It sounds like Fossil Group isn’t in particularly bad financial shape.
“Considering that we have not found any problem in the company's fundamentals, we can be reasonably certain that the depressed price today can only be the result of investor irrationality. For that reason, I believe that the Fossil Group represents a good opportunity for investors.”
http://seekingalpha.com/article/3417596-low-p-e-stock-of-the-day-no-11-fossil-group?auth_param=14j8ug:1asedpo:42cf0948a3a680b0ddce0784297c2536&dr=1