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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.0846 | 10.55% | 0.8865 | 0.88 | 0.919 | 0.9155 | 0.80 | 0.82 | 575,247 | 23:59:36 |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | 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) |
Title of each class | Ticker Symbol | Name of each exchange on which registered | ||||||||||||
Common Stock, par value $0.01 per share | FOSL | The Nasdaq Stock Market LLC | ||||||||||||
7.00% Senior notes due 2026 | FOSLL | The Nasdaq Stock Market LLC |
Large accelerated filer | ☐ | Accelerated filer | ☒ | |||||||||||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||||||||||
Emerging growth company | ☐ |
Page | ||||||||
July 2, 2022 | January 1, 2022 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 167,067 | $ | 250,844 | |||||||
Accounts receivable - net of allowances for doubtful accounts of $16,477 and $16,388, respectively | 176,517 | 255,131 | |||||||||
Inventories | 437,909 | 346,850 | |||||||||
Prepaid expenses and other current assets | 183,295 | 169,930 | |||||||||
Total current assets | 964,788 | 1,022,755 | |||||||||
Property, plant and equipment - net of accumulated depreciation of $427,065 and $436,663, respectively | 80,559 | 89,767 | |||||||||
Operating lease right-of-use assets | 168,615 | 177,597 | |||||||||
Intangible and other assets-net | 69,462 | 78,600 | |||||||||
Total long-term assets | 318,636 | 345,964 | |||||||||
Total assets | $ | 1,283,424 | $ | 1,368,719 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 208,732 | $ | 229,877 | |||||||
Short-term and current portion of long-term debt | 570 | 554 | |||||||||
Accrued expenses: | |||||||||||
Current operating lease liabilities | 51,518 | 58,721 | |||||||||
Compensation | 42,453 | 73,595 | |||||||||
Royalties | 14,875 | 38,714 | |||||||||
Customer liabilities | 32,594 | 40,886 | |||||||||
Transaction taxes | 2,810 | 17,147 | |||||||||
Other | 44,935 | 46,675 | |||||||||
Income taxes payable | 22,797 | 29,478 | |||||||||
Total current liabilities | 421,284 | 535,647 | |||||||||
Long-term income taxes payable | 23,059 | 20,452 | |||||||||
Deferred income tax liabilities | 479 | 504 | |||||||||
Long-term debt | 248,905 | 141,354 | |||||||||
Long-term operating lease liabilities | 163,908 | 174,520 | |||||||||
Other long-term liabilities | 31,764 | 30,884 | |||||||||
Total long-term liabilities | 468,115 | 367,714 | |||||||||
Commitments and contingencies (Note 13) | |||||||||||
Stockholders’ equity: | |||||||||||
Common stock, 51,807 and 52,146 shares issued and outstanding at July 2, 2022 and January 1, 2022, respectively | 518 | 521 | |||||||||
Additional paid-in capital | 304,775 | 300,848 | |||||||||
Retained earnings | 179,060 | 229,132 | |||||||||
Accumulated other comprehensive income (loss) | (87,079) | (67,275) | |||||||||
Total Fossil Group, Inc. stockholders’ equity | 397,274 | 463,226 | |||||||||
Noncontrolling interests | (3,249) | 2,132 | |||||||||
Total stockholders’ equity | 394,025 | 465,358 | |||||||||
Total liabilities and stockholders’ equity | $ | 1,283,424 | $ | 1,368,719 |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||
Net sales | $ | 371,168 | $ | 410,939 | $ | 747,021 | $ | 773,981 | |||||||||||||||
Cost of sales | 179,819 | 189,100 | 371,359 | 369,553 | |||||||||||||||||||
Gross profit | 191,349 | 221,839 | 375,662 | 404,428 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Selling, general and administrative expenses | 199,233 | 200,480 | 394,991 | 387,803 | |||||||||||||||||||
Other long-lived asset impairments | 165 | 1,263 | 452 | 5,763 | |||||||||||||||||||
Restructuring charges | 2,887 | 5,749 | 5,438 | 13,270 | |||||||||||||||||||
Total operating expenses | 202,285 | 207,492 | 400,881 | 406,836 | |||||||||||||||||||
Operating income (loss) | (10,936) | 14,347 | (25,219) | (2,408) | |||||||||||||||||||
Interest expense | 4,322 | 6,531 | 8,318 | 13,863 | |||||||||||||||||||
Other income (expense) - net | (1,674) | (500) | (56) | 1,365 | |||||||||||||||||||
Income (loss) before income taxes | (16,932) | 7,316 | (33,593) | (14,906) | |||||||||||||||||||
Provision for income taxes | 2,003 | 8,081 | 6,690 | 10,198 | |||||||||||||||||||
Net income (loss) | (18,935) | (765) | (40,283) | (25,104) | |||||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | 139 | 427 | 305 | 528 | |||||||||||||||||||
Net income (loss) attributable to Fossil Group, Inc. | $ | (19,074) | $ | (1,192) | $ | (40,588) | $ | (25,632) | |||||||||||||||
Other comprehensive income (loss), net of taxes: | |||||||||||||||||||||||
Currency translation adjustment | $ | (16,087) | $ | 1,065 | $ | (23,972) | $ | (9,056) | |||||||||||||||
Cash flow hedges - net change | 3,070 | (220) | 4,168 | 1,522 | |||||||||||||||||||
Total other comprehensive income (loss) | (13,017) | 845 | (19,804) | (7,534) | |||||||||||||||||||
Total comprehensive income (loss) | (31,952) | 80 | (60,087) | (32,638) | |||||||||||||||||||
Less: Comprehensive income (loss) attributable to noncontrolling interests | 139 | 427 | 305 | 528 | |||||||||||||||||||
Comprehensive income (loss) attributable to Fossil Group, Inc. | $ | (32,091) | $ | (347) | $ | (60,392) | $ | (33,166) | |||||||||||||||
Earnings (loss) per share: | |||||||||||||||||||||||
Basic | $ | (0.37) | $ | (0.02) | $ | (0.78) | $ | (0.50) | |||||||||||||||
Diluted | $ | (0.37) | $ | (0.02) | $ | (0.78) | $ | (0.50) | |||||||||||||||
Weighted average common shares outstanding: | |||||||||||||||||||||||
Basic | 51,707 | 52,040 | 51,853 | 51,779 | |||||||||||||||||||
Diluted | 51,707 | 52,040 | 51,853 | 51,779 |
For the 13 Weeks Ended July 2, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | Additional paid-in capital | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | Stockholders' equity attributable to Fossil Group, Inc. | Noncontrolling interest | Total stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, April 2, 2022 | 51,157 | $ | 511 | $ | 302,583 | $ | — | $ | 198,134 | $ | (74,062) | $ | 427,166 | $ | 2,298 | $ | 429,464 | ||||||||||||||||||||||||||||||||||||
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units | 873 | 9 | (9) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Acquisition of common stock for employee tax withholding | (2,430) | — | — | (2,430) | — | (2,430) | |||||||||||||||||||||||||||||||||||||||||||||||
Retirement of common stock | (223) | (2) | (2,428) | 2,430 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 4,629 | — | — | — | 4,629 | — | 4,629 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | — | — | — | — | (19,074) | — | (19,074) | 139 | (18,935) | ||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | — | (13,017) | (13,017) | — | (13,017) | ||||||||||||||||||||||||||||||||||||||||||||
Distribution of noncontrolling interest earnings | — | — | — | — | — | — | — | (5,686) | (5,686) | ||||||||||||||||||||||||||||||||||||||||||||
Balance, July 2, 2022 | 51,807 | $ | 518 | $ | 304,775 | $ | — | $ | 179,060 | $ | (87,079) | $ | 397,274 | $ | (3,249) | $ | 394,025 |
For the 13 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | Additional paid-in capital | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | Stockholders' equity attributable to Fossil Group, Inc. | Noncontrolling interest | Total stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, April 3, 2021 | 51,526 | $ | 515 | $ | 295,287 | $ | — | $ | 179,258 | $ | (67,279) | $ | 407,781 | $ | 1,043 | $ | 408,824 | ||||||||||||||||||||||||||||||||||||
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units | 759 | 7 | (7) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Acquisition of common stock for employee tax withholding | — | — | — | (2,094) | — | — | (2,094) | — | (2,094) | ||||||||||||||||||||||||||||||||||||||||||||
Retirement of common stock | (158) | (1) | (2,093) | 2,094 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 2,517 | — | — | — | 2,517 | — | 2,517 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | — | — | — | — | (1,192) | — | (1,192) | 427 | (765) | ||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | — | 845 | 845 | — | 845 | ||||||||||||||||||||||||||||||||||||||||||||
Balance, July 3, 2021 | 52,127 | $ | 521 | $ | 295,704 | $ | — | $ | 178,066 | $ | (66,434) | $ | 407,857 | $ | 1,470 | $ | 409,327 |
For the 26 Weeks Ended July 2, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | Additional paid-in capital | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | Stockholders' equity attributable to Fossil Group, Inc. | Noncontrolling interest | Total stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, January 1, 2022 | 52,146 | $ | 521 | $ | 300,848 | $ | — | $ | 229,132 | $ | (67,275) | $ | 463,226 | $ | 2,132 | $ | 465,358 | ||||||||||||||||||||||||||||||||||||
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units | 874 | 9 | (9) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Acquisition of common stock for employee tax withholding | — | — | — | (12,430) | — | — | (12,430) | — | (12,430) | ||||||||||||||||||||||||||||||||||||||||||||
Retirement of common stock | (1,213) | (12) | (2,934) | 12,430 | (9,484) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 6,870 | — | — | — | 6,870 | — | 6,870 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | — | — | — | — | (40,588) | — | (40,588) | 305 | (40,283) | ||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | — | (19,804) | (19,804) | (19,804) | |||||||||||||||||||||||||||||||||||||||||||||
Distribution of noncontrolling interest earnings | — | — | — | — | — | — | — | (5,686) | (5,686) | ||||||||||||||||||||||||||||||||||||||||||||
Balance, July 2, 2022 | 51,807 | $ | 518 | $ | 304,775 | $ | — | $ | 179,060 | $ | (87,079) | $ | 397,274 | $ | (3,249) | $ | 394,025 |
For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | Additional paid-in capital | Treasury stock | Retained earnings | Accumulated other comprehensive income (loss) | Stockholders' equity attributable to Fossil Group, Inc. | Noncontrolling interest | Total stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||
Shares | Par value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, January 2, 2021 | 51,474 | $ | 515 | $ | 293,777 | $ | — | $ | 203,698 | $ | (58,900) | $ | 439,090 | $ | 942 | $ | 440,032 | ||||||||||||||||||||||||||||||||||||
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units | 836 | 8 | (8) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Acquisition of common stock for employee tax withholding | — | — | — | (2,349) | — | — | (2,349) | — | (2,349) | ||||||||||||||||||||||||||||||||||||||||||||
Retirement of common stock | (183) | (2) | (2,347) | 2,349 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | 4,282 | — | — | — | 4,282 | — | 4,282 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | — | — | — | — | (25,632) | — | (25,632) | 528 | (25,104) | ||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | — | (7,534) | (7,534) | — | (7,534) | ||||||||||||||||||||||||||||||||||||||||||||
Balance, July 3, 2021 | 52,127 | $ | 521 | $ | 295,704 | $ | — | $ | 178,066 | $ | (66,434) | $ | 407,857 | $ | 1,470 | $ | 409,327 |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | |||||||||||||
Operating Activities: | ||||||||||||||
Net income (loss) | $ | (40,283) | $ | (25,104) | ||||||||||
Adjustments to reconcile net loss to net cash provided used in operating activities: | ||||||||||||||
Depreciation, amortization and accretion | 11,947 | 16,432 | ||||||||||||
Non-cash lease expense | 40,976 | 46,708 | ||||||||||||
Stock-based compensation | 6,085 | 4,282 | ||||||||||||
Decrease in allowance for returns and markdowns | (12,181) | (11,656) | ||||||||||||
Property, plant and equipment and other long-lived asset impairment losses | 452 | 5,771 | ||||||||||||
Non-cash restructuring charges | 876 | 1,701 | ||||||||||||
Bad debt expense | 3,917 | 380 | ||||||||||||
Other non-cash items | 7,250 | 2,705 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Accounts receivable | 70,745 | 41,802 | ||||||||||||
Inventories | (107,449) | (61,572) | ||||||||||||
Prepaid expenses and other current assets | (16,277) | 32,681 | ||||||||||||
Accounts payable | (17,339) | 35,726 | ||||||||||||
Accrued expenses | (62,676) | (44,660) | ||||||||||||
Income taxes | (3,979) | 676 | ||||||||||||
Operating lease liabilities | (47,843) | (55,643) | ||||||||||||
Net cash used in operating activities | (165,779) | (9,771) | ||||||||||||
Investing Activities: | ||||||||||||||
Additions to property, plant and equipment | (4,466) | (3,381) | ||||||||||||
Decrease in intangible and other assets | 637 | 6,733 | ||||||||||||
Proceeds from the sale of property, plant and equipment and other | 4 | 11,058 | ||||||||||||
Net cash (used in) provided by investing activities | (3,825) | 14,410 | ||||||||||||
Financing Activities: | ||||||||||||||
Acquisition of common stock | (12,431) | (2,349) | ||||||||||||
Distribution of noncontrolling interest earnings and other | (6,069) | (209) | ||||||||||||
Debt borrowings | 177,906 | 85,180 | ||||||||||||
Debt payments | (71,221) | (138,889) | ||||||||||||
Net cash provided by (used in) financing activities | 88,185 | (56,267) | ||||||||||||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (3,798) | (5,569) | ||||||||||||
Net decrease in cash, cash equivalents, and restricted cash | (85,217) | (57,197) | ||||||||||||
Cash, cash equivalents, and restricted cash: | ||||||||||||||
Beginning of period | 264,572 | 324,246 | ||||||||||||
End of period | $ | 179,355 | $ | 267,049 |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||
Numerator: | |||||||||||||||||||||||
Net income (loss) attributable to Fossil Group, Inc. | $ | (19,074) | $ | (1,192) | $ | (40,588) | $ | (25,632) | |||||||||||||||
Denominator: | |||||||||||||||||||||||
Basic EPS computation: | |||||||||||||||||||||||
Basic weighted average common shares outstanding | 51,707 | 52,040 | 51,853 | 51,779 | |||||||||||||||||||
Basic EPS | $ | (0.37) | $ | (0.02) | $ | (0.78) | $ | (0.50) | |||||||||||||||
Diluted EPS computation: | |||||||||||||||||||||||
Diluted weighted average common shares outstanding | 51,707 | 52,040 | 51,853 | 51,779 | |||||||||||||||||||
Diluted EPS | $ | (0.37) | $ | (0.02) | $ | (0.78) | $ | (0.50) |
July 2, 2022 | July 3, 2021 | ||||||||||
Cash and cash equivalents | $ | 167,067 | $ | 252,251 | |||||||
Restricted cash included in prepaid expenses and other current assets | 110 | 118 | |||||||||
Restricted cash included in intangible and other assets-net | 12,178 | 14,680 | |||||||||
Cash, cash equivalents and restricted cash | $ | 179,355 | $ | 267,049 |
For the 13 Weeks Ended July 2, 2022 | |||||||||||||||||||||||||||||
Americas | Europe | Asia | Corporate | Total | |||||||||||||||||||||||||
Product type | |||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||
Traditional watches | $ | 118,736 | $ | 70,436 | $ | 69,524 | $ | — | $ | 258,696 | |||||||||||||||||||
Smartwatches | 15,377 | 10,261 | 7,783 | — | 33,421 | ||||||||||||||||||||||||
Total watches | $ | 134,113 | $ | 80,697 | $ | 77,307 | $ | — | $ | 292,117 | |||||||||||||||||||
Leathers | 22,593 | 5,320 | 8,034 | — | 35,947 | ||||||||||||||||||||||||
Jewelry | 9,260 | 18,639 | 6,031 | — | 33,930 | ||||||||||||||||||||||||
Other | 2,306 | 3,235 | 1,210 | 2,423 | 9,174 | ||||||||||||||||||||||||
Consolidated | $ | 168,272 | $ | 107,891 | $ | 92,582 | $ | 2,423 | $ | 371,168 | |||||||||||||||||||
Timing of revenue recognition | |||||||||||||||||||||||||||||
Revenue recognized at a point in time | $ | 167,899 | $ | 107,690 | $ | 92,441 | $ | 1,058 | $ | 369,088 | |||||||||||||||||||
Revenue recognized over time | 373 | 201 | 141 | 1,365 | 2,080 | ||||||||||||||||||||||||
Consolidated | $ | 168,272 | $ | 107,891 | $ | 92,582 | $ | 2,423 | $ | 371,168 |
For the 13 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||||
Americas | Europe | Asia | Corporate | Total | |||||||||||||||||||||||||
Product type | |||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||
Traditional watches | $ | 122,701 | $ | 81,809 | $ | 85,053 | $ | 1,053 | $ | 290,616 | |||||||||||||||||||
Smartwatches | 23,878 | 13,259 | 5,932 | 13 | 43,082 | ||||||||||||||||||||||||
Total watches | $ | 146,579 | $ | 95,068 | $ | 90,985 | $ | 1,066 | $ | 333,698 | |||||||||||||||||||
Leathers | 20,833 | 6,396 | 6,118 | — | 33,347 | ||||||||||||||||||||||||
Jewelry | 7,258 | 20,154 | 5,165 | — | 32,577 | ||||||||||||||||||||||||
Other | 2,045 | 2,779 | 1,224 | 5,269 | 11,317 | ||||||||||||||||||||||||
Consolidated | $ | 176,715 | $ | 124,397 | $ | 103,492 | $ | 6,335 | $ | 410,939 | |||||||||||||||||||
Timing of revenue recognition | |||||||||||||||||||||||||||||
Revenue recognized at a point in time | $ | 176,289 | $ | 124,046 | $ | 103,328 | $ | 4,580 | $ | 408,243 | |||||||||||||||||||
Revenue recognized over time | 426 | 351 | 164 | 1,755 | 2,696 | ||||||||||||||||||||||||
Consolidated | $ | 176,715 | $ | 124,397 | $ | 103,492 | $ | 6,335 | $ | 410,939 |
For the 26 Weeks Ended July 2, 2022 | |||||||||||||||||||||||||||||
Americas | Europe | Asia | Corporate | Total | |||||||||||||||||||||||||
Product type | |||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||
Traditional watches | $ | 234,638 | $ | 151,584 | $ | 133,887 | $ | 13 | $ | 520,122 | |||||||||||||||||||
Smartwatches | 32,649 | 22,947 | 15,808 | 2 | 71,406 | ||||||||||||||||||||||||
Total watches | $ | 267,287 | $ | 174,531 | $ | 149,695 | $ | 15 | $ | 591,528 | |||||||||||||||||||
Leathers | 41,829 | 12,689 | 15,614 | — | 70,132 | ||||||||||||||||||||||||
Jewelry | 17,195 | 39,775 | 11,656 | — | 68,626 | ||||||||||||||||||||||||
Other | 3,888 | 5,447 | 2,385 | 5,015 | 16,735 | ||||||||||||||||||||||||
Consolidated | $ | 330,199 | $ | 232,442 | $ | 179,350 | $ | 5,030 | $ | 747,021 | |||||||||||||||||||
Timing of revenue recognition | |||||||||||||||||||||||||||||
Revenue recognized at a point in time | $ | 329,493 | $ | 231,991 | $ | 179,049 | $ | 2,222 | $ | 742,755 | |||||||||||||||||||
Revenue recognized over time | 706 | 451 | 301 | 2,808 | 4,266 | ||||||||||||||||||||||||
Consolidated | $ | 330,199 | $ | 232,442 | $ | 179,350 | $ | 5,030 | $ | 747,021 | |||||||||||||||||||
For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||||
Americas | Europe | Asia | Corporate | Total | |||||||||||||||||||||||||
Product type | |||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||
Traditional watches | $ | 218,037 | $ | 152,815 | $ | 161,142 | $ | 1,053 | $ | 533,047 | |||||||||||||||||||
Smartwatches | 53,102 | 26,933 | 15,949 | 16 | 96,000 | ||||||||||||||||||||||||
Total watches | $ | 271,139 | $ | 179,748 | $ | 177,091 | $ | 1,069 | $ | 629,047 | |||||||||||||||||||
Leathers | 40,462 | 12,702 | 14,287 | — | 67,451 | ||||||||||||||||||||||||
Jewelry | 14,221 | 36,420 | 8,073 | — | 58,714 | ||||||||||||||||||||||||
Other | 3,398 | 4,762 | 2,681 | 7,928 | 18,769 | ||||||||||||||||||||||||
Consolidated | $ | 329,220 | $ | 233,632 | $ | 202,132 | $ | 8,997 | $ | 773,981 | |||||||||||||||||||
Timing of revenue recognition | |||||||||||||||||||||||||||||
Revenue recognized at a point in time | $ | 328,334 | $ | 232,935 | $ | 201,868 | $ | 5,486 | $ | 768,623 | |||||||||||||||||||
Revenue recognized over time | 886 | 697 | 264 | 3,511 | 5,358 | ||||||||||||||||||||||||
Consolidated | $ | 329,220 | $ | 233,632 | $ | 202,132 | $ | 8,997 | $ | 773,981 | |||||||||||||||||||
July 2, 2022 | January 1, 2022 | ||||||||||
Components and parts | $ | 27,454 | $ | 23,668 | |||||||
Work-in-process | 207 | 2 | |||||||||
Finished goods | 410,248 | 323,180 | |||||||||
Inventories | $ | 437,909 | $ | 346,850 |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||
Beginning balance | $ | 19,159 | $ | 21,916 | |||||||
Settlements in cash or kind | (4,613) | (4,828) | |||||||||
Warranties issued and adjustments to preexisting warranties (1) | 916 | 4,311 | |||||||||
Ending balance | $ | 15,462 | $ | 21,399 |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||
Income tax (benefit) expense | $ | 2,003 | $ | 8,081 | $ | 6,690 | $ | 10,198 | |||||||||||||||
Effective tax rate | (11.8) | % | 110.5 | % | (19.9) | % | (68.4) | % |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||||||||||||||||
Fiscal Year Authorized | Dollar Value Authorized | Termination Date | Number of Shares Repurchased | Dollar Value Repurchased | Number of Shares Repurchased | Dollar Value Repurchased | |||||||||||||||||||||||||||||
2010 | $ | 30.0 | None | 1.0 | $ | 10.0 | — | $ | — |
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, 2022 | 206 | $ | 53.67 | 1.7 | $ | — | ||||||||||||||||||||
Granted | — | — | ||||||||||||||||||||||||
Exercised | — | — | — | |||||||||||||||||||||||
Forfeited or expired | (7) | 123.51 | ||||||||||||||||||||||||
Outstanding at July 2, 2022 | 199 | 51.21 | 0.8 | — | ||||||||||||||||||||||
Exercisable at July 2, 2022 | 199 | $ | 51.21 | 0.8 | $ | — |
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) | ||||||||||||||||||||||||||||||
$29.49 - $47.99 | 146 | $ | 40.92 | 0.90 | 146 | $ | 40.92 | |||||||||||||||||||||||||
$55.04 - $82.55 | 48 | 77.43 | 0.60 | 48 | 77.43 | |||||||||||||||||||||||||||
$101.37 | 5 | 101.37 | 0.04 | 5 | 101.37 | |||||||||||||||||||||||||||
Total | 199 | $ | 51.21 | 0.80 | 199 | $ | 51.21 |
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, 2022 | 1,802 | $ | 9.91 | |||||||||||
Granted | 1,244 | 10.69 | ||||||||||||
Vested | (904) | 10.20 | ||||||||||||
Forfeited | (126) | 10.98 | ||||||||||||
Nonvested at July 2, 2022 | 2,016 | $ | 10.16 |
For the 13 Weeks Ended July 2, 2022 | |||||||||||||||||||||||
Currency Translation Adjustments | Cash Flow Hedges | ||||||||||||||||||||||
Forward Contracts | Pension Plan | Total | |||||||||||||||||||||
Beginning balance | $ | (83,486) | $ | 5,442 | $ | 3,982 | $ | (74,062) | |||||||||||||||
Other comprehensive income (loss) before reclassifications | (16,087) | 5,843 | — | (10,244) | |||||||||||||||||||
Tax (expense) benefit | — | 257 | — | 257 | |||||||||||||||||||
Amounts reclassed from accumulated other comprehensive income (loss) | — | 2,750 | — | 2,750 | |||||||||||||||||||
Tax (expense) benefit | — | 280 | — | 280 | |||||||||||||||||||
Total other comprehensive income (loss) | (16,087) | 3,070 | — | (13,017) | |||||||||||||||||||
Ending balance | $ | (99,573) | $ | 8,512 | $ | 3,982 | $ | (87,079) |
For the 13 Weeks Ended July 3, 2021 | |||||||||||||||||||||||
Currency Translation Adjustments | Cash Flow Hedges | ||||||||||||||||||||||
Forward Contracts | Pension Plan | Total | |||||||||||||||||||||
Beginning balance | $ | (71,299) | $ | 2,592 | $ | 1,428 | $ | (67,279) | |||||||||||||||
Other comprehensive income (loss) before reclassifications | 1,065 | (679) | — | 386 | |||||||||||||||||||
Tax (expense) benefit | — | 18 | — | 18 | |||||||||||||||||||
Amounts reclassed from accumulated other comprehensive income (loss) | — | (404) | — | (404) | |||||||||||||||||||
Tax (expense) benefit | — | (37) | — | (37) | |||||||||||||||||||
Total other comprehensive income (loss) | 1,065 | (220) | — | 845 | |||||||||||||||||||
Ending balance | $ | (70,234) | $ | 2,372 | $ | 1,428 | $ | (66,434) |
For the 26 Weeks Ended July 2, 2022 | |||||||||||||||||||||||
Currency Translation Adjustments | Cash Flow Hedges | ||||||||||||||||||||||
Forward Contracts | Pension Plan | Total | |||||||||||||||||||||
Beginning balance | $ | (75,601) | $ | 4,344 | $ | 3,982 | $ | (67,275) | |||||||||||||||
Other comprehensive income (loss) before reclassifications | (23,972) | 8,201 | — | (15,771) | |||||||||||||||||||
Tax (expense) benefit | — | 530 | — | 530 | |||||||||||||||||||
Amounts reclassed from accumulated other comprehensive income | — | 4,203 | — | 4,203 | |||||||||||||||||||
Tax (expense) benefit | — | 360 | — | 360 | |||||||||||||||||||
Total other comprehensive income (loss) | (23,972) | 4,168 | — | (19,804) | |||||||||||||||||||
Ending balance | $ | (99,573) | $ | 8,512 | $ | 3,982 | $ | (87,079) |
For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||||||
Currency Translation Adjustments | Cash Flow Hedges | ||||||||||||||||||||||
Forward Contracts | Pension Plan | Total | |||||||||||||||||||||
Beginning balance | $ | (61,178) | $ | 850 | $ | 1,428 | $ | (58,900) | |||||||||||||||
Other comprehensive income (loss) before reclassifications | (9,056) | 613 | — | (8,443) | |||||||||||||||||||
Tax (expense) benefit | — | (219) | — | (219) | |||||||||||||||||||
Amounts reclassed from accumulated other comprehensive income (loss) | — | (1,055) | — | (1,055) | |||||||||||||||||||
Tax (expense) benefit | — | (73) | — | (73) | |||||||||||||||||||
Total other comprehensive income (loss) | (9,056) | 1,522 | — | (7,534) | |||||||||||||||||||
Ending balance | $ | (70,234) | $ | 2,372 | $ | 1,428 | $ | (66,434) |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | ||||||||||||||||||||||
Net Sales | Operating Income (Loss) | Net Sales | Operating Income (Loss) | ||||||||||||||||||||
Americas | $ | 168,272 | $ | 30,653 | $ | 176,715 | $ | 36,553 | |||||||||||||||
Europe | 107,891 | 14,846 | 124,397 | 22,040 | |||||||||||||||||||
Asia | 92,582 | 12,351 | 103,492 | 14,834 | |||||||||||||||||||
Corporate | 2,423 | (68,786) | 6,335 | (59,080) | |||||||||||||||||||
Consolidated | $ | 371,168 | $ | (10,936) | $ | 410,939 | $ | 14,347 |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||||
Net Sales | Operating Income (Loss) | Net Sales | Operating Income (Loss) | ||||||||||||||||||||
Americas | $ | 330,199 | $ | 54,563 | $ | 329,220 | $ | 62,582 | |||||||||||||||
Europe | 232,442 | 34,414 | 233,632 | 27,067 | |||||||||||||||||||
Asia | 179,350 | 21,291 | 202,132 | 26,557 | |||||||||||||||||||
Corporate | 5,030 | (135,487) | 8,997 | (118,614) | |||||||||||||||||||
Consolidated | $ | 747,021 | $ | (25,219) | $ | 773,981 | $ | (2,408) | |||||||||||||||
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | ||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | ||||||||||||||||||||
Watches: | |||||||||||||||||||||||
Traditional watches | $ | 258,696 | 69.7 | % | $ | 290,616 | 70.8 | % | |||||||||||||||
Smartwatches | 33,421 | 9.0 | 43,082 | 10.5 | |||||||||||||||||||
Total watches | $ | 292,117 | 78.7 | % | $ | 333,698 | 81.3 | % | |||||||||||||||
Leathers | 35,947 | 9.7 | 33,347 | 8.1 | |||||||||||||||||||
Jewelry | 33,930 | 9.1 | 32,577 | 7.9 | |||||||||||||||||||
Other | 9,174 | 2.5 | 11,317 | 2.7 | |||||||||||||||||||
Total | $ | 371,168 | 100.0 | % | $ | 410,939 | 100.0 | % |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | |||||||||||||||||
Watches: | ||||||||||||||||||||
Traditional watches | $ | 520,122 | 69.6 | % | $ | 533,047 | 68.9 | % | ||||||||||||
Smartwatches | 71,406 | 9.6 | 96,000 | 12.4 | ||||||||||||||||
Total watches | $ | 591,528 | 79.2 | % | $ | 629,047 | 81.3 | % | ||||||||||||
Leathers | 70,132 | 9.4 | 67,451 | 8.7 | ||||||||||||||||
Jewelry | 68,626 | 9.2 | 58,714 | 7.6 | ||||||||||||||||
Other | 16,735 | 2.2 | 18,769 | 2.4 | ||||||||||||||||
Total | $ | 747,021 | 100.0 | % | $ | 773,981 | 100.0 | % | ||||||||||||
Functional Currency | Contract Currency | |||||||||||||||||||
Type | Amount | Type | Amount | |||||||||||||||||
Euro | 56.8 | U.S. dollar | 66.3 | |||||||||||||||||
Canadian dollar | 18.5 | U.S. dollar | 14.7 | |||||||||||||||||
Japanese yen | 823.7 | U.S. dollar | 7.3 | |||||||||||||||||
British pound | 4.3 | U.S. dollar | 5.9 | |||||||||||||||||
Mexican peso | 77.7 | U.S. dollar | 3.7 | |||||||||||||||||
Australian dollar | 3.7 | U.S. dollar | 2.7 | |||||||||||||||||
U.S. dollar | 6.4 | Japanese yen | 740.0 |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | ||||||||||
Cash flow hedges: | |||||||||||
Forward contracts | $ | 6,100 | $ | (661) | |||||||
Total gain (loss) recognized in other comprehensive income (loss), net of taxes | $ | 6,100 | $ | (661) |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||
Cash flow hedges: | |||||||||||
Forward contracts | $ | 8,730 | $ | 394 | |||||||
Total gain (loss) recognized in other comprehensive income (loss), net of taxes | $ | 8,730 | $ | 394 | |||||||
Derivative Instruments | Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location | Effect of Derivative Instruments | For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | ||||||||||||||||||||||
Forward contracts designated as cash flow hedging instruments | Cost of sales | Total gain (loss) reclassified from accumulated other comprehensive income (loss) | $ | 2,038 | $ | (432) | ||||||||||||||||||||
Forward contracts designated as cash flow hedging instruments | Other income (expense)-net | Total gain (loss) reclassified from accumulated other comprehensive income (loss) | $ | 992 | $ | (9) | ||||||||||||||||||||
Forward contracts not designated as hedging instruments | Other income (expense)-net | Total gain (loss) recognized in income | $ | 61 | $ | (14) | ||||||||||||||||||||
Derivative Instruments | Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location | Effect of Derivative Instruments | For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||||
Forward contracts designated as cash flow hedging instruments | Cost of sales | Total gain (loss) reclassified from accumulated other comprehensive income (loss) | $ | 3,040 | $ | 249 | ||||||||||||||||||||
Forward contracts designated as cash flow hedging instruments | Other income (expense)-net | Total gain (loss) reclassified from accumulated other comprehensive income (loss) | $ | 1,523 | $ | (1,376) | ||||||||||||||||||||
Forward contracts not designated as hedging instruments | Other income (expense)-net | Total gain (loss) recognized in income | $ | 7 | $ | (73) | ||||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||||||||||||||||||||||||||||||||||
July 2, 2022 | January 1, 2022 | July 2, 2022 | January 1, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 8,775 | Prepaid expenses and other current assets | $ | 3,452 | Accrued expenses-other | $ | 1,052 | Accrued expenses-other | $ | 177 | ||||||||||||||||||||||||||||||||||||||
Forward contracts not designated as cash flow hedging instruments | Prepaid expenses and other current assets | 76 | Prepaid expenses and other current assets | — | Accrued expenses-other | — | Accrued expenses-other | — | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 8,851 | $ | 3,452 | $ | 1,052 | $ | 177 |
Effect of Derivative Instruments | ||||||||||||||||||||||||||
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||
Cost of Sales | Other Income (Expense)-net | Cost of Sales | Other Income (Expense)-net | |||||||||||||||||||||||
Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded | $ | 179,819 | $ | (1,674) | $ | 189,100 | $ | (500) | ||||||||||||||||||
Gain (loss) on cash flow hedging relationships: | ||||||||||||||||||||||||||
Forward contracts designated as cash flow hedging instruments: | ||||||||||||||||||||||||||
Total gain (loss) reclassified from other comprehensive income (loss) | $ | 2,038 | $ | 992 | $ | (432) | $ | (9) | ||||||||||||||||||
Forward contracts not designated as hedging instruments: | ||||||||||||||||||||||||||
Total gain (loss) recognized in income | $ | — | $ | 61 | $ | — | $ | (14) |
Effect of Derivative Instruments | ||||||||||||||||||||||||||
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||
Cost of Sales | Other Income (Expense)-net | Cost of Sales | Other Income (Expense)-net | |||||||||||||||||||||||
Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded | $ | 371,359 | $ | (56) | $ | 369,553 | $ | 1,365 | ||||||||||||||||||
Gain (loss) on cash flow hedging relationships: | ||||||||||||||||||||||||||
Forward contracts designated as cash flow hedging instruments: | ||||||||||||||||||||||||||
Total gain (loss) reclassified from other comprehensive income (loss) | $ | 3,040 | $ | 1,523 | $ | 249 | $ | (1,376) | ||||||||||||||||||
Forward contracts not designated as hedging instruments: | ||||||||||||||||||||||||||
Total gain (loss) recognized in income | $ | — | $ | 7 | $ | — | $ | (73) | ||||||||||||||||||
Fair Value at July 2, 2022 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Forward contracts | $ | — | $ | 8,851 | $ | — | $ | 8,851 | |||||||||||||||
Total | $ | — | $ | 8,851 | $ | — | $ | 8,851 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | 2,221 | $ | 2,221 | |||||||||||||||
Forward contracts | — | 1,052 | — | 1,052 | |||||||||||||||||||
Total | $ | — | $ | 1,052 | $ | 2,221 | $ | 3,273 |
Fair Value at January 1, 2022 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Forward contracts | $ | — | $ | 3,452 | $ | — | $ | 3,452 | |||||||||||||||
Total | $ | — | $ | 3,452 | $ | — | $ | 3,452 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | 1,840 | $ | 1,840 | |||||||||||||||
Forward contracts | — | 177 | — | 177 | |||||||||||||||||||
Total | $ | — | $ | 177 | $ | 1,840 | $ | 2,017 |
July 2, 2022 | January 1, 2022 | |||||||||||||||||||||||||||||||
Useful | Gross | Accumulated | Gross | Accumulated | ||||||||||||||||||||||||||||
Lives | Amount | Amortization | Amount | Amortization | ||||||||||||||||||||||||||||
Intangibles-subject to amortization: | ||||||||||||||||||||||||||||||||
Trademarks | 10 yrs. | $ | 3,775 | $ | 3,347 | $ | 3,775 | $ | 3,310 | |||||||||||||||||||||||
Customer lists | 5 - 10 yrs. | 38,287 | 37,776 | 41,403 | 40,353 | |||||||||||||||||||||||||||
Patents | 3 - 20 yrs. | 2,371 | 2,031 | 2,371 | 2,013 | |||||||||||||||||||||||||||
Developed technology | 7 yrs. | 2,193 | 1,919 | 2,193 | 1,645 | |||||||||||||||||||||||||||
Trade name | 6 yrs. | 4,502 | 2,063 | 4,502 | 1,688 | |||||||||||||||||||||||||||
Other | 7 - 20 yrs. | 529 | 365 | 537 | 352 | |||||||||||||||||||||||||||
Total intangibles-subject to amortization | 51,657 | 47,501 | 54,781 | 49,361 | ||||||||||||||||||||||||||||
Intangibles-not subject to amortization: | ||||||||||||||||||||||||||||||||
Trade names | 8,859 | 8,881 | ||||||||||||||||||||||||||||||
Other assets: | ||||||||||||||||||||||||||||||||
Deposits | 17,765 | 19,418 | ||||||||||||||||||||||||||||||
Deferred tax asset-net | 21,069 | 24,552 | ||||||||||||||||||||||||||||||
Restricted cash | 12,178 | 13,611 | ||||||||||||||||||||||||||||||
Investments | 327 | 327 | ||||||||||||||||||||||||||||||
Debt issuance costs | 3,746 | 4,578 | ||||||||||||||||||||||||||||||
Other | 1,362 | 1,813 | ||||||||||||||||||||||||||||||
Total other assets | 56,447 | 64,299 | ||||||||||||||||||||||||||||||
Total intangible and other assets | $ | 116,963 | $ | 47,501 | $ | 127,961 | $ | 49,361 | ||||||||||||||||||||||||
Total intangible and other assets-net | $ | 69,462 | $ | 78,600 |
Fiscal Year | Amortization Expense | |||||||
2022 (remaining) | $ | 1,218 | ||||||
2023 | $ | 901 | ||||||
2024 | $ | 884 | ||||||
2025 | $ | 693 | ||||||
2026 | $ | 102 | ||||||
Thereafter | $ | 358 |
Lease Cost | Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location | For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||
Operating lease cost(1 | SG&A | $ | 19,465 | $ | 21,727 | $ | 39,556 | $ | 45,094 | |||||||||||||||||||||||
Short-term lease cost | SG&A | $ | 216 | $ | 152 | $ | 400 | $ | 320 | |||||||||||||||||||||||
Variable lease cost | SG&A | $ | 7,703 | $ | 5,373 | $ | 14,651 | $ | 10,780 |
Leases | Condensed Consolidated Balance Sheets Location | July 2, 2022 | January 1, 2022 | |||||||||||||||||
Assets | ||||||||||||||||||||
Operating | Operating lease ROU assets | $ | 168,615 | $ | 177,597 | |||||||||||||||
Liabilities | ||||||||||||||||||||
Current: | ||||||||||||||||||||
Operating | Current operating lease liabilities | $ | 51,518 | $ | 58,721 | |||||||||||||||
Noncurrent: | ||||||||||||||||||||
Operating | Long-term operating lease liabilities | $ | 163,908 | $ | 174,520 | |||||||||||||||
Lease Term and Discount Rate | July 2, 2022 | January 1, 2022 | ||||||||||||
Weighted-average remaining lease term: | ||||||||||||||
Operating leases | 5.7 years | 5.7 years | ||||||||||||
Weighted-average discount rate: | ||||||||||||||
Operating leases | 14.1 | % | 14.1 | % | ||||||||||
Fiscal Year | Operating Leases | |||||||
2022 (remaining) | $ | 44,213 | ||||||
2023 | 74,225 | |||||||
2024 | 50,252 | |||||||
2025 | 35,277 | |||||||
2026 | 28,622 | |||||||
Thereafter | 95,797 | |||||||
Total lease payments | $ | 328,386 | ||||||
Less: Interest | 112,960 | |||||||
Total lease obligations | $ | 215,426 |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||
Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
Operating cash flows from operating leases | $ | 47,191 | $ | 55,643 | |||||||
Leased assets obtained in exchange for new operating lease liabilities | 20,506 | 8,474 |
For the 13 Weeks Ended July 2, 2022 | |||||||||||||||||||||||||||||
Liabilities | Liabilities | ||||||||||||||||||||||||||||
April 2, 2022 | Charges | Cash Payments | Non-cash Items | July 2, 2022 | |||||||||||||||||||||||||
Store closures | $ | 264 | $ | — | $ | 264 | $ | — | $ | — | |||||||||||||||||||
Professional services | 357 | — | 227 | — | 130 | ||||||||||||||||||||||||
Severance and employee-related benefits | 4,528 | 2,887 | 3,014 | 785 | 3,616 | ||||||||||||||||||||||||
Total | $ | 5,149 | $ | 2,887 | $ | 3,505 | $ | 785 | $ | 3,746 |
For the 13 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||||
Liabilities | Liabilities | ||||||||||||||||||||||||||||
April 3, 2021 | Charges | Cash Payments | Non-cash Items | July 3, 2021 | |||||||||||||||||||||||||
Store closures | $ | 51 | $ | 1,447 | $ | — | $ | 1,479 | $ | 19 | |||||||||||||||||||
Professional services | 541 | 2,821 | 1,286 | — | 2,076 | ||||||||||||||||||||||||
Severance and employee-related benefits | 8,552 | 1,481 | 4,277 | — | 5,756 | ||||||||||||||||||||||||
Total | $ | 9,144 | $ | 5,749 | $ | 5,563 | $ | 1,479 | $ | 7,851 |
For the 26 Weeks Ended July 2, 2022 | |||||||||||||||||||||||||||||
Liabilities | Liabilities | ||||||||||||||||||||||||||||
January 1, 2022 | Charges | Cash Payments | Non-cash Items | July 2, 2022 | |||||||||||||||||||||||||
Store closures | $ | 300 | $ | 405 | $ | 613 | $ | 92 | $ | — | |||||||||||||||||||
Professional services | 643 | 135 | 648 | — | 130 | ||||||||||||||||||||||||
Severance and employee-related benefits | 4,388 | 4,898 | 4,885 | 785 | 3,616 | ||||||||||||||||||||||||
Total | $ | 5,331 | $ | 5,438 | $ | 6,146 | $ | 877 | $ | 3,746 | |||||||||||||||||||
For the 26 Weeks Ended July 3, 2021 | |||||||||||||||||||||||||||||
Liabilities | Liabilities | ||||||||||||||||||||||||||||
January 2, 2021 | Charges | Cash Payments | Non-cash Items | July 3, 2021 | |||||||||||||||||||||||||
Store closures | $ | 240 | $ | 1,670 | $ | 190 | $ | 1,701 | $ | 19 | |||||||||||||||||||
Professional services | $ | 2,280 | $ | 3,407 | $ | 3,611 | — | $ | 2,076 | ||||||||||||||||||||
Severance and employee-related benefits | 7,741 | 8,193 | 10,178 | — | 5,756 | ||||||||||||||||||||||||
Total | $ | 10,261 | $ | 13,270 | $ | 13,979 | $ | 1,701 | $ | 7,851 | |||||||||||||||||||
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | ||||||||||||||||||||
Americas | $ | 36 | $ | 707 | $ | 83 | $ | 1,379 | |||||||||||||||
Europe | 282 | 1,781 | 1,531 | 7,044 | |||||||||||||||||||
Asia | 40 | 895 | 1,204 | 1,806 | |||||||||||||||||||
Corporate | 2,529 | 2,366 | 2,620 | 3,041 | |||||||||||||||||||
Consolidated | $ | 2,887 | $ | 5,749 | $ | 5,438 | $ | 13,270 |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | Growth (Decline) | |||||||||||||||||||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | Dollars | Percentage As Reported | Percentage Constant Currency | |||||||||||||||||||||||||||||||||||
Americas | $ | 168.3 | 45.3 | % | $ | 176.7 | 43.0 | % | $ | (8.4) | (4.8) | % | (4.3) | % | |||||||||||||||||||||||||||
Europe | 107.9 | 29.1 | 124.4 | 30.3 | (16.5) | (13.3) | (3.2) | ||||||||||||||||||||||||||||||||||
Asia | 92.6 | 24.9 | 103.5 | 25.2 | (10.9) | (10.5) | (6.4) | ||||||||||||||||||||||||||||||||||
Corporate | 2.4 | 0.7 | 6.3 | 1.5 | (3.9) | (61.9) | (60.3) | ||||||||||||||||||||||||||||||||||
Total | $ | 371.2 | 100.0 | % | $ | 410.9 | 100.0 | % | $ | (39.7) | (9.7) | % | (5.4) | % |
July 3, 2021 | Opened | Closed | July 2, 2022 | ||||||||||||||||||||
Americas | 166 | 0 | 9 | 157 | |||||||||||||||||||
Europe | 133 | 1 | 21 | 113 | |||||||||||||||||||
Asia | 87 | 4 | 12 | 79 | |||||||||||||||||||
Total stores | 386 | 5 | 42 | 349 |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | ||||||||||||||||||||||||||||||||||||||||
Growth (Decline) | |||||||||||||||||||||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | Dollars | Percentage As Reported | Percentage Constant Currency | |||||||||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||||||||||||||
Traditional watches | $ | 118.7 | 70.5 | % | $ | 122.7 | 69.4 | % | $ | (4.0) | (3.3) | % | (2.8) | % | |||||||||||||||||||||||||||
Smartwatches | 15.4 | 9.2 | 23.9 | 13.5 | (8.5) | (35.6) | (35.4) | ||||||||||||||||||||||||||||||||||
Total watches | $ | 134.1 | 79.7 | % | $ | 146.6 | 82.9 | % | $ | (12.5) | (8.5) | (8.1) | |||||||||||||||||||||||||||||
Leathers | 22.6 | 13.4 | 20.8 | 11.8 | 1.8 | 8.7 | 9.5 | ||||||||||||||||||||||||||||||||||
Jewelry | 9.3 | 5.5 | 7.3 | 4.1 | 2.0 | 27.4 | 28.0 | ||||||||||||||||||||||||||||||||||
Other | 2.3 | 1.4 | 2.0 | 1.2 | % | 0.3 | 15.0 | 16.2 | |||||||||||||||||||||||||||||||||
Total | $ | 168.3 | 100.0 | % | $ | 176.7 | 100.0 | % | $ | (8.4) | (4.8) | % | (4.3) | % |
For the 13 Weeks Ended July 2, 2022 | For the 13 Weeks Ended July 3, 2021 | Change | Operating Margin % | ||||||||||||||||||||||||||||||||
Dollars | Percentage | 2022 | 2021 | ||||||||||||||||||||||||||||||||
Americas | $ | 30.7 | $ | 36.6 | $ | (5.9) | (16.1) | % | 18.2 | % | 20.7 | % | |||||||||||||||||||||||
Europe | 14.8 | 22.0 | (7.2) | (32.7) | 13.8 | 17.7 | |||||||||||||||||||||||||||||
Asia | 12.4 | 14.8 | (2.4) | (16.2) | 13.3 | 14.3 | |||||||||||||||||||||||||||||
Corporate | (68.8) | (59.1) | (9.7) | (16.4) | |||||||||||||||||||||||||||||||
Total operating income (loss) | $ | (10.9) | $ | 14.3 | $ | (25.2) | (176.2) | % | (2.9) | % | 3.5 | % |
For the 13 Weeks Ended | |||||||||||||||||||||||||||||
July, 2 2022 | July 3, 2021 | ||||||||||||||||||||||||||||
Dollars | % of Net Sales | Dollars | % of Net Sales | ||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (16.9) | (4.6)% | $ | 7.3 | 1.8 | % | ||||||||||||||||||||||
Plus: | |||||||||||||||||||||||||||||
Interest expense | 4.3 | 6.5 | |||||||||||||||||||||||||||
Amortization and depreciation | 5.8 | 7.5 | |||||||||||||||||||||||||||
Impairment expense | 0.2 | 1.3 | |||||||||||||||||||||||||||
Other non-cash charges | (0.2) | (0.4) | |||||||||||||||||||||||||||
Stock-based compensation | 3.8 | 2.5 | |||||||||||||||||||||||||||
Restructuring expense | 2.9 | 5.7 | |||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Interest income | 0.2 | 0.1 | |||||||||||||||||||||||||||
Adjusted EBITDA | $ | (0.3) | (0.1) | % | $ | 30.3 | 7.4 | % |
For the 13 Weeks Ended July 2, 2022 | ||||||||||||||
($ in millions, except per share data): | As Reported | Other Long-Lived Asset Impairment | Restructuring Expenses | As Adjusted | ||||||||||
Operating income (loss) | $ | (10.9) | $ | 0.2 | $ | 2.9 | $ | (7.8) | ||||||
Operating margin (% of net sales) | (2.9) | % | (2.1) | % | ||||||||||
Interest expense | $ | (4.3) | $ | — | $ | — | $ | (4.3) | ||||||
Other income (expense) - net | (1.7) | — | — | (1.7) | ||||||||||
Income (loss) before income taxes | (16.9) | 0.2 | 2.9 | (13.8) | ||||||||||
Provision for income taxes | 2.0 | — | 0.6 | 2.6 | ||||||||||
Less: net income attributable to noncontrolling interest | (0.2) | — | — | (0.2) | ||||||||||
Net income (loss) attributable to Fossil Group, Inc. | $ | (19.1) | $ | 0.2 | $ | 2.3 | $ | (16.6) | ||||||
Diluted earnings (loss) per share | $ | (0.37) | $ | — | $ | 0.04 | $ | (0.33) |
For the 13 Weeks Ended July 3, 2021 | ||||||||||||||
($ in millions, except per share data): | As Reported | Other Long-Lived Asset Impairment | Restructuring Expenses | As Adjusted | ||||||||||
Operating income (loss) | $ | 14.3 | $ | 1.3 | $ | 5.7 | $ | 21.3 | ||||||
Operating margin (% of net sales) | 3.5 | % | 5.2 | % | ||||||||||
Interest expense | $ | (6.5) | $ | — | $ | — | $ | (6.5) | ||||||
Other income (expense) - net | (0.5) | — | — | (0.5) | ||||||||||
Income (loss) before income taxes | 7.3 | 1.3 | 5.7 | 14.3 | ||||||||||
Provision for income taxes | 8.1 | 0.3 | 1.2 | 9.6 | ||||||||||
Less: Net income attributable to noncontrolling interest | (0.4) | — | — | (0.4) | ||||||||||
Net income (loss) attributable to Fossil Group, Inc. | $ | (1.2) | $ | 1.0 | $ | 4.5 | $ | 4.3 | ||||||
Diluted earnings (loss) per share | $ | (0.02) | $ | 0.02 | $ | 0.09 | $ | 0.08 |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | Growth (Decline) | |||||||||||||||||||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | Dollars | Percentage As Reported | Percentage Constant Currency | |||||||||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||||||||||||||
Traditional watches | $ | 520.1 | 69.6 | % | $ | 533.0 | 68.9 | % | $ | (12.9) | (2.4) | % | 0.7 | % | |||||||||||||||||||||||||||
Smartwatches | 71.4 | 9.6 | 96.0 | 12.4 | (24.6) | (25.6) | (22.4) | ||||||||||||||||||||||||||||||||||
Total watches | $ | 591.5 | 79.2 | % | $ | 629.0 | 81.3 | % | $ | (37.5) | (6.0) | (2.8) | |||||||||||||||||||||||||||||
Leathers | 70.1 | 9.4 | 67.5 | 8.7 | 2.6 | 3.9 | 6.8 | ||||||||||||||||||||||||||||||||||
Jewelry | 68.6 | 9.2 | 58.7 | 7.6 | 9.9 | 16.9 | 23.3 | ||||||||||||||||||||||||||||||||||
Other | 16.8 | 2.2 | 18.8 | 2.4 | (2.0) | (10.6) | (6.6) | ||||||||||||||||||||||||||||||||||
Total | $ | 747.0 | 100.0 | % | $ | 774.0 | 100.0 | % | $ | (27.0) | (3.5) | % | (0.1) | % |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | Growth (Decline) | |||||||||||||||||||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | Dollars | Percentage As Reported | Percentage Constant Currency | |||||||||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||||||||||||||
Traditional watches | $ | 234.6 | 71.0 | % | $ | 218.0 | 66.2 | % | $ | 16.6 | 7.6 | % | 7.9 | % | |||||||||||||||||||||||||||
Smartwatches | 32.7 | 10.0 | 53.1 | 16.2 | (20.4) | (38.4) | (38.4) | ||||||||||||||||||||||||||||||||||
Total watches | $ | 267.3 | 81.0 | % | $ | 271.1 | 82.4 | % | $ | (3.8) | (1.4) | (1.2) | |||||||||||||||||||||||||||||
Leathers | 41.8 | 12.7 | 40.5 | 12.3 | 1.3 | 3.2 | 3.7 | ||||||||||||||||||||||||||||||||||
Jewelry | 17.2 | 5.2 | 14.2 | 4.3 | 3.0 | 21.1 | 21.7 | ||||||||||||||||||||||||||||||||||
Other | 3.9 | 1.1 | 3.4 | 1.0 | 0.5 | 14.7 | 14.9 | ||||||||||||||||||||||||||||||||||
Total | $ | 330.2 | 100.0 | % | $ | 329.2 | 100.0 | % | $ | 1.0 | 0.3 | % | 0.6 | % |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | Growth (Decline) | |||||||||||||||||||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | Dollars | Percentage As Reported | Percentage Constant Currency | |||||||||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||||||||||||||
Traditional watches | $ | 151.6 | 65.2 | % | $ | 152.8 | 65.4 | % | $ | (1.2) | (0.8) | % | 7.0 | % | |||||||||||||||||||||||||||
Smartwatches | 22.9 | 9.9 | 26.9 | 11.5 | (4.0) | (14.9) | (6.5) | ||||||||||||||||||||||||||||||||||
Total watches | $ | 174.5 | 75.1 | % | $ | 179.7 | 76.9 | % | $ | (5.2) | (2.9) | 5.0 | |||||||||||||||||||||||||||||
Leathers | 12.7 | 5.5 | 12.7 | 5.4 | — | — | 8.5 | ||||||||||||||||||||||||||||||||||
Jewelry | 39.8 | 17.1 | 36.5 | 15.6 | 3.3 | 9.0 | 18.7 | ||||||||||||||||||||||||||||||||||
Other | 5.4 | 2.3 | 4.8 | 2.1 | 0.6 | 12.5 | 23.9 | ||||||||||||||||||||||||||||||||||
Total | $ | 232.4 | 100.0 | % | $ | 233.7 | 100.0 | % | $ | (1.3) | (0.6) | % | 7.7 | % |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | Growth (Decline) | |||||||||||||||||||||||||||||||||||||||
Net Sales | Percentage of Total | Net Sales | Percentage of Total | Dollars | Percentage As Reported | Percentage Constant Currency | |||||||||||||||||||||||||||||||||||
Watches: | |||||||||||||||||||||||||||||||||||||||||
Traditional watches | $ | 133.9 | 74.6 | % | $ | 161.1 | 79.7 | % | $ | (27.2) | (16.9) | % | (14.4) | % | |||||||||||||||||||||||||||
Smartwatches | 15.8 | 8.8 | 15.9 | 7.9 | (0.1) | (0.6) | 4.7 | ||||||||||||||||||||||||||||||||||
Total watches | $ | 149.7 | 83.4 | % | $ | 177.0 | 87.6 | % | $ | (27.3) | (15.4) | (12.7) | |||||||||||||||||||||||||||||
Leathers | 15.6 | 8.7 | 14.3 | 7.1 | 1.3 | 9.1 | 13.7 | ||||||||||||||||||||||||||||||||||
Jewelry | 11.7 | 6.5 | 8.1 | 4.0 | 3.6 | 44.4 | 47.2 | ||||||||||||||||||||||||||||||||||
Other | 2.4 | 1.4 | 2.7 | 1.3 | (0.3) | (11.1) | (4.1) | ||||||||||||||||||||||||||||||||||
Total | $ | 179.4 | 100.0 | % | $ | 202.1 | 100.0 | % | $ | (22.7) | (11.2) | % | (8.3) | % |
For the 26 Weeks Ended July 2, 2022 | For the 26 Weeks Ended July 3, 2021 | Change | Operating Margin % | ||||||||||||||||||||||||||||||||
Dollars | Percentage | 2022 | 2021 | ||||||||||||||||||||||||||||||||
Americas | $ | 54.6 | $ | 62.6 | $ | (8.0) | (12.8) | % | 16.5 | % | 19.0 | % | |||||||||||||||||||||||
Europe | 34.4 | 27.1 | 7.3 | 26.9 | 14.8 | 11.6 | |||||||||||||||||||||||||||||
Asia | 21.3 | 26.6 | (5.3) | (19.9) | 11.9 | 13.1 | |||||||||||||||||||||||||||||
Corporate | (135.5) | (118.7) | (16.8) | (14.2) | |||||||||||||||||||||||||||||||
Total operating income (loss) | $ | (25.2) | $ | (2.4) | $ | (22.8) | (950.0) | % | (3.4) | % | (0.3) | % |
For the 26 Weeks Ended | |||||||||||||||||||||||||||||
July, 2 2022 | July 3, 2021 | ||||||||||||||||||||||||||||
Dollars | % of Net Sales | Dollars | % of Net Sales | ||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (33.6) | (4.5)% | $ | (14.9) | (1.9) | % | ||||||||||||||||||||||
Plus: | |||||||||||||||||||||||||||||
Interest expense | 8.3 | 13.9 | |||||||||||||||||||||||||||
Amortization and depreciation | 11.9 | 16.4 | |||||||||||||||||||||||||||
Impairment expense | 0.5 | 5.8 | |||||||||||||||||||||||||||
Other non-cash charges | (0.3) | (0.8) | |||||||||||||||||||||||||||
Stock-based compensation | 6.1 | 4.3 | |||||||||||||||||||||||||||
Restructuring expense | 5.4 | 13.3 | |||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Interest income | 0.3 | 0.2 | |||||||||||||||||||||||||||
Adjusted EBITDA | $ | (2.0) | (0.3) | % | $ | 37.8 | 4.9 | % |
For the 26 Weeks Ended July 2, 2022 | ||||||||||||||
($ in millions, except per share data): | As Reported | Other Long-Lived Asset Impairment | Restructuring Expenses | As Adjusted | ||||||||||
Operating income (loss) | $ | (25.2) | $ | 0.5 | $ | 5.4 | $ | (19.3) | ||||||
Operating margin (% of net sales) | (3.4) | % | (2.6) | % | ||||||||||
Interest expense | $ | (8.3) | $ | — | $ | — | $ | (8.3) | ||||||
Other income (expense) - net | (0.1) | — | — | (0.1) | ||||||||||
Income (loss) before income taxes | (33.6) | 0.5 | 5.4 | (27.7) | ||||||||||
Provision for income taxes | 6.7 | 0.1 | 1.1 | 7.9 | ||||||||||
Less: net income attributable to noncontrolling interest | (0.3) | — | — | (0.3) | ||||||||||
Net income (loss) attributable to Fossil Group, Inc. | $ | (40.6) | $ | 0.4 | $ | 4.3 | $ | (35.9) | ||||||
Diluted earnings (loss) per share | $ | (0.78) | $ | 0.01 | $ | 0.08 | $ | (0.69) |
For the 26 Weeks Ended July 3, 2021 | ||||||||||||||
($ in millions, except per share data): | As Reported | Other Long-Lived Asset Impairment | Restructuring Expenses | As Adjusted | ||||||||||
Operating income (loss) | $ | (2.4) | $ | 5.7 | $ | 13.3 | $ | 16.6 | ||||||
Operating margin (% of net sales) | (0.3) | % | 2.1 | % | ||||||||||
Interest expense | $ | (13.9) | $ | — | $ | — | $ | (13.9) | ||||||
Other income (expense) - net | 1.4 | — | — | 1.4 | ||||||||||
Income (loss) before income taxes | (14.9) | 5.7 | 13.3 | 4.1 | ||||||||||
Provision for income taxes | 10.2 | 1.2 | 2.8 | 14.2 | ||||||||||
Less: Net income attributable to noncontrolling interest | (0.5) | — | — | (0.5) | ||||||||||
Net income (loss) attributable to Fossil Group, Inc. | $ | (25.6) | $ | 4.5 | $ | 10.5 | $ | (10.6) | ||||||
Diluted earnings (loss) per share | $ | (0.50) | $ | 0.09 | $ | 0.20 | $ | (0.21) |
July 2, 2022 | July 3, 2021 | |||||||||||||
Cash and cash equivalents | $ | 167.1 | $ | 252.3 | ||||||||||
Revolver availability | 53.8 | 42.1 | ||||||||||||
Total liquidity | $ | 220.9 | $ | 294.4 |
Functional Currency | Contract Currency | |||||||||||||||||||||||||
Type | Amount | Type | Amount | Expiring Through | ||||||||||||||||||||||
Euro | 56.8 | U.S. dollar | 66.3 | May 2023 | ||||||||||||||||||||||
Canadian dollar | 18.5 | U.S. dollar | 14.7 | June 2023 | ||||||||||||||||||||||
Japanese yen | 823.7 | U.S. dollar | 7.3 | June 2023 | ||||||||||||||||||||||
British pound | 4.3 | U.S. dollar | 5.9 | June 2023 | ||||||||||||||||||||||
Mexican peso | 77.7 | U.S. dollar | 3.7 | September 2022 | ||||||||||||||||||||||
Australian dollar | 3.7 | U.S. dollar | 2.7 | December 2022 | ||||||||||||||||||||||
U.S. dollar | 6.4 | Japanese yen | 740.0 | November 2022 |
Exhibit Number | Document Description | |||||||
3.1 | ||||||||
3.2 | ||||||||
3.3 | ||||||||
31.1(1) | ||||||||
31.2(1) | ||||||||
32.1(2) | ||||||||
32.2(2) | ||||||||
101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |||||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document. | |||||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |||||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | |||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
FOSSIL GROUP, INC. | |||||
August 11, 2022 | /S/ SUNIL M. DOSHI | ||||
Sunil M. Doshi | |||||
Executive Vice President, Chief Financial Officer and Treasurer (Principal financial and accounting officer duly authorized to sign on behalf of the Registrant) |
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