income (loss)
|
(27,947
|
)
|
|
368
|
|
|
(553
|
)
|
|
—
|
|
|
(28,132
|
)
|
|||||
Ending balance
|
$
|
(55,188
|
)
|
|
$
|
15,348
|
|
|
$
|
(1,055
|
)
|
|
$
|
(3,647
|
)
|
|
$
|
(44,542
|
)
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
||||||||||||
|
Net Sales
|
|
Operating Income
|
|
Net Sales
|
|
Operating Income
|
||||||||
Americas
|
$
|
345,187
|
|
|
$
|
52,300
|
|
|
$
|
386,088
|
|
|
$
|
86,033
|
|
Europe
|
215,936
|
|
|
31,669
|
|
|
227,923
|
|
|
41,814
|
|
||||
Asia
|
124,245
|
|
|
18,936
|
|
|
125,964
|
|
|
20,555
|
|
||||
Corporate
|
|
|
|
(87,455
|
)
|
|
|
|
|
(77,968
|
)
|
||||
Consolidated
|
$
|
685,368
|
|
|
$
|
15,450
|
|
|
$
|
739,975
|
|
|
$
|
70,434
|
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||||||
|
Net Sales
|
|
Operating Income
|
|
Net Sales
|
|
Operating Income
|
||||||||
Americas
|
$
|
680,997
|
|
|
$
|
111,896
|
|
|
$
|
752,684
|
|
|
$
|
162,533
|
|
Europe
|
425,937
|
|
|
60,180
|
|
|
462,179
|
|
|
79,152
|
|
||||
Asia
|
238,282
|
|
|
36,865
|
|
|
250,197
|
|
|
41,051
|
|
||||
Corporate
|
|
|
|
(179,087
|
)
|
|
|
|
|
(156,147
|
)
|
||||
Consolidated
|
$
|
1,345,216
|
|
|
$
|
29,854
|
|
|
$
|
1,465,060
|
|
|
$
|
126,589
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
||||||||||
|
Net Sales
|
|
Percentage of Total
|
|
Net Sales
|
|
Percentage of Total
|
||||||
Watches
|
$
|
517,602
|
|
|
75.5
|
%
|
|
$
|
575,804
|
|
|
77.8
|
%
|
Leathers
|
93,152
|
|
|
13.6
|
|
|
89,380
|
|
|
12.1
|
|
||
Jewelry
|
56,752
|
|
|
8.3
|
|
|
55,780
|
|
|
7.5
|
|
||
Other
|
17,862
|
|
|
2.6
|
|
|
19,011
|
|
|
2.6
|
|
||
Total
|
$
|
685,368
|
|
|
100.0
|
%
|
|
$
|
739,975
|
|
|
100.0
|
%
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||||||||
|
Net Sales
|
|
Percentage of Total
|
|
Net Sales
|
|
Percentage of Total
|
||||||
Watches
|
$
|
1,014,085
|
|
|
75.4
|
%
|
|
$
|
1,127,661
|
|
|
77.0
|
%
|
Leathers
|
185,657
|
|
|
13.8
|
|
|
182,306
|
|
|
12.4
|
|
||
Jewelry
|
111,472
|
|
|
8.3
|
|
|
118,767
|
|
|
8.1
|
|
||
Other
|
34,002
|
|
|
2.5
|
|
|
36,326
|
|
|
2.5
|
|
||
Total
|
$
|
1,345,216
|
|
|
100.0
|
%
|
|
$
|
1,465,060
|
|
|
100.0
|
%
|
Functional Currency
|
|
Contract Currency
|
||||||
Type
|
|
Amount
|
|
Type
|
|
Amount
|
||
Euro
|
|
255.1
|
|
|
U.S. dollar
|
|
288.3
|
|
British pound
|
|
52.9
|
|
|
U.S. dollar
|
|
79.0
|
|
Canadian dollar
|
|
80.5
|
|
|
U.S. dollar
|
|
61.0
|
|
Japanese yen
|
|
4,077.9
|
|
|
U.S. dollar
|
|
35.7
|
|
Mexican peso
|
|
335.4
|
|
|
U.S. dollar
|
|
18.3
|
|
Australian dollar
|
|
20.0
|
|
|
U.S. dollar
|
|
14.6
|
|
U.S. dollar
|
|
28.0
|
|
|
Japanese yen
|
|
3,013.0
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
||||
Cash flow hedges:
|
|
|
|
|
|
||
Forward contracts
|
$
|
5,162
|
|
|
$
|
2,954
|
|
Interest rate swaps
|
(452
|
)
|
|
6,648
|
|
||
Total gain (loss) recognized in other comprehensive income (loss), net of taxes
|
$
|
4,710
|
|
|
$
|
9,602
|
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||
Cash flow hedges:
|
|
|
|
|
|
||
Forward contracts
|
$
|
(220
|
)
|
|
$
|
15,497
|
|
Interest rate swaps
|
(1,513
|
)
|
|
1,941
|
|
||
Total gain (loss) recognized in other comprehensive income (loss), net of taxes
|
$
|
(1,733
|
)
|
|
$
|
17,438
|
|
Derivative Instruments
|
|
Condensed Consolidated
Statements of Income
and Comprehensive
Income Location
|
|
Effect of Derivative
Instruments
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
||||
Forward contracts designated as cash flow hedging instruments
|
|
Other income (expense)-net
|
|
Total gain (loss) reclassified from other comprehensive income (loss)
|
|
$
|
665
|
|
|
$
|
6,921
|
|
Forward contracts not designated as hedging instruments
|
|
Other income (expense)-net
|
|
Total gain (loss) recognized in income
|
|
$
|
74
|
|
|
$
|
(9
|
)
|
Interest rate swap designated as a cash flow hedging instrument
|
|
Interest expense
|
|
Total gain (loss) reclassified from other comprehensive income (loss)
|
|
$
|
(286
|
)
|
|
$
|
(404
|
)
|
Interest rate swap designated as a cash flow hedging instrument
|
|
Other income (expense)-net
|
|
Total gain (loss) reclassified from other comprehensive income (loss)
|
|
$
|
—
|
|
|
$
|
3,331
|
|
Derivative Instruments
|
|
Condensed Consolidated
Statements of Income
and Comprehensive
Income Location
|
|
Effect of Derivative
Instruments
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
||||
Forward contracts designated as cash flow hedging instruments
|
|
Other income (expense)-net
|
|
Total gain (loss) reclassified from other comprehensive income (loss)
|
|
$
|
4,951
|
|
|
$
|
15,129
|
|
Forward contracts not designated as hedging instruments
|
|
Other income (expense)-net
|
|
Total gain (loss) recognized in income
|
|
$
|
(157
|
)
|
|
$
|
80
|
|
Interest rate swap designated as a cash flow hedging instrument
|
|
Interest expense
|
|
Total gain (loss) reclassified from other comprehensive income (loss)
|
|
$
|
(583
|
)
|
|
$
|
(837
|
)
|
Interest rate swap designated as a cash flow hedging instrument
|
|
Other income (expense)-net
|
|
Total gain (loss) reclassified from other comprehensive income (loss)
|
|
$
|
—
|
|
|
$
|
3,331
|
|
|
|
Asset Derivatives
|
|
Liability Derivatives
|
||||||||||||||||||||
|
|
July 2, 2016
|
|
January 2, 2016
|
|
July 2, 2016
|
|
January 2, 2016
|
||||||||||||||||
Derivative Instruments
|
|
Condensed
Consolidated
Balance Sheets
Location
|
|
Fair
Value
|
|
Condensed
Consolidated
Balance Sheets
Location
|
|
Fair
Value
|
|
Condensed
Consolidated
Balance Sheets
Location
|
|
Fair
Value
|
|
Condensed
Consolidated
Balance Sheets
Location
|
|
Fair
Value
|
||||||||
Forward contracts designated as cash flow hedging instruments
|
|
Prepaid expenses and other current assets
|
|
$
|
10,709
|
|
|
Prepaid expenses and other current assets
|
|
$
|
13,184
|
|
|
Accrued expenses- other
|
|
$
|
6,109
|
|
|
Accrued expenses- other
|
|
$
|
477
|
|
Forward contracts not designated as cash flow hedging instruments
|
|
Prepaid expenses and other current assets
|
|
—
|
|
|
Prepaid expenses and other current assets
|
|
167
|
|
|
Accrued expenses- other
|
|
49
|
|
|
Accrued expenses- other
|
|
71
|
|
||||
Interest rate swap designated as a cash flow hedging instrument
|
|
Prepaid expenses and other current assets
|
|
—
|
|
|
Prepaid expenses and other current assets
|
|
—
|
|
|
Accrued expenses- other
|
|
1,568
|
|
|
Accrued expenses- other
|
|
1,273
|
|
||||
Forward contracts designated as cash flow hedging instruments
|
|
Intangible and other assets-net
|
|
2,845
|
|
|
Intangible and other assets-net
|
|
2,785
|
|
|
Other long-term liabilities
|
|
1,936
|
|
|
Other long-term liabilities
|
|
250
|
|
||||
Interest rate swap designated as a cash flow hedging instrument
|
|
Intangible and other assets-net
|
|
—
|
|
|
Intangible and other assets-net
|
|
311
|
|
|
Other long-term liabilities
|
|
985
|
|
|
Other long-term liabilities
|
|
128
|
|
||||
Total
|
|
|
|
$
|
13,554
|
|
|
|
|
$
|
16,447
|
|
|
|
|
$
|
10,647
|
|
|
|
|
$
|
2,199
|
|
|
Fair Value at July 2, 2016
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Forward contracts
|
$
|
—
|
|
|
$
|
13,554
|
|
|
$
|
—
|
|
|
$
|
13,554
|
|
Deferred compensation plan assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Investment in publicly traded mutual funds
|
2,398
|
|
|
—
|
|
|
—
|
|
|
2,398
|
|
||||
Total
|
$
|
2,398
|
|
|
$
|
13,554
|
|
|
$
|
—
|
|
|
$
|
15,952
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Forward contracts
|
—
|
|
|
8,094
|
|
|
—
|
|
|
8,094
|
|
||||
Interest rate swap
|
—
|
|
|
2,553
|
|
|
—
|
|
|
2,553
|
|
||||
Total
|
$
|
—
|
|
|
$
|
10,647
|
|
|
$
|
—
|
|
|
$
|
10,647
|
|
|
Fair Value at January 2, 2016
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Forward contracts
|
$
|
—
|
|
|
$
|
16,136
|
|
|
$
|
—
|
|
|
$
|
16,136
|
|
Deferred compensation plan assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Investment in publicly traded mutual funds
|
2,406
|
|
|
—
|
|
|
—
|
|
|
2,406
|
|
||||
Interest rate swap
|
—
|
|
|
311
|
|
|
—
|
|
|
311
|
|
||||
Total
|
$
|
2,406
|
|
|
$
|
16,447
|
|
|
$
|
—
|
|
|
$
|
18,853
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Contingent consideration
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,643
|
|
|
$
|
3,643
|
|
Forward contracts
|
—
|
|
|
798
|
|
|
—
|
|
|
798
|
|
||||
Interest rate swap
|
—
|
|
|
1,401
|
|
|
—
|
|
|
1,401
|
|
||||
Total
|
$
|
—
|
|
|
$
|
2,199
|
|
|
$
|
3,643
|
|
|
$
|
5,842
|
|
|
|
|
|
July 2, 2016
|
|
January 2, 2016
|
||||||||||||
|
|
Useful
|
|
Gross
|
|
Accumulated
|
|
Gross
|
|
Accumulated
|
||||||||
|
|
Lives
|
|
Amount
|
|
Amortization
|
|
Amount
|
|
Amortization
|
||||||||
Intangibles-subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Trademarks
|
|
10 yrs.
|
|
$
|
4,310
|
|
|
$
|
3,321
|
|
|
$
|
4,175
|
|
|
$
|
3,195
|
|
Customer lists
|
|
5-10 yrs.
|
|
54,064
|
|
|
24,166
|
|
|
53,825
|
|
|
21,001
|
|
||||
Patents
|
|
3-20 yrs.
|
|
2,302
|
|
|
2,082
|
|
|
2,273
|
|
|
2,064
|
|
||||
Noncompete agreement
|
|
3-6 yrs.
|
|
2,524
|
|
|
1,409
|
|
|
2,515
|
|
|
1,134
|
|
||||
Developed technology
|
|
7 yrs.
|
|
36,100
|
|
|
2,579
|
|
|
36,100
|
|
|
—
|
|
||||
Trade name
|
|
6 yrs.
|
|
15,700
|
|
|
1,308
|
|
|
15,700
|
|
|
—
|
|
||||
Other
|
|
7-20 yrs.
|
|
259
|
|
|
214
|
|
|
256
|
|
|
206
|
|
||||
Total intangibles-subject to amortization
|
|
|
|
115,259
|
|
|
35,079
|
|
|
114,844
|
|
|
27,600
|
|
||||
Intangibles-not subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Trade names
|
|
|
|
74,503
|
|
|
|
|
|
74,493
|
|
|
|
|
||||
Other assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Key money deposits
|
|
|
|
28,612
|
|
|
20,349
|
|
|
29,357
|
|
|
19,805
|
|
||||
Other deposits
|
|
|
|
22,303
|
|
|
|
|
|
21,684
|
|
|
|
|
||||
Deferred compensation plan assets
|
|
|
|
2,398
|
|
|
|
|
|
2,406
|
|
|
|
|
||||
Deferred tax asset-net
|
|
|
|
22,131
|
|
|
|
|
|
18,602
|
|
|
|
|
||||
Restricted cash
|
|
|
|
525
|
|
|
|
|
|
512
|
|
|
|
|
||||
Shop-in-shop
|
|
|
|
9,494
|
|
|
7,807
|
|
|
9,985
|
|
|
8,262
|
|
||||
Interest rate swap
|
|
|
|
—
|
|
|
|
|
|
311
|
|
|
|
|
||||
Forward contracts
|
|
|
|
2,845
|
|
|
|
|
|
2,785
|
|
|
|
|
||||
Investments
|
|
|
|
2,397
|
|
|
|
|
2,396
|
|
|
|
||||||
Other
|
|
|
|
4,784
|
|
|
|
|
|
5,519
|
|
|
|
|
||||
Total other assets
|
|
|
|
95,489
|
|
|
28,156
|
|
|
93,557
|
|
|
28,067
|
|
||||
Total intangible and other assets
|
|
|
|
$
|
285,251
|
|
|
$
|
63,235
|
|
|
$
|
282,894
|
|
|
$
|
55,667
|
|
Total intangible and other assets-net
|
|
|
|
|
|
|
$
|
222,016
|
|
|
|
|
|
$
|
227,227
|
|
Fiscal Year
|
|
Amortization
Expense
|
||
2016 (remaining)
|
|
$
|
7,487
|
|
2017
|
|
$
|
14,721
|
|
2018
|
|
$
|
14,366
|
|
2019
|
|
$
|
14,037
|
|
2020
|
|
$
|
13,528
|
|
2021
|
|
$
|
9,703
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
|
|
|
|
|||||||||||||
|
|
|
Growth (Decline)
|
|||||||||||||||||
|
Net Sales
|
|
Percentage
of Total
|
|
Net Sales
|
|
Percentage
of Total
|
|
Dollars
|
|
Percentage
|
|||||||||
Watches
|
$
|
517.6
|
|
|
75.5
|
%
|
|
$
|
575.8
|
|
|
77.8
|
%
|
|
$
|
(58.2
|
)
|
|
(10.1
|
)%
|
Leathers
|
93.2
|
|
|
13.6
|
|
|
89.4
|
|
|
12.1
|
|
|
3.8
|
|
|
4.3
|
|
|||
Jewelry
|
56.8
|
|
|
8.3
|
|
|
55.8
|
|
|
7.5
|
|
|
1.0
|
|
|
1.8
|
|
|||
Other
|
17.8
|
|
|
2.6
|
|
|
19.0
|
|
|
2.6
|
|
|
(1.2
|
)
|
|
(6.3
|
)
|
|||
Total
|
$
|
685.4
|
|
|
100.0
|
%
|
|
$
|
740.0
|
|
|
100.0
|
%
|
|
$
|
(54.6
|
)
|
|
(7.4
|
)%
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
|
Growth (Decline)
|
|||||||||||||||
|
Net Sales
|
|
Percentage
of Total
|
|
Net Sales
|
|
Percentage
of Total
|
|
Dollars
|
|
Percentage
|
|||||||||
Americas
|
$
|
345.2
|
|
|
50.4
|
%
|
|
$
|
386.1
|
|
|
52.2
|
%
|
|
$
|
(40.9
|
)
|
|
(10.6
|
)%
|
Europe
|
215.9
|
|
|
31.5
|
|
|
227.9
|
|
|
30.8
|
|
|
(12.0
|
)
|
|
(5.3
|
)
|
|||
Asia
|
124.3
|
|
|
18.1
|
|
|
126.0
|
|
|
17.0
|
|
|
(1.7
|
)
|
|
(1.3
|
)
|
|||
Total
|
$
|
685.4
|
|
|
100.0
|
%
|
|
$
|
740.0
|
|
|
100.0
|
%
|
|
$
|
(54.6
|
)
|
|
(7.4
|
)%
|
|
July 2, 2016
|
|
July 4, 2015
|
||||||||||||||||||||
|
Americas
|
|
Europe
|
|
Asia
|
|
Total
|
|
Americas
|
|
Europe
|
|
Asia
|
|
Total
|
||||||||
Full price accessory
|
126
|
|
|
124
|
|
|
69
|
|
|
319
|
|
|
138
|
|
|
126
|
|
|
63
|
|
|
327
|
|
Outlets
|
155
|
|
|
73
|
|
|
45
|
|
|
273
|
|
|
145
|
|
|
66
|
|
|
42
|
|
|
253
|
|
Full priced multi-brand
|
—
|
|
|
7
|
|
|
16
|
|
|
23
|
|
|
1
|
|
|
5
|
|
|
22
|
|
|
28
|
|
Total stores
|
281
|
|
|
204
|
|
|
130
|
|
|
615
|
|
|
284
|
|
|
197
|
|
|
127
|
|
|
608
|
|
|
For the 13 Weeks Ended July 2, 2016
|
|
For the 13 Weeks Ended July 4, 2015
|
|
Growth (Decline)
|
|
Operating Margin %
|
|||||||||||||
|
|
|
Dollars
|
|
Percentage
|
|
2016
|
|
2015
|
|||||||||||
Americas
|
$
|
52.3
|
|
|
$
|
86.0
|
|
|
$
|
(33.7
|
)
|
|
(39.2
|
)%
|
|
15.2
|
%
|
|
22.3
|
%
|
Europe
|
31.7
|
|
|
41.8
|
|
|
(10.1
|
)
|
|
(24.2
|
)
|
|
14.7
|
|
|
18.3
|
|
|||
Asia
|
19.0
|
|
|
20.6
|
|
|
(1.6
|
)
|
|
(7.8
|
)
|
|
15.2
|
|
|
16.3
|
|
|||
Corporate
|
(87.5
|
)
|
|
(78.0
|
)
|
|
(9.5
|
)
|
|
12.2
|
|
|
|
|
|
|||||
Total operating income
|
$
|
15.5
|
|
|
$
|
70.4
|
|
|
$
|
(54.9
|
)
|
|
(78.0
|
)%
|
|
2.3
|
%
|
|
9.5
|
%
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
|
Growth (Decline)
|
|||||||||||||||
|
Net Sales
|
|
Percentage
of Total
|
|
Net Sales
|
|
Percentage
of Total
|
|
Dollars
|
|
Percentage
|
|||||||||
Watches
|
$
|
1,014.1
|
|
|
75.4
|
%
|
|
$
|
1,127.7
|
|
|
77.0
|
%
|
|
$
|
(113.6
|
)
|
|
(10.1
|
)%
|
Leathers
|
185.6
|
|
|
13.8
|
|
|
182.3
|
|
|
12.4
|
|
|
3.3
|
|
|
1.8
|
|
|||
Jewelry
|
111.5
|
|
|
8.3
|
|
|
118.8
|
|
|
8.1
|
|
|
(7.3
|
)
|
|
(6.1
|
)
|
|||
Other
|
34.0
|
|
|
2.5
|
|
|
36.3
|
|
|
2.5
|
|
|
(2.3
|
)
|
|
(6.3
|
)
|
|||
Total
|
$
|
1,345.2
|
|
|
100.0
|
%
|
|
$
|
1,465.1
|
|
|
100.0
|
%
|
|
$
|
(119.9
|
)
|
|
(8.2
|
)%
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
|
Growth (Decline)
|
|||||||||||||||
|
Net Sales
|
|
Percentage
of Total
|
|
Net Sales
|
|
Percentage
of Total
|
|
Dollars
|
|
Percentage
|
|||||||||
Americas
|
$
|
681.0
|
|
|
50.6
|
%
|
|
$
|
752.7
|
|
|
51.4
|
%
|
|
$
|
(71.7
|
)
|
|
(9.5
|
)%
|
Europe
|
425.9
|
|
|
31.7
|
|
|
462.2
|
|
|
31.5
|
|
|
(36.3
|
)
|
|
(7.9
|
)
|
|||
Asia
|
238.3
|
|
|
17.7
|
|
|
250.2
|
|
|
17.1
|
|
|
(11.9
|
)
|
|
(4.8
|
)
|
|||
Total
|
$
|
1,345.2
|
|
|
100.0
|
%
|
|
$
|
1,465.1
|
|
|
100.0
|
%
|
|
$
|
(119.9
|
)
|
|
(8.2
|
)%
|
|
For the 26 Weeks Ended July 2, 2016
|
|
For the 26 Weeks Ended July 4, 2015
|
|
Growth (Decline)
|
|
Operating Margin %
|
|||||||||||||
|
|
|
Dollars
|
|
Percentage
|
|
2016
|
|
2015
|
|||||||||||
Americas
|
$
|
111.9
|
|
|
$
|
162.5
|
|
|
$
|
(50.6
|
)
|
|
(31.1
|
)%
|
|
16.4
|
%
|
|
21.6
|
%
|
Europe
|
60.2
|
|
|
79.1
|
|
|
(18.9
|
)
|
|
(23.9
|
)
|
|
14.1
|
|
|
17.1
|
|
|||
Asia
|
36.9
|
|
|
41.1
|
|
|
(4.2
|
)
|
|
(10.2
|
)
|
|
15.5
|
|
|
16.4
|
|
|||
Corporate
|
(179.1
|
)
|
|
(156.1
|
)
|
|
(23.0
|
)
|
|
14.7
|
|
|
|
|
|
|||||
Total operating income
|
$
|
29.9
|
|
|
$
|
126.6
|
|
|
$
|
(96.7
|
)
|
|
(76.4
|
)%
|
|
2.2
|
%
|
|
8.6
|
%
|
|
|
|
|
|
|
For the 13 Weeks Ended
July 2, 2016
|
|
For the 13 Weeks Ended
July 4, 2015
|
||||||||||||
Fiscal Year
Authorized
|
|
Dollar Value
Authorized
|
|
Termination Date
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
||||||||
2014
|
|
$
|
1,000.0
|
|
|
December 2018
|
|
—
|
|
|
$
|
0.8
|
|
|
1.3
|
|
|
$
|
102.5
|
|
2012
|
|
$
|
1,000.0
|
|
|
December 2016 (1)
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
2010
|
|
$
|
30.0
|
|
|
None
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
For the 26 Weeks Ended
July 2, 2016
|
|
For the 26 Weeks Ended
July 4, 2015
|
||||||||||||
Fiscal Year
Authorized
|
|
Dollar Value
Authorized
|
|
Termination Date
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
|
Number of
Shares
Repurchased
|
|
Dollar Value
Repurchased
|
||||||||
2014
|
|
$
|
1,000.0
|
|
|
December 2018
|
|
0.1
|
|
|
$
|
5.2
|
|
|
2.2
|
|
|
$
|
188.2
|
|
2012
|
|
$
|
1,000.0
|
|
|
December 2016 (1)
|
|
—
|
|
|
$
|
—
|
|
|
0.3
|
|
|
$
|
28.8
|
|
2010
|
|
$
|
30.0
|
|
|
None
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
Functional Currency
|
|
Contract Currency
|
|
|
||||||
Type
|
|
Amount
|
|
Type
|
|
Amount
|
|
Expiration Date
|
||
Euro
|
|
255.1
|
|
|
U.S. dollar
|
|
288.3
|
|
|
May 2018
|
British pound
|
|
52.9
|
|
|
U.S. dollar
|
|
79.0
|
|
|
June 2018
|
Canadian dollar
|
|
80.5
|
|
|
U.S. dollar
|
|
61.0
|
|
|
June 2018
|
Japanese yen
|
|
4,077.9
|
|
|
U.S. dollar
|
|
35.7
|
|
|
June 2018
|
Mexican peso
|
|
335.4
|
|
|
U.S. dollar
|
|
18.3
|
|
|
March 2017
|
Australian dollar
|
|
20.0
|
|
|
U.S. dollar
|
|
14.6
|
|
|
March 2017
|
U.S. dollar
|
|
28.0
|
|
|
Japanese yen
|
|
3,013.0
|
|
|
November 2016
|
Period
|
|
Total
Number
of Shares
Purchased (1)
|
|
Average
Price
Paid per
Share
|
|
Total Number of Shares
Purchased as Part
of Publicly
Announced Programs
|
|
Approximate Dollar
Value of Shares that
May Yet Be Purchased
Under the Programs (2)
|
||||||
April 3, 2016 - July 2, 2016
|
|
18,808
|
|
|
$
|
43.42
|
|
|
18,600
|
|
|
$
|
824,158,481
|
|
Total
|
|
18,808
|
|
|
|
|
|
18,600
|
|
|
|
|
Exhibit
Number
|
|
Document Description
|
|
|
|
3.1
|
|
Third Amended and Restated Certificate of Incorporation of Fossil, Inc. (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form 8-K filed on May 25, 2010).
|
|
|
|
3.2
|
|
Certificate of Amendment of the Third Amended and Restated Certificate of Incorporation of Fossil, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on May 28, 2013).
|
|
|
|
3.3
|
|
Fourth Amended and Restated Bylaws of Fossil Group, Inc. (incorporated by reference to Exhibit 3.2 of the Company’s Current Report on Form 8-K filed on May 28, 2013).
|
|
|
|
3.4
|
|
Amendment No. 1 to Fourth Amended and Restated Bylaws of Fossil Group, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on March 20, 2014).
|
|
|
|
10.1(1)
|
|
Amendment to the Restricted Stock Unit Award Under the Fossil Group, Inc. 2008 Long-Term Incentive Plan.
|
|
|
|
10.2(1)
|
|
Amendment to the Stock Appreciation Rights Award Under the Fossil Group, Inc. 2008 Long-Term Incentive Plan.
|
|
|
|
10.3(1)
|
|
Amendment to the Restricted Stock Unit Award Under the Fossil Group, Inc. 2008 Long-Term Incentive Plan for Performance Grants.
|
|
|
|
10.4(1)
|
|
Restricted Stock Unit Award Under the Fossil Group, Inc. 2016 Long-Term Incentive Plan.
|
|
|
|
10.5(1)
|
|
Stock Appreciation Rights Award Under the Fossil Group, Inc. 2016 Long-Term Incentive Plan.
|
|
|
|
10.6(1)
|
|
Restricted Stock Unit Award Under the Fossil Group, Inc. 2016 Long-Term Incentive Plan for Performance Grants.
|
|
|
|
31.1(1)
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.
|
|
|
|
31.2(1)
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.
|
|
|
|
32.1(2)
|
|
Certification of Chief Executive Officer pursuant to Rule 13a-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.2(2)
|
|
Certification of Chief Financial Officer pursuant to Rule 13a-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
101.INS(1)
|
|
XBRL Instance Document.
|
|
|
|
101.SCH(1)
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
101.DEF(1)
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
101.CAL(1)
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
101.LAB(1)
|
|
XBRL Taxonomy Extension Label Linkbase Document.
|
|
|
|
101.PRE(1)
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
FOSSIL GROUP, INC
.
|
|
|
August 11, 2016
|
/S/ DENNIS R. SECOR
|
|
Dennis R. Secor
|
|
Executive Vice President, Chief Financial Officer and Treasurer (Principal financial and accounting officer duly authorized to sign on behalf of the Registrant)
|
Exhibit
Number
|
|
Document Description
|
|
|
|
3.1
|
|
Third Amended and Restated Certificate of Incorporation of Fossil, Inc. (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form 8-K filed on May 25, 2010).
|
|
|
|
3.2
|
|
Certificate of Amendment of the Third Amended and Restated Certificate of Incorporation of Fossil, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on May 28, 2013).
|
|
|
|
3.3
|
|
Fourth Amended and Restated Bylaws of Fossil Group, Inc. (incorporated by reference to Exhibit 3.2 of the Company’s Current Report on Form 8-K filed on May 28, 2013).
|
|
|
|
3.4
|
|
Amendment No. 1 to Fourth Amended and Restated Bylaws of Fossil Group, Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on March 20, 2014).
|
|
|
|
10.1(1)
|
|
Amendment to the Restricted Stock Unit Award Under the Fossil Group, Inc. 2008 Long-Term Incentive Plan.
|
|
|
|
10.2(1)
|
|
Amendment to the Stock Appreciation Rights Award Under the Fossil Group, Inc. 2008 Long-Term Incentive Plan.
|
|
|
|
10.3(1)
|
|
Amendment to the Restricted Stock Unit Award Under the Fossil Group, Inc. 2008 Long-Term Incentive Plan for Performance Grants.
|
|
|
|
10.4(1)
|
|
Restricted Stock Unit Award Under the Fossil Group, Inc. 2016 Long-Term Incentive Plan.
|
|
|
|
10.5(1)
|
|
Stock Appreciation Rights Award Under the Fossil Group, Inc. 2016 Long-Term Incentive Plan.
|
|
|
|
10.6(1)
|
|
Restricted Stock Unit Award Under the Fossil Group, Inc. 2016 Long-Term Incentive Plan for Performance Grants.
|
|
|
|
31.1(1)
|
|
Certification of Chief Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2(1)
|
|
Certification of Chief Financial Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1(2)
|
|
Certification of Chief Executive Officer Pursuant to Section 18 U.S.C Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.2(2)
|
|
Certification of Chief Financial Officer Pursuant to Section 18 U.S.C Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
101.INS(1)
|
|
XBRL Instance Document.
|
|
|
|
101.SCH(1)
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
101.DEF(1)
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
101.CAL(1)
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
101.LAB(1)
|
|
XBRL Taxonomy Extension Label Linkbase Document.
|
|
|
|
101.PRE(1)
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
1 Year Fossil Chart |
1 Month Fossil Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions