Business
FOSSIL GROUP, INC. PROVIDES COVID-19 BUSINESS UPDATE
RICHARDSON, Texas, March 17, 2020 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (the “Company” or “Fossil Group”) today provided the following
About this update from Fossil Group, Inc.
[{"type":"text","content":"RICHARDSON, Texas, March 17, 2020 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (the “Company” or “Fossil Group”) today provided the following business update regarding COVID-19.\n We are extremely concerned about the health issues and uncertainty that COVID-19 is causing globally. We must all take great care and exercise caution during this time and Fossil is doing its part to protect our communities, customers and team members. As a result, we are closing all our stores in North America, as well as a substantial number of stores in Europe based on local government guidelines, through March 28th. We will continue to pay our store teams throughout that time period. Our Asia Pacific stores are currently operating. Our online stores will remain open and available at fossil.com. For service and support, please contact us at [email protected] or (800) 449-3056. To further safeguard our employees and communities outside of our store environment, we have enabled employees to work from home where possible. For roles that require employees to be on-site, we are practicing social spacing, modifying work schedules to reduce density and increasing sanitizing standards. Due to heightened uncertainty surrounding COVID-19, we are withdrawing our first quarter and full year 2020 financial guidance issued on February 26, 2020. We expect to provide a further update during our first quarter 2020 earnings conference call. Safe HarborCertain statements contained herein that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: the effect of worldwide economic conditions; the impact of the coronavirus; significant changes in consumer spending patterns or preferences; interruptions or delays in the supply of key components; acts of war or acts of terrorism; changes in foreign currency valuations in relation to the U.S. dollar; lower levels of consumer spending resulting from a general economic downturn or generally reduced shopping activity caused by public safety or consumer...