Kanen Wealth Management Excoriates Fossil Board of Directors and Management for Unacceptably Slow Restructuring Plan
Fossil Group, Inc. (FOSL)
Last fossil group, inc. earnings: 11/6 04:03 pm
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US:NASDAQ Investor Relations:
fossilgroup.com/investors
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Source: GlobeNewswire
COCONUT CREEK, Fla., April 18, 2024 (GLOBE NEWSWIRE) -- Kanen Wealth Management, LLC, (“KWM”) owner of approximately 4% of the Fossil Group, Inc.'s (Nasdaq: FOSL) 7% Senior Notes due 2026 (Nasdaq: FOSLL), issues the following open letter to the Company’s Directors: Dear FOSL Directors, Fossil is a $1 bill + co., and a solid brand with ample opportunity, one that enjoys high gross margins in excess of 50%. Judging by the actions of the board and management, there is a lack of urgency in executing its strategic initiatives and returning to profitability. To date, we have little to show as a result of the Transform and Grow plan (TAG). Fossil shares are down approximately 80% since the plan was announced in February 2023. Despite closing stores and slashing headcount, the company still reported a loss for the year. You routinely miss your own guidance. In our opinion, closing 50 additional stores in 2024 via lease expirations simply isn’t going to move the needle. We are concerned t
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News
- Fossil Group, Inc. Announces Date for First Quarter 2024 Earnings Release and Conference CallGlobeNewswire
- Kanen Wealth Management Excoriates Fossil Board of Directors and Management for Unacceptably Slow Restructuring Plan [Yahoo! Finance]Yahoo! Finance
- Fossil Group Announces Appointment of Eugene Davis and Pamela Corrie to Board of Directors [Yahoo! Finance]Yahoo! Finance
- Fossil Group Announces Appointment of Eugene Davis and Pamela Corrie to Board of DirectorsGlobeNewswire
- Fossil Group, Inc. (NASDAQ:FOSL) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
FOSL
Sec Filings
- 4/30/24 - Form PRE
- 4/29/24 - Form 10-K/A
- 4/17/24 - Form 4
- FOSL's page on the SEC website