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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS

Second quarter worldwide net sales totaled $210 million

Gross margin expanded 490 basis points to 62.4%

Second quarter operating income of $3 million and operating margin of 2%; constant currency adjusted operating income of $9 million and constant currency adjusted operating margin of 4%

Raises full year 2026 financial outlook

Richardson, TX, August 12, 2026 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal second quarter ended July 4, 2026.

“We delivered another quarter ahead of our expectations, driven by broad-based strength across our core brands, channels and many of our key geographies,” said Franco Fogliato, CEO. “Top line performance, gross margin expansion and disciplined cost management fueled a doubling of constant currency adjusted operating income compared to the second quarter of last year, demonstrating continuing progress under our turnaround plan and the underlying strength of our operating model.”

“Strong business performance in the first half of 2026 and ongoing business momentum are enabling us to confidently raise our full year financial outlook, which is highlighted by an expected return to top line growth in the fourth quarter, improved profitability and positive free cash flow generation. It is clear that our evolution to a brand-led, consumer-focused operating model - combined with healthy watch industry fundamentals - is positioning us to deliver long-term profitable growth and shareholder value.”

Second Quarter 2026 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $209.7 million, a decrease of 4.9% on a reported basis and 4.4% in constant currency, compared to $220.4 million in the second quarter of fiscal 2025. The sales decrease was driven by the direct to consumer channels, with our store rationalization initiatives comprising approximately 220 basis points of the sales decline in the second quarter. From a regional view in constant currency, Europe net sales decreased 18.2%, Asia increased 3.7% and the Americas increased 0.2%. Wholesale sales in constant currency increased 0.9%, while our direct to consumer sales decreased 14.6%. Within our direct to consumer channels, which include e-commerce and Fossil retail stores, comparable retail sales declined 8%. In our major product categories, traditional watch sales decreased 0.9% in constant currency in the second quarter compared to the prior year period. The leathers category decreased 31.4% and jewelry sales declined 11.3% in constant currency during the second quarter.

•Gross profit totaled $130.8 million compared to $126.7 million in the second quarter of 2025. Gross margin increased 490 basis points to 62.4% versus 57.5% in the second quarter of 2025. The year-over-year increase primarily reflects improved product margins in our core categories driven by benefits from our full price selling model, sourcing initiatives and reduced tariffs. This increase was partially offset by the accelerated timing of licensed brand minimum royalty recognition as compared to the prior year.

•Operating expenses totaled $127.6 million, an increase of 7.9% compared to $118.2 million a year ago. As a percentage of net sales, operating expenses were 60.8% in the second quarter of 2026 compared to 53.7% in the prior year second quarter. Operating expenses in the second quarter of 2026 included $3.4 million of restructuring costs, primarily related to professional services and employee costs, while operating expenses in the second quarter of 2025 included $7.3 million of restructuring costs. SG&A expenses were $123.5 million, an increase of 11.3% compared to the second quarter of 2025, primarily due to an $11 million gain on the sale of our European warehouse in the prior year second quarter. As a percentage of net sales, SG&A expenses were 58.9% in the second quarter of 2026 compared to 50.3% in the prior year second quarter.

•Operating income (loss) was $3.2 million compared to $8.5 million in the second quarter of 2025. Operating margin was 1.5% in the second quarter of 2026 compared to 3.9% in the prior year second quarter. Constant currency adjusted operating income totaled $8.6 million compared to adjusted operating income of $4.3 million in the second quarter of 2025. Constant currency adjusted operating margin was 4.1% in the second quarter of 2026 compared to adjusted operating margin of 2.0% in the prior year second quarter.

•Interest expense was $8.3 million compared to $4.3 million in the second quarter of 2025 due to increased debt issuance cost amortization, higher debt balances and increased interest rates.

•Other income (

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS

First quarter worldwide net sales totaled $225 million

Gross margin of 59.9%

First quarter operating income of $12 million and operating margin of 5.4%; constant currency adjusted operating income of $10 million and constant currency adjusted operating margin of 4.4%

Reiterates 2026 outlook

Richardson, TX, May 13, 2026 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended April 4, 2026.

“We are pleased to begin the year with outperformance on the top and bottom line, fueled by strong execution against our turnaround and healthy watch industry trends,” said Franco Fogliato, CEO. “Strong consumer response to our product innovation and compelling brand storytelling drove notable performance across channels, core brands and key geographies. We remain confident in our full year outlook, including a return to top line growth in the fourth quarter, and believe our proven strategies and structural advantages position us to drive long-term profitable growth and value creation.”

First Quarter 2026 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $224.8 million, a decrease of 3.6% on a reported basis and 6.5% in constant currency compared to $233.3 million in the first quarter of fiscal 2025. Sales were unfavorably impacted by 690 basis points as a result of the fiscal 2026 first quarter including 13 weeks as compared to 14 weeks in the prior year quarter. Our store rationalization initiatives and declines in our smartwatch sales comprised approximately 280 basis points of the sales decline in the first quarter. Net sales, in constant currency, declined 14% in Europe, 3% in the Americas, and 1% in Asia. Wholesale sales increased 5% while our direct to consumer sales decreased 29%, each on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 15%. In our major product categories, traditional watch sales were approximately flat in constant currency in the first quarter compared to the prior year period. The leathers category decreased 41% and jewelry sales declined 14% in constant currency during the first quarter. From a brand lens, ARMANI EXCHANGE, MICHAEL KORS and DIESEL increased while FOSSIL brand sales in constant currency decreased 17% in the first quarter.

•Gross profit totaled $134.7 million compared to $143.0 million in the first quarter of 2025. Gross margin decreased 140 basis points to 59.9% versus 61.3% a year ago. The year-over-year decrease in the first quarter as compared to the prior year primarily reflects increased tariffs and the accelerated timing of licensed brand minimum royalty recognition. This decrease was partially mitigated by tariff refund claims

recorded during the current year, which contributed positively to the margin by $4.0 million, including $2.8 million related to tariffs incurred in fiscal year 2025.

•Operating expenses totaled $122.7 million, down 18.1% compared to the prior year period. As a percentage of net sales, operating expenses were 54.6% in the first quarter of 2026 compared to 64.2% in the prior year first quarter. Operating expenses in the first quarter of 2026 included $2.0 million of restructuring costs, primarily related to employee costs and professional services, while operating expenses in the first quarter of 2025 included $15.8 million of restructuring costs. SG&A expenses were $120.6 million, down 9.9% compared to the first quarter of 2025. As a percentage of net sales, SG&A expenses were 53.6% in the first quarter of 2026 compared to 57.4% in the prior year first quarter, largely driven by cost reductions and efficiencies gained through our restructuring programs. SG&A also benefited from tariff refund claims recorded during the first quarter, decreasing SG&A by $0.9 million, including $0.8 million related to tariffs incurred in fiscal year 2025.

•Operating income (loss) was $12.0 million compared to ($6.7) million in the first quarter of 2025. Operating margin of 5.4% in the first quarter of 2026 compared to (2.9)% in the prior year first quarter. Constant currency adjusted operating income totaled $9.5 million compared to adjusted operating income of $9.2 million in the first quarter of 2025. Constant currency adjusted operating margin was 4.4% in the first quarter of 2026 compared to adjusted operating margin of 3.9% in the prior year first quarter.

•Interest expense was $8.5 million compared to $4.5 million in the first quarter of 2025 due to increased debt issuance cost amortization, higher debt balances and increased interest rates.

•Other income (expense) was income of $1.2 million comp

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS

Delivers financial performance above guidance ranges

Full year 2025 worldwide net sales totaled $1 billion

Full year gross margin expands 390 basis points to 56.1%

Full year operating loss of $19 million and operating margin of (1.9)%; adjusted operating

income of $12 million and adjusted operating margin of 1.1%

Unveils next evolution of turnaround plan and raises long-term financial targets

Richardson, TX, March 11, 2026 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fourth quarter and fiscal year ended January 3, 2026.

“The bold initiatives under the Turnaround Plan we announced one year ago gained traction quickly, enabling us to deliver operating and financial performance above our expectations for 2025,” said Franco Fogliato, CEO. “We focused on our core brands, channels and geographies, improved our cost structure and strengthened our balance sheet. We have more work ahead, but we have entered 2026 from a position of strength, with sustained momentum.”

“As we continue to advance our brand-led, consumer-focused operating model, we are entering the next evolution of our Turnaround Plan - designed to return the Company to top line growth, meaningfully improve profitability and build long-term shareholder value.”

Fourth Quarter 2025 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $280.5 million, a decrease of 18.1% on a reported basis and 19.8% in constant currency compared to $342.3 million in the fourth quarter of fiscal 2024. The year-over-year decline was largely driven by the Company’s return to a full price selling model, as well as the previously disclosed shift of certain wholesale shipments from the fourth quarter into the third quarter of 2025. Additionally, store rationalization initiatives comprised approximately four points of the sales decline in the fourth quarter of 2025. Net sales, in constant currency, decreased 23% in the Americas, 20% in Asia and 14% in Europe versus the same quarter last year. Wholesale sales declined 12%, while our direct to consumer sales declined 31% on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 26%. In our major product categories, traditional watch sales declined 16% in constant currency in the fourth quarter of 2025 compared to the prior year period. The leathers category decreased 37% and jewelry sales declined 28% in constant currency during the fourth quarter of 2025. From a brand lens, the majority of the brands in our portfolio decreased in the fourth quarter. FOSSIL brand sales decreased 24% in constant currency during the fourth quarter of 2025.

•Gross profit totaled $161.0 million compared to $184.6 million in the fourth quarter of 2024. Gross margin increased 350 basis points to 57.4% versus 53.9% a year ago. The year-over-year increase was primarily due to improved product margins in our core categories driven by benefits from our full price selling model and sourcing initiatives.

•Operating expenses totaled $160.1 million compared to $200.9 million a year ago. As a percentage of net sales, operating expenses were 57.1% in the fourth quarter of 2025 compared to 58.7% in the prior year fourth quarter. Selling, general and administrative (“SG&A”) expenses were $148.4 million compared to $172.1 million in the fourth quarter of 2024, a reduction of 13.7%. As a percentage of net sales, SG&A expenses were 52.9% in the fourth quarter of 2025 compared to 50.3% in the prior year fourth quarter, largely driven by deleveraging on lower sales.

•Operating income was $0.9 million compared to an operating loss of $16.3 million in the fourth quarter of 2024. Operating margin was 0.3% in the fourth quarter of 2025 compared to (4.8)% in the prior year fourth quarter. Constant currency adjusted operating income totaled $11.4 million compared to adjusted operating income of $20.1 million in the fourth quarter of 2024. Constant currency adjusted operating margin was 4.2% in the fourth quarter of 2025 compared to adjusted operating margin of 5.9% in the prior year fourth quarter.

•Interest expense was $7.3 million compared to $4.9 million in the fourth quarter of 2024.

•Other income (expense) was expense of $0.9 million compared to expense of $4.1 million in the fourth quarter of 2024. The change in other income (expense) was largely due to net currency gains in the fourth quarter of 2025 as compared to net currency losses in the prior year fourth quarter. The fourth quarter of 2025 also included a net loss on the extinguishment of debt of $1.4 million.

•Income (loss) before income taxes was $(7.

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS

Third quarter 2025 worldwide net sales totaled $270 million

Third quarter operating loss of $22 million and operating margin of (8)%; constant currency adjusted operating loss of $15 million and constant currency adjusted operating margin of (6)%

Completes balance sheet transformation, significantly strengthens financial position subsequent to quarter end

Reiterates full year 2025 financial guidance

Richardson, TX, November 13, 2025 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal third quarter ended October 4, 2025.

“We are pleased to report another quarter of progress and momentum under our turnaround as our teams continue to deliver superior execution against the three key pillars of our plan. Importantly, this week we completed the successful transformation of our balance sheet,” said Franco Fogliato, Chief Executive Officer. “The balance sheet refinancing represents a pivotal milestone in our turnaround and allows us to turn the page to Fossil Group’s next chapter. Over the past year, we’ve built a consumer-focused, brand-led operating model, strengthened our gross margin profile, rightsized our cost structure and fortified our balance sheet. Looking ahead, this foundational platform gives us tremendous confidence that the business is positioned to deliver long-term profitable growth.”

Third Quarter 2025 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $270.2 million, a decrease of 6.1% on a reported basis and 7.1% in constant currency compared to $287.8 million in the third quarter of fiscal 2024. The sales decrease was largely driven by the direct to consumer channels, with our store rationalization initiatives comprising approximately 3 points of the sales decline in the third quarter. Net sales in constant currency declined 9% in the Americas, 10% in Europe and increased 2% in Asia. Wholesale sales in constant currency increased 3%, while our direct to consumer sales decreased 27%. Within our direct to consumer channels, comparable retail sales declined 22%. In our major product categories, traditional watch sales decreased 1% in constant currency in the third quarter compared to the prior year period. The leathers category decreased 37% and jewelry sales declined 23% in constant currency during the third quarter. From a brand lens, DIESEL and ARMANI EXCHANGE increased while FOSSIL decreased in the third quarter.

•Gross profit totaled $132.4 million, a decline of 6.9% compared to $142.2 million in the third quarter of 2024. Gross margin decreased 40 basis points to 49.0% versus 49.4% in the third quarter of 2024. The

year-over-year decrease primarily reflects the impact of increased tariffs and licensed brand minimum royalties, largely offset by improved product margins in our core categories driven by benefits from our sourcing initiatives.

•Operating expenses totaled $154.1 million, down 7.5% compared to $166.7 million a year ago. As a percentage of net sales, operating expenses were 57.0% in the third quarter of 2025 compared to 57.9% in the prior year third quarter. Operating expenses in the third quarter of 2025 included $6.8 million of restructuring costs, primarily related to professional services and employee costs. Operating expenses in the third quarter of 2024 included $4.8 million of restructuring costs. SG&A expenses were $146.8 million, down 8.8% compared to the third quarter of 2024, primarily driven by cost reductions and efficiencies gained through our restructuring programs. As a percentage of net sales, SG&A expenses were 54.3% in the third quarter of 2025 compared to 55.9% in the prior year third quarter.

•Operating income (loss) was $(21.7) million compared to $(24.5) million in the third quarter of 2024. Operating margin was (8.0)% in the third quarter of 2025 compared to (8.5)% in the prior year third quarter. Constant currency adjusted operating loss totaled $14.9 million compared to adjusted operating loss of $22.0 million in the third quarter of 2024. Constant currency adjusted operating margin was (5.5)% in the third quarter of 2025 compared to adjusted operating margin of (7.6)% in the prior year third quarter.

•Interest expense decreased to $4.2 million compared to $4.9 million in the third quarter of 2024.

•Other income (expense) was expense of $6.2 million compared to income of $3.6 million in the third quarter of 2024, reflecting net currency losses in the third quarter of 2025 as compared to net currency gains in the prior year third quarter. The current year third quarter also included a $1.7 million loss on extinguishment of debt.

•Income (loss) befor

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS

Delivers positive operating income

Second quarter 2025 worldwide net sales totaled $220 million

Gross margin expanded 490 basis points to 57.5%

Second quarter operating income of $8 million and operating margin of 3.9%; constant currency adjusted operating income of $4 million and constant currency adjusted operating margin of 1.7%

Raises full year 2025 guidance

Richardson, TX, August 13, 2025 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal second quarter ended July 5, 2025. In a separate press release today, the Company also announced a comprehensive refinancing plan to strengthen its balance sheet and increase liquidity.

“Our second quarter outperformance and continuing momentum reinforces the strength of our turnaround plan,” said Franco Fogliato, CEO. “We delivered a third consecutive quarter of positive adjusted operating income supported by a healthy gross margin profile and an improving cost structure. We are particularly pleased to have announced a comprehensive refinancing plan that we believe will meaningfully strengthen our financial position and create additional runway to support our turnaround and growth plans.”

“Looking at the second half of the year, we are focusing on key brand building initiatives around product, marketing and customer experience, including the upcoming launch of our global campaign featuring Fossil’s celebrity brand ambassador, Nick Jonas. Our teams continue to deliver strong execution across our turnaround pillars, resulting in better than expected year-to-date performance. We are pleased that this strong operating and financial momentum positions us to raise our top and bottom line outlook for full year 2025 as we make further progress toward building long-term shareholder value.”

Second Quarter 2025 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $220.4 million, a decrease of 15.2% on a reported basis and 15.8% in constant currency compared to $260.0 million in the second quarter of fiscal 2024. The sales decrease was largely driven by overall category, consumer and channel softness. Declines in smartwatch sales resulting from our exit of the category, and our store rationalization initiatives comprised approximately 6 points of the sales decline in the second quarter. Net sales in constant currency declined 19% in the Americas, 14% in Europe and 12% in Asia. Wholesale sales in constant currency declined 6%, while our direct to consumer sales decreased 30%. Within our direct to consumer channels, comparable retail sales declined 23%. In our major

product categories, traditional watch sales decreased 8% in constant currency in the second quarter compared to the prior year period. The leathers category decreased 39% and jewelry sales declined 22% in constant currency during the second quarter. From a brand lens, the majority of the brands in our portfolio decreased in the second quarter.

•Gross profit totaled $126.7 million, a decline of 7.4% compared to $136.9 million in the second quarter of 2024. Gross margin increased 490 basis points to 57.5% versus 52.6% in the second quarter of 2024. The year-over-year increase primarily reflects improved product margins in our core categories driven by sourcing initiatives, our exit from the smartwatch category, and reduced freight costs. These favorable impacts were partially offset by increased tariffs.

•Operating expenses totaled $118.2 million, down 30.8% compared to $170.9 million a year ago. As a percentage of net sales, operating expenses were 53.7% in the second quarter of 2025 compared to 65.7% in the prior year second quarter. Operating expenses in the second quarter of 2025 were favorably impacted by an $11 million gain on the sale of our European warehouse and included $7.3 million of restructuring costs, primarily related to professional services and employee costs. Operating expenses in the second quarter of 2024 included $16.7 million of restructuring costs. SG&A expenses were $110.9 million, down 27.8% compared to the second quarter of 2024, primarily driven by cost reductions and efficiencies gained through our restructuring programs. As a percentage of net sales, SG&A expenses were 50.3% in the second quarter of 2025 compared to 59.1% in the prior year second quarter.

•Operating income (loss) was $8.5 million compared to $(34.0) million in the second quarter of 2024. Operating margin was 3.9% in the second quarter of 2025 compared to (13.1)% in the prior year second quarter. Adjusted operating income totaled $3.8 million compared to adjusted operating loss of $17.0 million in the second quarter o

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS

First quarter worldwide net sales totaled $233 million

Gross margin expanded 890 basis points to 61.3%

First quarter operating loss of $7 million; constant currency adjusted operating income of $10 million and

constant currency adjusted operating margin of 4.3%

Total liquidity of $100 million

Reiterates full year 2025 guidance

Richardson, TX, MAY 14, 2025 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended April 5, 2025.

“We are pleased to deliver another quarter of progress under our turnaround plan,” said Franco Fogliato, CEO. “We narrowed our sales declines, increased gross margin by 890 basis points and delivered a second consecutive quarter of positive adjusted operating profit. Our turnaround strategies are gaining traction and fueling momentum across our business despite the challenging macro environment. Notably, our diverse global footprint limits our tariff exposure and we have a number of levers and mitigation strategies that are expected to help offset impacts and protect our healthy gross margin profile in 2025. Additionally, based on our strong first quarter performance and conviction in our turnaround plan, we believe we are on the right path to driving long-term profitable growth.”

First Quarter 2025 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $233.3 million, a decrease of 8.5% on a reported basis and 6.2% in constant currency compared to $254.9 million in the first quarter of fiscal 2024. The sales decrease was largely driven by overall category, consumer and channel softness. Declines in smartwatch sales and our store rationalization initiatives comprised approximately 520 basis points of the sales decline in the first quarter. Sales were favorably impacted 700 basis points as a result of the fiscal 2025 first quarter including 14 weeks as compared to 13 weeks in the prior year quarter. Net sales, in constant currency, declined 9% in the Americas, and 10% in Asia, while increasing 1% in Europe. Wholesale sales increased 6.0% while our direct to consumer sales decreased 24%, each on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 22%. In our major product categories, traditional watch sales increased 2% in constant currency in the first quarter compared to the prior year period. The leathers category decreased 37% and jewelry sales declined 13% in constant currency during the first quarter. While the majority of the brands in our portfolio decreased in the first quarter, MICHAEL KORS increased 12%

in constant currency. FOSSIL decreased 8% in constant currency driven by leathers and jewelry, partially offset by a 3% increase in watches.

•Gross profit totaled $143.0 million compared to $133.5 million in the first quarter of 2024. Gross margin increased 890 basis points to 61.3% versus 52.4% a year ago. The year-over-year increase primarily reflects improved product margins in our core categories, exiting the smartwatch category, favorable product mix and reduced freight costs.

•Operating expenses totaled $149.7 million, down 8.0% compared to the prior year period. As a percentage of net sales, operating expenses were 64.2% in the first quarter of 2025 compared to 63.8% in the prior year first quarter. Operating expenses in the first quarter of 2025 included $15.8 million of restructuring costs, primarily related to employee costs and professional services, while operating expenses in the first quarter of 2024 included $10.1 million of restructuring costs. SG&A expenses were $133.8 million, down 12.1% compared to the first quarter of 2024. As a percentage of net sales, SG&A expenses were 57.4% in the first quarter of 2025 compared to 59.7% in the prior year first quarter, largely driven by cost reductions and efficiencies gained through our restructuring programs.

•Operating loss was $6.7 million compared to $29.2 million in the first quarter of 2024. Operating margin of (2.9)% in the first quarter of 2025 compared to (11.5)% in the prior year first quarter. Constant currency adjusted operating income totaled $10.3 million compared to adjusted operating loss of $18.9 million in the first quarter of 2024. Constant currency adjusted operating margin was 4.3% in the first quarter of 2025 compared to adjusted operating margin of (7.5)% in the prior year first quarter.

•Interest expense decreased to $4.5 million compared to $5.1 million in the first quarter of 2024.

•Other income (expense) was expense of $3.3 million compared to income of $3.9 million in the first quarter of 2024, reflecting net currency losses in

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EXHIBIT 99.1

Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER

AND FULL YEAR 2024 RESULTS

Outlines Turnaround Plan and Long-Term Financial

Targets

Provides 2025 Financial Guidance

Richardson, TX, March 12, 2025 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fourth quarter and fiscal year ended December 28, 2024. In a separate press release today, the Company also announced the appointment of Randy Greben as Chief Financial Officer, effective March 17, 2025.

Fourth Quarter Summary

·Fourth quarter worldwide net sales were $342 million, down 19% on a reported basis and 18% in constant currency, with sales declines across all regions and all channels. The results included 600 basis points of negative impact related to the Company’s strategic actions to exit the smartwatch category and optimize its retail store portfolio.

·Fourth quarter gross margin expanded 630 basis points to 53.9%.

·Fourth quarter selling, general and administrative (“SG&A”) expenses of $172.1 million were down 17% versus the fourth quarter of 2023, primarily due to lower compensation costs as a result of efficiencies from the Company’s Transform and Grow plan (“TAG”).

·Fourth quarter operating loss was $16.3 million, or (4.8%) of net sales. Adjusted operating income was $20.1 million, or 5.9% of net sales.

·Fourth quarter diluted loss per share was $0.14. Adjusted income per share was $0.39. Currencies unfavorably affected loss per diluted share by approximately $0.07.

·Inventory at year-end of $178.6 million, representing a decrease of 29.4% versus a year ago.

·The Company generated free cash flow of $30 million in the fourth quarter.

·As of December 28, 2024, the Company had total liquidity of $177 million, including cash and cash equivalents of $124 million and $53 million of availability under its revolving credit facility.

“We are pleased to conclude the year with better than expected fourth quarter results, delivering $20 million of adjusted operating profit as our initiatives to improve our business performance started to gain traction,” said Franco Fogliato, Chief Executive Officer. “In my initial months in the CEO role, we took decisive actions to begin strengthening our operating model, while developing a comprehensive turnaround plan designed to drive long-term profitable growth. The organization is energized by the opportunity ahead. Importantly, we have a strong combination of seasoned Fossil Group team members and newly appointed leaders to advance our strategy and build lasting shareholder value.”

Fossil Group Turnaround Plan

The Company introduced a business turnaround plan consisting of three primary pillars: (i) refocusing on our core through key initiatives, including launching a new FOSSIL brand platform, leveraging our core licensed brands, optimizing our global wholesale footprint and driving channel profitability, (ii) rightsizing our cost structure, and (iii) strengthening our balance sheet. As part of the turnaround plan, in full year 2025, the Company expects to achieve SG&A savings of approximately $100 million versus 2024, resulting from a corporate workforce reduction, the transition of select international markets to a distributor model and the closure of approximately 50 FOSSIL retail stores. In parallel with its turnaround plan, the Company is concluding its TAG Plan, which generated annualized operating income benefits of $280 million over a two year period, including $125 million in 2023 and $155 million in 2024. The Company also stated that it is continuing to work with its advisors and progressing on its previously announced Strategic Review of its business model and capital structure.

In connection with the turnaround plan, the Company is providing the following long term financial targets. For the full year in 2027, the Company expects to achieve:

·Worldwide net sales of more than $800 million

·Adjusted operating income(1) margin in the mid-single-digit range

·Positive free cash flow

(1) A

reconciliation of Adjusted operating income, a non-GAAP financial measure, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the high variability and low visibility of certain income and expense items that are excluded in calculating Adjusted operating income.

Fourth Quarter 2024 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

·Net sales totaled $342.3 million, a decrease of 18.8% on a reported basis and 18.1% in constant currency compared to $421.3 million in the fourth quarter of fiscal 2023. The sales decrease was largely driven by overall category, consumer and channel softness. Declines in smartwatch sales resulting from our exit of the cat

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS

Remains On Track to Achieve at Least $100 Million of Annualized Savings in 2024 Under TAG Plan

Updates Full Year Outlook

Richardson, TX, November 7, 2024 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal third quarter ended September 28, 2024.

Third Quarter Summary

•Third quarter worldwide net sales decreased to $288 million, down 16% on both a reported and constant currency basis. The results included six points of negative impact related to the Company’s strategic actions to exit the smartwatch category and optimize its retail store portfolio.

•Gross margins expanded 240 basis points to 49.4%, primarily reflecting progress under the Company’s Transform and Grow ("TAG") Plan.

•Selling, general and administrative (“SG&A”) expenses of $161 million were down 16% versus last year, primarily due to lower compensation costs as a result of efficiencies from the Company’s TAG Plan.

•Third quarter operating loss of $24 million compared to an operating loss of $46 million a year ago. Adjusted operating loss of $19 million compared to an adjusted operating loss of $31 million last year.

•Inventory totaled $226 million, a decrease of 31% versus a year ago; the Company had total liquidity of $130 million at quarter end, including cash and cash equivalents of $106 million and $24 million of availability under its revolving credit facility.

“In my first sixty days at Fossil Group, I’ve been spending time with our brands, teams and partners around the world to immerse myself in the business,” said Franco Fogliato, Chief Executive Officer. “During this time, I have developed an even stronger conviction about the Company’s significant potential and our ability to return the business to profitable growth. We are moving quickly to develop a plan that will be built upon discipline, simplification and focus, leveraging our great brands and talented teams to drive a successful turnaround and create value for our shareholders.”

Third Quarter 2024 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $287.8 million, a decrease of 16.4% on a reported basis and 16.3% in constant currency compared to $344.1 million in the third quarter of fiscal 2023. The sales decrease was largely driven by overall category, consumer and channel softness. Declines in smartwatch sales resulting from our exit of the category, and our store rationalization initiatives comprised approximately six points of the sales decline in the third quarter. Net sales in constant currency declined 20% in the Americas, 11% in Europe and 17% in Asia. Wholesale sales in constant currency declined 12%, while our direct to consumer sales decreased 24%. Within our direct to consumer channels, comparable retail sales declined 12%. In our major product categories, traditional watch sales declined 12% in constant currency in the third quarter compared to the prior year period. The leathers category decreased 28% and jewelry sales declined 10% in constant currency during the third quarter. From a brand lens, the majority of the brands in our portfolio decreased in the third quarter.

•Gross profit totaled $142.2 million compared to $161.7 million in the third quarter of 2023. Gross margin increased 240 basis points to 49.4% versus 47.0% in the third quarter of 2023. The year-over-year increase was primarily due to initiatives under our TAG Plan, including improved product margins in our core categories and our exit from the smartwatch category. These favorable impacts were partially offset by increased licensor minimum royalty costs.

•Operating expenses totaled $166.7 million, down 20% compared to $208.1 million a year ago. As a percentage of net sales, operating expenses were 57.9% in the third quarter of 2024 compared to 60.5% in the prior year third quarter. Operating expenses in the third quarter of 2024 included $4.8 million of restructuring costs, primarily related to professional services and employee costs, while operating expenses in the third quarter of 2023 included $16.0 million of restructuring costs. SG&A expenses were $160.9 million, down 16% compared to the third quarter of 2023. As a percentage of net sales, SG&A expenses were 55.9% in the third quarter of 2024 compared to 55.6% in the prior year third quarter, largely driven by decreased sales.

•Operating loss was $24.5 million compared to $46.4 million in the third quarter of 2023. Operating margin was (8.5)% in the third quarter of 2024 compared to (13.5)% in the prior year third quarter. Adjusted operating loss totaled $18.7 million compared to $31.1 million in the third quarter of 2023. Adjusted

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS

Continued Operational and Financial Progress under TAG Plan

Maintains Full Year 2024 Outlook

Richardson, TX, AUGUST 8, 2024 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal second quarter ended June 29, 2024.

Second Quarter Summary

•Second quarter worldwide net sales decreased to $260 million, down 19% on a reported basis and 18% in constant currency, which includes five points of negative impact related to the Company’s strategic actions to exit the smartwatch category and optimize its retail store portfolio.

•Gross margins expanded 390 basis points to 52.6%, primarily reflecting progress under the Company’s Transform and Grow ("TAG") Plan.

•Selling, general and administrative (“SG&A”) expenses of $154 million were down 18% versus last year, primarily due to lower compensation costs as a result of efficiencies from the Company’s TAG Plan.

•Second quarter operating loss of $34 million compared to operating loss of $35 million a year ago. Adjusted operating loss of $17 million compared to adjusted operating loss of $28 million last year.

•Inventory totaled $202 million, a decrease of 38% versus a year ago; the Company had total liquidity of $156 million at quarter end, including cash and cash equivalents of $105 million and $51 million of availability under its revolving credit facility.

“Our second quarter results were in line with our expectations and reflect continued progress under our TAG Plan,” said Jeffrey Boyer, Interim CEO. "Strong execution of our initiatives resulted in gross margin expansion, cost reduction and adjusted operating margin improvement in the second quarter. Our teams remain focused on further advancing our TAG Plan, while progressing on our actions to stabilize the business, strengthen the balance sheet and conduct a strategic review of our business model and capital structure.”

Second Quarter 2024 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $260.0 million, a decrease of 19.3% on a reported basis and 18.5% in constant currency compared to $322.0 million in the second quarter of fiscal 2023. The sales decrease was largely driven by overall category, consumer and channel softness. Declines in smartwatch sales resulting from our exit of the category, and our store rationalization initiatives comprised approximately 5 points of the sales decline in the second quarter. Net sales, in constant currency, declined 18% in the Americas, 15% in Europe and 20% in Asia. Wholesale sales declined 16% while our direct to consumer sales decreased 22% on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 10%. In our major product categories, traditional watch sales declined 17% in constant currency in the second quarter compared to the prior year period. The leathers category decreased 18% and jewelry sales declined 10% in constant currency during the second quarter. From a brand lens, the majority of the brands in our portfolio decreased in the second quarter.

•Gross profit totaled $136.9 million compared to $156.7 million in the second quarter of 2023. Gross margin increased 390 basis points to 52.6% versus 48.7% a year ago. The year-over-year increase is primarily due to initiatives under our TAG Plan, including our exit from the smartwatch category and improved product margins in our core categories.

•Operating expenses totaled $170.9 million, down 11% compared to $192.0 million a year ago. As a percentage of net sales, operating expenses were 65.7% in the second quarter of 2024 compared to 59.6% in the prior year second quarter. Operating expenses in the second quarter of 2024 included $16.7 million of restructuring costs, primarily related to professional services and employee costs, while operating expenses in the second quarter of 2023 included $4.6 million of restructuring costs. SG&A expenses were $153.6 million, down 18% compared to the second quarter of 2023. As a percentage of net sales, SG&A expenses were 59.1% in the second quarter of 2024 compared to 58.1% in the prior year second quarter, largely driven by decreased sales.

•Operating loss was $34.0 million compared to $35.3 million in the second quarter of 2023. Operating margin was (13.1)% in the second quarter of 2024 compared to (11.0)% in the prior year second quarter. Adjusted operating loss totaled $16.7 million compared to $27.6 million in the second quarter of 2023. Adjusted operating margin was (6.4)% in the second quarter of 2024 compared to (8.6)% in the prior year second quarter.

•Interest expense decreased to $4.1 million compared to $5.3 million in

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS

Maintains Full Year 2024 Outlook

Richardson, TX, MAY 8, 2024 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended March 30, 2024.

First Quarter Summary

•First quarter worldwide net sales decreased to $255 million, down 22% on a reported basis and 21% in constant currency, reflecting five points of impact related to the Company’s strategic actions to exit the smartwatch category and optimize its retail store portfolio.

•Gross margins expanded 300 basis points to 52.4%, primarily reflecting progress under the Company’s Transform and Grow ("TAG") Plan.

•Selling, general and administrative (“SG&A”) expenses of $152 million were down 20% versus last year mainly due to lower compensation costs as a result of efficiencies resulting from the Company’s TAG Plan.

•First quarter operating loss of $29 million compared to $37 million a year ago. Adjusted operating loss of $19 million compared to adjusted operating loss of $25 million last year.

•Inventory totaled $224 million, a decrease of 33% versus a year ago; cash and cash equivalents of $113 million at quarter end.

•Subsequent to quarter end, the Company received an anticipated US tax refund of $57 million associated with NOL carryback provisions from the CARES Act.

“We started the year with solid execution of our TAG Plan, which drove gross margin expansion and operating expense reduction, enabling us to narrow our adjusted operating loss versus a year ago,” said Jeffrey Boyer, Interim CEO. “While we continue to navigate challenging top line trends, we are acting with urgency to stabilize the business, taking definitive actions to strengthen our balance sheet and progressing with a strategic review of our business model and capital structure. As we focus on strengthening our operating model and creating shareholder value, we are pleased to have recently welcomed two new Directors to our Board who bring meaningful experience across operations, retail, turnarounds, governance and leadership.”

First Quarter 2024 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $254.9 million, a decrease of 21.6% on a reported basis and 21.5% in constant currency compared to $325.0 million in the first quarter of fiscal 2023. The sales decrease was largely driven by overall category, consumer and channel softness. Declines in smartwatch sales and our store rationalization initiatives comprised approximately 5 points of the sales decline in the first quarter. Net sales, in constant currency, declined 21% in the Americas, 26% in Europe and 15% in Asia. Wholesale sales declined 21% while our direct to consumer sales decreased 22% on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 14%. In our major product categories, traditional watch sales declined 17% in constant currency in the first quarter compared to the prior year period. The leathers category decreased 32% and jewelry sales declined 9% in constant currency during the first quarter. From a brand lens, the majority of the brands in our portfolio decreased in the first quarter.

•Gross profit totaled $133.5 million compared to $160.7 million in the first quarter of 2023. Gross margin increased 300 basis points to 52.4% versus 49.4% a year ago. The year-over-year increase primarily reflects exiting the smartwatch category as part of our TAG plan, reduced freight costs, improved product margins in our core categories, and favorable currency impacts.

•Operating expenses totaled $162.7 million, down 18% compared to the prior year period. As a percentage of net sales, operating expenses were 63.8% in the first quarter of 2024 compared to 60.9% in the prior year first quarter. Operating expenses in the first quarter of 2024 included $10.1 million of restructuring costs, primarily related to employee costs and professional services, while operating expenses in the first quarter of 2023 included $7.1 million of restructuring costs. SG&A expenses were $152.2 million, down 20% compared to the first quarter of 2023. As a percentage of net sales, SG&A expenses were 59.7% in the first quarter of 2024 compared to 58.7% in the prior year first quarter, largely driven by decreased sales.

•Operating loss was $29.2 million compared to $37.3 million in the first quarter of 2023. Operating margin of (11.5)% in the first quarter of 2024 was flat with the prior year first quarter. Adjusted operating loss totaled $18.9 million compared to $24.8 million in the first quarter of 2023. Adjusted operating margin was (7.5)% in the first quarter of 2024 compared to (7.7)% in the prior

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EXHIBIT 99.1

Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER

AND FISCAL YEAR 2023 RESULTS

Worldwide Net Revenue and Adjusted Operating Margin in Line with Guidance

Announces Strategic Review to Maximize Shareholder Value

Company Provides Full Year 2024 Outlook

Richardson, TX, March 13, 2024 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fourth quarter and fiscal year ended December 30, 2023. Separately, the Company also announced today that Kosta N. Kartsotis has stepped down as Chief Executive Officer and Jeffrey N. Boyer, Chief Operating Officer, has been appointed Interim CEO, effective immediately.

“During 2023, we made solid progress under our Transform and Grow (TAG) Plan, enabling us to exit the smartwatch category, close underperforming retail stores, manage down inventories, and capture $125 million of annualized cost savings, ” said Jeffrey Boyer, Interim Chief Executive Officer. “We entered 2024 with a leaner cost structure, healthier inventory levels and sufficient liquidity. Importantly, we remain on track with our TAG Plan and expect to achieve our previously announced target of $300 million of annualized operating income benefits by the end of 2025. Additionally, we are taking deliberate actions to improve our financial performance, strengthen our balance sheet, and conduct a strategic review of our current business model and capital structure with the goal of maximizing shareholder value.”

Fourth Quarter and Full Year Summary

·Fourth quarter worldwide net sales decreased to $421 million, down 16% on a reported basis and 17% in constant currency, with sales declines across all regions and all channels.

·Full year worldwide net sales decreased to $1,412 million, down 16% on both a reported and constant currency basis, with sales declines across all regions and all channels.

·Full year operating loss was $143 million compared to operating loss of $1 million a year ago. Adjusted operating loss was $92 million, or 6.5% of net sales, compared to adjusted operating income of $7 million, or 0.4% of net sales, last year.

·Full year diluted loss per share was $3.00 and adjusted loss per share was $2.24, as compared to diluted loss per share of $0.85 and adjusted loss per share of $0.71 in the prior year.

·As of December 30, 2023, cash and cash equivalents of $117 million.

Fourth Quarter 2023 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

·Net sales totaled $421.3 million, a decrease of 15.6% on a reported basis and 16.9% in constant currency compared to $499.1 million in the fourth quarter of fiscal 2022. The sales decrease was largely driven by weakness in the wholesale channel, store rationalization initiatives and lower smartwatch sales, as we exit the category. Net sales, in constant currency, decreased 22% in Europe, 16% in Asia and 12% in the Americas versus the same quarter last year. Wholesale sales declined 19%, while our direct to consumer sales declined 14% on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 10%. In our major product categories, traditional watch sales declined 10% in constant currency in the fourth quarter with slight growth in the FOSSIL brand more than offset by declines in most other brands. The leathers category decreased 23% and jewelry sales declined 18% in constant currency during the fourth quarter. From a brand lens, net sales for the majority of the brands in our portfolio decreased in the fourth quarter of 2023.

·Gross profit totaled $200.5 million compared to $235.4 million in the fourth quarter of 2022. Gross margin increased 40 basis points to 47.6% versus 47.2% a year ago. The year-over-year increase in gross margin primarily reflects reduced freight and inventory costs. These improvements were partially offset by unfavorable product mix, driven by our exit from the smartwatch category, and minimum licensor product royalties.

·Operating expenses totaled $224.5 million compared to $234.1 million in the fourth quarter of 2022. As a percentage of net sales, operating expenses were 53.3% in the fourth quarter of 2023 compared to 46.9% in the prior year fourth quarter. Selling, general and administrative (“SG&A”) expenses, which exclude restructuring and impairment, were $207.7 million compared to $232.2 million in the fourth quarter of 2022, a reduction of 10.6%. The year-over-year decline in SG&A was largely driven by lower compensation costs related to initiatives in our TAG Plan. As a percentage of net sales, SG&A expenses were 49.3% in the fourth quarter of 2023 compared to 46.5% in the prior year fourth quarter, largely driven by deleveraging on lower sales.

·Operating loss was $24.0 million compar

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS

Updates Full Year 2023 Outlook

Richardson, TX, NOVEMBER 8, 2023 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal third quarter ended September 30, 2023.

Third Quarter Summary

•Third quarter worldwide net sales totaled $344 million, decreasing 21%.

•Net sales in the Company’s direct to consumer channels were down 12% in constant currency, with a comparable retail sales decrease of 6%. Net sales in our wholesale channels were down 25%. The Company’s global owned ecommerce platform grew 8%.

•FOSSIL brand sales declined 14% in constant currency, reflecting a modest contraction in traditional watches, and more significant declines in smartwatches and leathers.

•Operating loss of $46 million compared to operating income of $22 million a year ago. Adjusted operating loss of $31 million compared to adjusted operating income of $23 million last year.

•Inventory totaled $327 million, a decrease of 28% versus a year ago; and the Company had total liquidity of $140 million at quarter end.

Kosta Kartsotis, Chairman and CEO, stated, “Against a backdrop of challenging category, consumer and channel dynamics, our year-to-date financial results are below our expectations. We are highly focused on delivering strong execution during the holiday season and implementing our TAG Plan designed to right size our cost structure and improve profitability. For full year 2023, we are on track to capture expected annualized cost savings of approximately $100 million, putting us well on our way to achieving the previously announced $300 million in annualized benefits by 2025.”

Third Quarter 2023 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $344.1 million, a decrease of 21.1% on a reported basis and 22.1% in constant currency compared to $436.3 million in the third quarter of fiscal 2022. The sales decrease was largely driven by the wholesale channel, and to a lesser extent, softness in smartwatch sales and our store rationalization initiatives. Net sales, in constant currency, declined 30% in Europe, 18% in Americas and 14% in Asia

versus the same quarter last year. Wholesale sales decreased 25%, while our direct to consumer sales declined 12% on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 6%. Traditional watch sales declined 19% in constant currency in the third quarter. Smartwatch sales decreased 49% reflecting lower consumer demand across geographies and reduced marketing as compared to the prior year period. The leathers category decreased 20% and jewelry sales declined 11% in constant currency during the third quarter. From a brand lens, the majority of the brands in our portfolio decreased in the third quarter. FOSSIL branded sales decreased 14% in constant currency largely driven by declines in smartwatches and leathers.

•Gross profit totaled $161.7 million compared to $219.6 million in the third quarter of 2022. Gross margin decreased 330 basis points to 47.0% versus 50.3% a year ago. The year-over-year decrease primarily reflects (i) timing of licensor minimum royalty costs, (ii) increased revenue recognized over time in the prior year third quarter due to the timing of progress in completing performance obligations under a licensing agreement and (iii) net foreign currency hedging contract losses in the current year as compared to gains in the prior year, partially offset by decreased freight costs and improved product margins.

•Operating expenses totaled $208.1 million compared to $197.1 million a year ago. The increase in operating expenses was primarily driven by increased restructuring costs. As a percentage of net sales, operating expenses were 60.5% in the third quarter of 2023 compared to 45.2% in the prior year third quarter. Selling, general and administrative (“SG&A”) expenses were down 2.6% to $191.4 million from $196.5 million in the third quarter of 2022 primarily driven by reduced store costs resulting from a lower store count and savings from our TAG initiatives. As a percentage of net sales, SG&A expenses were 55.6% in the third quarter of 2023 compared to 45.0% in the prior year third quarter, largely driven by decreased sales.

•Operating loss was $46.4 million compared to operating income of $22.5 million in the third quarter of 2022. Operating margin was (13.5)% in the third quarter of 2023 compared to 5.2% in the prior year third quarter. Adjusted operating loss totaled $31.1 million compared to operating income of $23.1 million in the third quarter of 2022. Adjusted operating margin was (9.0)% in the third quarter of 2023 compared

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS

Triples Transform and Grow Plan to $300 Million

Provides Updated Full Year 2023 Outlook

Richardson, TX, AUGUST 9, 2023 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fiscal second quarter ended July 1, 2023.

Second Quarter Summary

•Second quarter worldwide net sales totaled $322 million, decreasing 13%.

•Net sales in the Company’s direct to consumer channels were down 4% in constant currency, with comparable retail sales growth of 3%. Net sales in our wholesale channels were down 19%.

•FOSSIL brand sales grew slightly in traditional watches, more than offset by declines in smartwatches and leathers, resulting in a total brand sales decline of 8% in constant currency.

•Operating loss of $35 million compared to a loss of $11 million a year ago. Adjusted operating loss of $28 million compared to adjusted operating loss of $8 million last year.

•Inventory totaled $324 million, a decrease of 26% versus a year ago; and the Company total liquidity of $205 million at quarter end.

Expanded Transform and Grow Plan

The Company is expanding its previously announced Transform and Grow Plan (“TAG Plan”) following a more comprehensive review of its business model. The financial goals of the TAG Plan have expanded beyond operating expense reductions to include gross margin improvements, which are expected to drive incremental operating income benefits over the next three years.

The expanded TAG Plan is expected to generate approximately $300 million of annualized operating income benefits by the end of 2025. The previously announced TAG Plan was expected to generate $100 million of annualized operating income benefits by the end of 2024. In connection with the TAG Plan, the Company expects to incur charges of approximately $35 million in 2023, and approximately $100 million - $120 million over the duration of the program. With these measures, our goal is to achieve adjusted gross margins in the low to mid 50% range and adjusted operating margins of approximately 10%.

To execute the expanded TAG Plan, the Company has created a Transformation Office and will partner with Alvarez & Marsal’s Consumer and Retail Group, leaders in consumer and retail transformation. In addition to the program outlined above, the Transformation Office is focused on the three growth pillars outlined in March 2023,

which includes: 1) revitalizing the Fossil brand, 2) maximizing our licensed brand portfolio in watches and jewelry and 3) growing our premium watch offerings.

A presentation outlining our updated Transform and Grow Plan can be found on www.fossilgroup.com in the Investor Relations section.

Kosta Kartsotis, Chairman and CEO, stated, “By expanding our Transform and Grow Plan, we are taking bold and significant steps to reshape our business and financial model. Partnering with Alvarez & Marsal, a leading consulting firm, has brought additional insights and enabled a broader and more comprehensive review of our business. Establishing a Transformation Office will leverage our joint capabilities to drive accelerated change. As a result, we have tripled the size of our original program to $300 million in annualized benefits by 2025.

The actions to be taken under this expanded Transform and Grow Plan will better fuel our growth strategies and are designed to return the Company to a double digit operating margin model and thereby create shareholder value.”

Second Quarter 2023 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $322.0 million, a decrease of 13% on a reported basis and in constant currency compared to $371.2 million in the second quarter of fiscal 2022. Net sales, in constant currency, declined 19% in Europe, 13% in Americas and 5% in Asia versus the same quarter last year. Wholesale sales decreased 19% while our direct to consumer sales declined 4% on a constant currency basis. Within our direct to consumer channels, comparable retail sales grew 3%. Traditional watch sales declined 8% in constant currency in the second quarter, primarily due to declines in Americas and Europe. Smartwatch sales decreased 46% reflecting lower consumer demand across geographies and channels and our deemphasis of the category as compared to the prior year period. The leathers category decreased 6% and jewelry sales declined 19% in constant currency during the second quarter. From a brand lens, the majority of the brands in our portfolio decreased in the second quarter. FOSSIL branded sales decreased 8% in constant currency largely driven by declines in smartwatches and leathers, while traditional watch sales increased slightly.

•Gros

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS

Maintains Full Year 2023 Outlook; Extends Armani and Diesel license agreements

Richardson, TX, MAY 10, 2023 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended April 1, 2023.

First Quarter Summary

•First quarter worldwide net sales decreased to $325 million, down 14% on a reported basis and 11% in constant currency, with declines in all three regions.

•Direct to consumer net sales up 8% in constant currency, with comparable retail sales growth of 13% and growth in all three regions. Net sales in our wholesale channels were down 20%.

•Operating loss of $37 million compared to $14 million a year ago. Adjusted operating loss of $25 million compared to adjusted operating loss of $11 million last year.

•Inventory totaled $337 million, a decrease of 13% versus a year ago; cash and cash equivalents of $127 million at quarter end.

•During the first quarter, the company extended its licensing agreements with Diesel S.p.A through 2027 for watches and jewelry. Subsequent to the end of the first quarter, the Company extended its global licensing agreement with Giorgio Armani S.p.A. through 2026.

“We made continued progress on the initiatives under our Transform and Grow (TAG) Plan during the first quarter,” said Kosta Kartsotis, Chairman and CEO. “Our top line results were in line with our expectations and reflect continued strength in our direct-to-consumer channels, offset by ongoing pressure in the wholesale channel globally. Our digital and marketing initiatives are helping us build brand heat and drive momentum in our e-commerce business, as well as our owned retail stores, which delivered comparable retail sales growth of 13% in the first quarter.”

“Looking at the balance of 2023, we remain focused on our three major pillars designed to drive top line growth: revitalizing the FOSSIL brand, growing our core licensed brands in watches and jewelry and expanding our premium brands and offerings. Most recently, we successfully renewed our worldwide license agreement for the Emporio Armani and Armani Exchange brands for watches and jewelry through 2026, continuing a long-term partnership of more than 25 years. We believe the strategies under our TAG Plan will advance our goal to return to top line growth, maximize profitability and create long-term shareholder value.”

First Quarter 2023 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $325.0 million, a decrease of 14% on a reported basis and 11% in constant currency compared to $375.9 million in the first quarter of fiscal 2022. Net sales, in constant currency, declined 15% in the Americas, 11% in Europe and 2% in Asia. Wholesale sales declined 20%, partially offset by 8% growth in our direct to consumer channels on a constant currency basis. Within our direct to consumer channels, comparable retail sales grew 13%. Traditional watch sales declined 11% in constant currency in the first quarter compared to the prior year period. Net sales in smartwatches decreased 34% in constant currency, reflecting lower consumer demand across geographies and channels as compared to the prior year period. The leathers category grew 21% and jewelry sales decreased 13% in constant currency during the first quarter. From a brand lens, MICHAEL KORS and EMPORIO ARMANI decreased in the first quarter. FOSSIL branded sales increased 1% in constant currency.

•Gross profit totaled $160.7 million compared to $184.3 million in the first quarter of 2022. Gross margin increased 40 basis points to 49.4% versus 49.0% a year ago and primarily reflected timing of licensor minimum royalty costs and favorable product and region mix. These benefits were partially offset by an unfavorable currency impact, increased promotions and a $5.3 million restructuring charge related to product offering exits.

•Operating expenses totaled $198.0 million compared to $198.6 million a year ago. As a percentage of net sales, operating expenses were 60.9% in the first quarter of 2023 compared to 52.8% in the prior year first quarter. Operating expenses in the first quarter of 2023 included $7.1 million of restructuring costs, primarily related to employee costs, while operating expenses in the first quarter of 2022 included $2.6 million of restructuring costs. Selling, general and administrative (“SG&A”) expenses were $190.8 million compared to $195.7 million in the first quarter of 2022. As a percentage of net sales, SG&A expenses were 58.7% in the first quarter of 2023 compared to 52.1% in the prior year first quarter, largely driven by decreased sales.

•Operating loss was $37.3 million compar

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS

Outlines Transform and Grow Strategy; Provides 2023 Outlook

Richardson, TX, March 8, 2023 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fourth quarter and fiscal year ended December 31, 2022.

Fourth Quarter and Full Year Summary

•Fourth quarter worldwide net sales decreased to $499 million, down 17% on a reported basis and 12% in constant currency with sales declines across all regions. Growth in the Company’s direct to consumer channel was offset by declines in wholesale.

•Full year worldwide net sales decreased to $1,682 million, down 10% on a reported basis and 5% in constant currency with wholesale channel sales down 11% in constant currency and direct to consumer channel sales up 5%, including comparable retail sales growth of 15%.

•Full year operating loss was $1 million compared to operating income of $93 million a year ago. Adjusted operating income decreased to $7 million, or 0.4% of net sales, compared to an adjusted operating income of $124 million, or 6.6% of net sales, last year.

•Full year diluted loss per share was $0.85 and adjusted loss per share was $0.71, as compared to diluted earnings per share of $0.48 and adjusted earnings per share of $1.12 in the prior year.

•As of December 31, 2022, cash and cash equivalents of $199 million.

“Our teams navigated a dynamic macro environment in 2022,” said Kosta Kartsotis, Chairman and CEO. “Despite ongoing inflationary pressures and other global headwinds, we made solid progress in our core initiatives to advance our digital roadmap and build FOSSIL brand heat. The year came to a challenging close – against the backdrop of a retail landscape marked by elevated wholesale inventories and increased promotional activity, strength in our direct to consumer business was more than offset by soft topline trends in our wholesale channel globally.”

“While we expect external market dynamics to remain fluid, we are committed to improving our financial performance through our Transform and Grow Plan, designed to reduce our operating expenses, improve operating margin, enhance operational effectiveness, and advance our path to profitable growth.”

Fourth Quarter 2022 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $499.1 million, a decrease of 17% on a reported basis and 12% in constant currency compared to $604.2 million in the fourth quarter of fiscal 2021. Net sales, in constant currency, decreased 13% in Asia and 12% each in the Americas and Europe versus the same quarter last year. Wholesale sales declined 24%, partially offset by 8% growth in our direct to consumer channels. Within our direct to consumer channels, comparable retail sales grew

17%. Traditional watch sales declined 15% in constant currency in the fourth quarter, while smartwatch sales decreased 32%, reflecting lower consumer demand across geographies and channels as compared to the prior year period. The leathers category grew 30% and jewelry sales decreased 3% in constant currency during the fourth quarter. From a brand lens, MICHAEL KORS, EMPORIO ARMANI and FOSSIL sales decreased in the fourth quarter. FOSSIL branded sales decreased 2% in constant currency with growth in leathers and jewelry more than offset by declines in watches.

•Gross profit totaled $235.4 million compared to $302.4 million in the fourth quarter of 2021. Gross margin decreased 290 basis points to 47.2% versus 50.1% a year ago. The year-over-year decrease primarily reflects an unfavorable currency impact, increased freight costs and increased promotions. These costs were partially offset by increased net foreign currency hedging contract gains in the current year as compared to the prior year and favorable product mix.

•Operating expenses totaled $234.1 million compared to $255.2 million a year ago. As a percentage of net sales, operating expenses were 46.9% in the fourth quarter of 2022 compared to 42.2% in the prior year fourth quarter. Selling, general and administrative (“SG&A”) expenses were $232.2 million compared to $249.1 million in the fourth quarter of 2022, a reduction of 7%. As a percentage of net sales, SG&A expenses were 46.5% in the fourth quarter of 2022 compared to 41.2% in the prior year fourth quarter, largely driven by deleveraging on lower sales.

•Operating income decreased to $1.3 million compared to $47.2 million in the fourth quarter of 2021. Operating margin was 0.3% in the fourth quarter of 2022 compared to 7.8% in the prior year fourth quarter. Adjusted operating income totaled $3.2 million compared to $53.3 million in the fourth quarter of 2021. Adjusted operating margi

fosl-20230215

0000883569false00008835692023-02-152023-02-150000883569us-gaap:SeniorNotesMember2023-02-152023-02-15

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 15, 2023

FOSSIL GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-41040 75-2018505

(State or other jurisdiction of(Commission File Number)(IRS Employer

incorporation or organization)Identification No.)

901 S. Central Expressway

Richardson,Texas75080

(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (972) 234-2525

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐       Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each classTicker SymbolName of each exchange on which registered

Common Stock, par value $0.01 per shareFOSLThe Nasdaq Stock Market LLC

7.00% Senior Notes due 2026FOSLLThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐            Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02Results of Operations and Financial Condition.

Fossil Group, Inc. (the “Company”) reports that 2022 worldwide net sales are expected to be approximately $1.7 billion, representing a decrease of approximately 10% on a reported basis and 5% on a constant currency basis compared to full year 2021. The previous guidance range was a sales decline of 7% to 10% on a reported basis. Full year adjusted operating margin is expected to be approximately 0.4% compared to previous guidance of 2% to 3%. A reconciliation of adjusted operating margin, a non-GAAP financial measure, to a corresponding GAAP measure is not provided, as a reconciliation is not available until such time as the Company finalizes its financial statements for fiscal 2022.

The Company plans to report financial results for the fourth quarter and full year ended December 31, 2022 after market close on Wednesday, March 8, 2023, followed by a conference call to discuss the results at 5:00 p.m. ET the same day.

Item 7.01Regulation FD Disclosure.

In addition, the Company is implementing a restructuring and growth initiative, “Transform and Grow” (the “TAG Plan”), designed to reduce operating costs, improve operating margins, and advance the Company’s commitment to profitable growth. The TAG Plan is expected to be implemented over a two year period and is intended to generate estimated annualized benefits of at least $100 million by the end of 2024. The TAG Plan includes a reduction of the Company’s current global workforce in 2023 by approximately eight percent, which includes employee reductions resulting from store closures. Decisions regarding the elimination of positions, including the timing thereof, are subject to local law and consultation requirements in certain countries, as well as the Company’s business needs.

The Company estimates that it will incur approximately $25 million to $30 million in charges in connection with the TAG Plan during fiscal 2023, of which approximately $10 million is expected to be incurred in the first quarter of fiscal 2023. The charges in the first quarter of fiscal 2023 consist primarily of costs related to employee transition, severance payments and employee benefits. The estimates of the charges that the Company expects to incur in connection with the TAG Plan, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from such estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur.

Safe Harbor

Certain statements contained in Items 2.02 and 7.01 of this Current Report on Form 8-K that are not historical facts, constitute “forward-looking statem

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS

Provides Updated Full Year 2022 Outlook

Richardson, TX, NOVEMBER 9, 2022 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the third quarter ended October 1, 2022.

Third Quarter Summary

•Third quarter worldwide net sales totaled $436 million, decreasing 11% on a reported basis and 5% in constant currency. From a regional lens, Americas and Asia sales declined while Europe was flat on a constant currency basis.

•Direct to consumer net sales increased 5% in constant currency, led by growth in retail store sales and owned websites.

•FOSSIL brand sales grew in leathers, traditional watches and jewelry, offset by declines in smartwatches, resulting in a total sales decline of 2% in constant currency.

•Operating income of $22 million compared to $48 million a year ago. Adjusted operating income of $23 million compared to adjusted operating income of $54 million last year.

•As of October 1, 2022, cash and cash equivalents of $163 million.

“Our third quarter results were in line with our expectations against the backdrop of continued macro headwinds globally,” said Kosta Kartsotis, Chief Executive Officer. “The trends we saw in the second quarter have largely persisted into the second half of the year. These include ongoing COVID-19 restrictions in mainland China, elevated inventory levels among our wholesale partners and global inflation, which is affecting consumer sentiment. Additionally, the record strength of the U.S. dollar reduced our net sales and operating margins in the third quarter.”

“Our teams executed well in a dynamic environment and have recently completed important milestones on our 2022 digital roadmap in time to support holiday selling. Entering the holiday selling season, we are delivering excitement through product innovation across watches, jewelry and leathers, including our recently launched Fossil Heritage Collection, which celebrates our iconic designs, as well as our new limited-edition Harry Potter x Fossil collaboration. Recognizing that the macro headwinds will persist into 2023, we are sharpening our focus on capturing efficiencies in our business model, while driving growth through our digital roadmap and updated FOSSIL brand strategy.”

Third Quarter 2022 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $436.3 million, a decrease of 11% on a reported basis and 5% in constant currency compared to $491.8 million in the third quarter of fiscal 2021. Net sales, in constant currency, were flat in Europe and declined 17% in Asia and 4% in the Americas versus the same quarter last year. Net sales in our Asia region were significantly impacted by net sales in mainland China, where ongoing restrictions related to COVID policies have impacted demand. The sales declines in the three regions were partly offset by increases in corporate revenue recognized over time, due to the timing of progress in completing performance obligations under a licensing agreement. Traditional watch sales declined 4% in constant currency in the third quarter, primarily due to declines in greater China, while smartwatch sales decreased 34% reflecting lower consumer demand across geographies and channels as compared to the prior year period. The leathers category grew 17% and jewelry sales decreased 9% in constant currency during the third quarter. FOSSIL branded sales decreased 2% in constant currency with strength in leathers, traditional watches and jewelry more than offset by declines in smartwatches. Direct to consumer net sales increased 5% in constant currency, led by growth in retail store sales and owned websites. Total digital sales were down 12% in constant currency versus the prior year period and comprised 37% of our sales mix compared to 40% in the prior year period. Lower digital sales were primarily due to declines in third party e-commerce platforms.

•Gross profit totaled $219.6 million compared to $259.5 million in the third quarter of 2021. Gross margin decreased 250 basis points to 50.3% versus 52.8% a year ago. The year-over-year decrease primarily reflects increased freight costs, an unfavorable currency impact and increased promotions. These costs were partially offset by increases in revenue recognized over time, due to the timing of progress in completing performance obligations under a licensing agreement, increased net foreign currency hedging contract gains in the current year as compared to the prior year and favorable product mix.

•Operating expenses totaled $197.1 million compared to $211.7 million a year ago. As a percentage of net sales, operating expenses were 45.2% in the third qua

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS

Provides Updated Full Year 2022 Outlook

Richardson, TX, AUGUST 10, 2022 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the second quarter ended July 2, 2022.

Second Quarter Summary

•Second quarter worldwide net sales decreased to $371 million, down 10% on a reported basis and 5% in constant currency, reflecting declines across all three regions.

•FOSSIL brand sales increased 7% in constant currency with double digit growth in traditional watches, jewelry and leathers partially offset by declines in smartwatches.

•Direct to consumer net sales increased 5% in constant currency, led by 26% growth in store sales largely offset by decreased e-commerce sales.

•Operating loss of $11 million compared to operating income of $14 million a year ago. Adjusted operating loss of $8 million compared to adjusted operating income of $21 million last year.

•As of July 2, 2022, cash and cash equivalents of $167 million.

“During the second quarter, global operating conditions remained challenging,” said Kosta Kartsotis, Chairman and CEO. “We saw softening consumer demand during the quarter, reflecting ongoing inflationary pressure and continued pandemic-related restrictions in China. Additionally, the slowdown in consumer purchasing led to fewer inventory replenishment orders from our wholesale partners. While this macro backdrop impacted our core traditional watch category, our jewelry and leathers businesses grew at double digit rates in the quarter.”

“We believe consumer sentiment will continue to be pressured in the second half of the year and have adjusted our full year outlook to reflect moderating demand globally. Our teams are remaining agile while focusing on our core initiatives in digital and brand heat, and we are confident that our strategies will maximize shareholder value over the long term.”

Second Quarter 2022 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $371.2 million, a decrease of 10% on a reported basis and 5% in constant currency compared to $410.9 million in the second quarter of fiscal 2021. Net sales, in constant currency, decreased 6% in Asia, 4% in the Americas and 3% in Europe versus the same quarter last year. Traditional watch sales declined 7% in constant currency in the second quarter while smartwatch sales decreased 18%, largely driven by the Americas as compared to the prior year period. The leathers and jewelry categories each grew 12% in constant currency during the second quarter. FOSSIL branded sales increased 7% in constant currency with growth in Asia and the Americas partially offset by a decrease in Europe. Direct to consumer net sales increased 5% in constant currency, led by 26% growth in store sales largely offset by decreased e-commerce sales. Total digital sales were down 21% in constant currency versus the prior year period and reflected 35% of our sales mix compared to 41% in the prior year period. Lower digital sales were primarily due to traffic shifts from owned e-commerce to brick and mortar distribution in Europe and the Americas and COVID driven lockdowns in mainland China.

•Gross profit totaled $191.3 million compared to $221.8 million in the second quarter of 2021. Gross margin decreased 240 basis points to 51.6% versus 54.0% a year ago. The year-over-year decrease primarily reflects a non-recurrence of the prior year's tariff reductions, increased freight costs and an unfavorable currency impact. These costs were partially offset by favorable product mix and pricing increases and net foreign currency hedging contract gains in the current year as compared to net foreign currency hedging contract losses last year.

•Operating expenses totaled $202.3 million compared to $207.5 million a year ago. As a percentage of net sales, operating expenses were 54.5% in the second quarter of 2022 compared to 50.5% in the prior year second quarter. Selling, general and administrative (“SG&A”) expenses were $199.2 million compared to $200.5 million in the second quarter of 2021. As a percentage of net sales, SG&A expenses were 53.7% in the second quarter of 2022 compared to 48.8% in the prior year second quarter, largely driven by increased compensation costs and investments in our digital initiatives, which were partially offset by a decline in marketing expenses and reduced store costs resulting from lower store count.

•Operating income (loss) was a loss of $10.9 million compared to income of $14.3 million in the second quarter of 2021. Operating margin was (2.9)% in the second quarter of 2022 compared to 3.5% in the prior year second quarter. Adjusted operating loss totaled

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FIRST QUARTER 2022 FINANCIAL RESULTS

Provides Updated Full Year 2022 Outlook

Richardson, TX, MAY 11, 2022 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended April 2, 2022.

First Quarter Highlights

•First quarter worldwide net sales increased to $376 million, up 4% on a reported basis and 6% in constant currency, led by constant currency sales growth of 20% and 6% in the Europe and Americas regions, respectively.

•Net sales for traditional watches grew 10% in constant currency, with 22% and 20% growth in the Americas and Europe regions, respectively.

•Operating loss of $14 million compared to $17 million a year ago. Adjusted operating loss of $11 million compared to $5 million last year.

•During the first quarter of fiscal 2022, the Company invested $10 million in repurchasing 989,000 shares of the Company’s common stock at an average price of $10.11 per share.

“We are pleased to deliver strong first quarter revenue performance amidst an increasingly challenging macro environment,” said Kosta Kartsotis, Chairman and CEO. “Results were highlighted by notable strength in the U.S. and Europe, as well as continued momentum in traditional watches and jewelry.”

“As the quarter progressed, external headwinds intensified, marked by the onset of the Ukraine crisis, Covid lockdowns in China and global inflationary pressures. While our teams are continuing to execute well amidst the fluid macro environment, we are adopting a more conservative near-term outlook to reflect these transitory factors that are affecting our international business, as well as the impact of a strengthening U.S. dollar. Importantly, we remain confident that our digitally-led, omni-channel model will support long-term growth and profitability, enabling us to build meaningful value for our shareholders in the years ahead.”

First Quarter 2022 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $375.9 million, an increase of 4% on a reported basis and 6% in constant currency compared to $363.0 million in the first quarter of fiscal 2021. Net sales, in constant currency, grew 20% in Europe and 6% in the Americas while decreasing 10% in Asia versus the same quarter last year. Traditional watch sales grew 10% in constant currency in the first quarter compared to the prior year period. Net sales in smartwatches decreased 26% in constant currency largely driven by the Americas as compared to the prior year period which included the launch of LTE product and older generation product liquidation. Total digital sales were down 17% vs the prior year period and reflected 34% of our sales mix compared to 43% in the prior year period. Lower digital sales were primarily due to COVID driven lockdowns in mainland China and traffic shifts from owned e-commerce to brick and mortar distribution.

•Gross profit totaled $184.3 million compared to $182.6 million in the first quarter of 2021. Gross margin decreased 130 basis points to 49.0% versus 50.3% a year ago and primarily reflected increased freight and duty costs of approximately 180 basis points and unfavorable regional mix. These costs were partially offset by decreased promotional activity and reduced smartwatch product liquidation.

•Operating expenses totaled $198.6 million compared to $199.4 million a year ago. As a percentage of net sales, operating expenses were 52.8% in the first quarter of 2022 compared to 54.9% in the prior year first quarter. Selling, general and administrative (“SG&A”) expenses were $195.7 million compared to $187.4 million in the first quarter of 2021. As a percentage of net sales, SG&A expenses were 52.1% in the first quarter of 2022 compared to 51.6% in the prior year first quarter, largely driven by increased labor costs and investments in our strategic initiatives which were only partially offset by reduced store costs associated with a lower store count.

•Operating loss was $14.3 million compared to $16.8 million in the first quarter of 2021. Operating margin was (3.8)% in the first quarter of 2022 compared to (4.6)% in the prior year first quarter. Adjusted operating loss totaled $11.4 million compared to $4.8 million in the first quarter of 2021. Adjusted operating margin was (3.0)% in the first quarter of 2022 compared to (1.3)% in the prior year first quarter.

•Interest expense decreased to $4.0 million compared to $7.3 million in the first quarter of 2021, primarily driven by reduced debt issuance costs amortization and a lower debt balance.

•Other income (expense) was income of $1.6 million compared to income of $1.9 million in the first quarter of 2021.

•Income (loss) before income

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Exhibit 99.1

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS

Full Year 2021 Worldwide Net Sales Up 16% to $1.9 Billion

Profitability Improved Significantly with Full Year Diluted EPS of $0.48 and Adjusted EPS of $1.12

Provides 2022 Outlook

Richardson, TX, March 9, 2022 (GLOBE NEWSWIRE) - Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the fourth quarter and fiscal year ended January 1, 2022.

Quarter and Full Year Highlights

•Fourth quarter worldwide net sales increased to $604 million, up 14% on a reported basis and 16% in constant currency, led by 26% and 21% sales growth in the Americas and Europe regions, respectively.

•Full year worldwide net sales increased to $1.9 billion, up 16% on a reported basis and 14% in constant currency. Net sales through all digital channels grew 23% and 74%, on a reported basis, compared to full year 2020 and 2019, respectively, and represented 41% of worldwide net sales.

•Full year operating income increased to $93 million, or 5% of net sales, compared to operating loss of $135 million, or negative 8.4% of net sales a year ago. Adjusted operating income increased to $124 million compared to an adjusted operating loss of $65 million last year, while adjusted operating margin expanded to 6.6% from negative 4%.

•Full year diluted earnings per share was $0.48 and adjusted earnings per share was $1.12 as compared to diluted loss per share of $1.88 and adjusted loss per share of $0.79 in the prior year.

•Balance sheet strengthened with the completion of a $150 million unsecured senior notes offering in November 2021. As of January 1, 2022, total liquidity was $451 million, consisting of cash and cash equivalents of $251 million and $200 million of borrowing availability, and total debt was $142 million.

“Our 2021 financial results reflect increasing consumer demand and strength across key categories and regions,” said Kosta Kartsotis, Chairman and CEO. “Despite ongoing macro challenges, including pandemic related restrictions and supply chain headwinds, superior execution by our teams resulted in double-digit topline growth of 16% and significantly improved profitability.

During the year, we successfully completed our $250 million New World Fossil 2.0 – Transform to Grow program and accelerated strategic investments in digital capabilities and brand building to drive customer engagement and increase lifetime value.”

Kartsotis concluded, “With a leaner cost structure and a more robust data-driven digital platform, we entered 2022 well-positioned to capitalize on improving brand strength and consumer demand. While we recognize that current geopolitical circumstances may impact consumer sentiment, we remain confident that executing our core operating and growth strategies will enable us to deliver sustainable, profitable growth and value creation for our shareholders over the long-term.”

Fourth Quarter 2021 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

•Net sales totaled $604.2 million, an increase of 14% on a reported basis and 16% in constant currency compared to $528.1 million in the fourth quarter of fiscal 2020. Net sales, in constant currency, grew 26% in the Americas and 21% in Europe while decreasing 11% in Asia versus the same quarter last year. Traditional watch sales grew 18% in constant currency in the fourth quarter compared to the prior year period. Additionally, total digital sales grew 7%, on a reported basis, in the fourth quarter and represented 40% of worldwide net sales.

•Gross profit totaled $302.4 million compared to $259.6 million in the fourth quarter of 2020. Gross margin increased 90 basis points to 50.1% versus 49.2% a year ago and primarily reflected decreased promotional activity, favorable currency impacts and reduced smartwatch product liquidation. These benefits were partially offset by increased freight costs, minimum licensor royalty cost reductions in the prior year fourth quarter and unfavorable regional mix.

•Operating expenses totaled $255.2 million compared to $241.3 million a year ago. As a percentage of net sales, operating expenses were 42.2% in the fourth quarter of 2021 compared to 45.7% in the prior year fourth quarter. Selling, general and administrative (“SG&A”) expenses were $249.1 million compared to $223.9 million in the fourth quarter of 2020. As a percentage of net sales, SG&A expenses were 41.2% in the fourth quarter of 2021 compared to 42.4% in the prior year fourth quarter, largely driven by the contraction of sales in fiscal year 2020 due to the COVID-19 pandemic and cost reductions driven by New World Fossil initiatives.

•Operating income increased to $47.2 million compared to $18.3 million in the fourth qua