Fossil names interim CFO after finance chief follows CEO out the door

Quick Summary:

The watch and jewelry retailer is bringing in a Radisson Hotel and Icahn Enterprises alum as interim CFO after reporting a 22% drop in net sales for its most recent quarter.

For the full year, its net loss ballooned to $157 million compared to $44.2 million the previous year.

The retailer is facing significant financial challenges following a disappointing 2023 and a lukewarm start to 2024 that has led it to make sweeping executive shifts over the past year.

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Article Details

Author / Journalist: Grace Noto

Category: Business

Markets: United States

Topics: Million Company Fossil Fossil’s Operating Sales Year According Interim 2023 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-02 @ 10:10:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 575 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 21466035

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Main Topics: Business

Official Website: retaildive.com

Year Established: 2012

Headquarters: United States

News Last Updated: 2 days ago

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