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Fossil to Close up to 15 More Stores in 2026 as Turnaround Continues
The retailer said it will invest more in online sales as first-quarter adjusted operating income reached $10 million.
- On Thursday, July 16, 2026, Fossil announced plans to close 15 stores this year as malls continue facing declining retail sales, extending the company's multi-year effort to reduce its brick-and-mortar footprint.
- These closures are part of a broader turnaround strategy that generated about $100 million in cost savings during fiscal 2025, aimed at refocusing on core business and strengthening the balance sheet.
- CEO Franco Fogliato noted the company had "significantly scaled back" its downsizing plan as first-quarter operating income improved to $12 million and net loss narrowed to approximately $810,000.
- Shifting focus toward e-commerce, Fossil plans to end the year with about 185 stores worldwide, with Fogliato identifying investment in online platforms as a main priority.
- Fossil warned investors that customer traffic depends heavily on the health of malls and shopping centers, cautioning that declining mall traffic or anchor-store closures could negatively affect its business.
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BizToc
BizTocAmerican mall retailer warns it may close up to 15 more stores this year
Fossil Group plans to close up to 15 stores this year as the watch and accessories company continues trimming its global retail footprint under a broader turnaround plan focused on costs, profitability and balance-sheet strength.Executives for the Richardson, Texas-based company said on Fossil’s first-quarter earnings call that the company shuttered seven stores during the quarter and expects total closures to reach up to 15 locations in 2026. T…
·New York, United States
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Total News Sources14
Leaning Left1Leaning Right1Center10Last UpdatedBias Distribution84% Center
Bias Distribution
- 84% of the sources are Center
84% Center
C 84%
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