Fossil (FOSL) Stock

Fossil Group, Inc. (NASDAQ:FOSL ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Christine Greany - The Blueshirt Group Franco Fogliato - Director & CEO Andrew Skobe - Interim CFO Conference Call Participants Operator Good afternoon, ladies and gentlemen, and welcome to the Fossil Group Third Quarter 2024 Earnings Call. At this time, all parties are in listen-only mode.

FOSL's Q3 2024 shows narrower year-over-year losses and improved margins, driven by cost-cutting and strategic shifts under its TAG Plan, despite a 16.4% revenue decline due to weaker demand.

Remains On Track to Achieve at Least $100 Million of Annualized Savings in 2024 Under TAG Plan Updates Full Year Outlook RICHARDSON, Texas, Nov. 07, 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.

A global transition to displace fossil fuels will help accelerate growth for clean energy technology. This will push the demand higher for energy transition materials.

RICHARDSON, Texas, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (“Fossil” or the “Company”) today announced the appointment of Franco Fogliato as Chief Executive Officer and a member of the Board of Directors. He succeeds Jeffrey Boyer, Fossil's Interim CEO, who will resume his previous role as Chief Operating Officer and step down from the Board of Directors, all effective September 18, 2024.

William Blair analyst Jed Dorsheimer launched coverage of GE Vernova stock with a Buy rating. Now 74% of analysts covering the electricity-production technology firm are bullish.

Fossil's (FOSL) Q2 results show a wider net loss due to a 19% sales drop, despite improvements in gross margin and cost reductions driven by strategic shifts under the TAG Plan.

Believe it or not, electric vehicles do outperform their fossil fuel counterparts in some ways. From the perspective of sheer performance, that most obviously manifests as dramatically faster acceleration times.

EVs are the future of transportation. As the world becomes greener due to shifting consumer preferences or government legislation, EVs will become more popular and important in the car industry.