I absolutely agree with everyone who thinks that the future of Fossil is to become a small company because the company will have to cut additional costs to adjust to poor sales.
I see no room for optimism.
I'm just wondering how much Fossil will have to shrink in the end, what will be left of this company?
12 replies (most recent on top)
Dude..maybe you should work at a charity - Fossil is a business, sales have come down dramatically and they had to cut jobs to stay profitable...that s all there is. Blame Apple rather than management.
@fubo Wow "dude".... the arrogance....you're actually lurking on a board and speaking of padding your "investment" in a company that has employees that suffered job loss and worse yet permanent decreased pay and longer hours...not to mention losing their jobs to outsourcing to an overseas corp that Fossil established long before the pandemic. Somethings are just unfortunately inevitable in sustaining business, but your admission of posting "to gain some insights to instruct my investments in the stock" is just....smh...no words.
Dude...the joke is on you, i dont even work at Fossil - i am just here to gain some insights to instruct my investments in the stock which, to be honest, have gone pretty well so far! so thanks very much for the inputs..
@fubo is CLUELESS and apparently easily annoyed 😂😂😂 it was a simple question...actually just one to elicit the exact reactions you are giving. Point proven about the lack of talent and the level of toxicity that has been allowed to fester within a company that since 2007 has has Yearly layoffs.
Sales-schmales...thanks for playing! 😂😂😂
man i assume that if you work at any company in any role you should know the basic facts - when did Fossil do "billions" in sales? in any given here you have worked there, whatever it is that you do. best wishes.
@fubo I do not know what you 'do at Fossil' either; however, I do know grade school taught us not to begin sentences with lowercase letters, nor is the pronoun "I" ever to be used in the lowercase within a sentence. And again, the QUESTION that was posed was WHEN did Fossil have billions in Net Sales..I never in your words "claimed the company did not have "billions" of net sales". That was SIMPLY your interpretation...ummmm, and I wonder why Fossil has so many issues...employees that do not read with understanding....
Hmmmmmm.....what "do you do" at Fossil!
i dont know what you do at Fossil but i hope it does not involve numbers...you claimed the company did not have "billions" of net sales...that is simply untrue...the figures are public domain and irrefutable...sales have declined for sure but realistically they will stabilize around 2bn and if that is the case after the recent cost reductions Fossil should be profitable going forward.
'Credibility of this forum'...HA..so given your own "credible retorts" my educated and common sense guess is, from the tone of your words.... you are one of the many "Credible" Sources of the problem at Fossil.
Okay, so thanks...as I said, I'll wait....
So given that 'fact'...when did the Net Sales contribute or yet stop contributing to positive Net Income growth for Fossil?
Fossil Group net sales have exceeded two billions of net sales in every year for the past 10 years, except for 2020 which was impacted by COVID. Fact. Being critical if management is one thing, not admitting facts damaged the credibility of this forum.
When...in past years has Fossil achieved billions in 'Net' Sales??? I'll wait...
I dont think much more - the company cut about 500mn in operating costs in the last 3 years which was a massive effort and reduction. If sales can stabilize around 2bn or slightly more, with 50pc gross margin Fossil can return to be profitable. Some cost reduction will however continue in the store network in the US where there are still too many shops as consumers continue to move online. But in terms of big numbers, i think the worse is behind and no more major cost cutting initiatives are ahead.