Added to YB: 2026-09-02
Pitch date: 2026-08-28
FOSL [neutral]
Fossil Group, Inc.
-7.22%
current return
Author Info
Pari Passu is a Private Equity investor at a major hedge fund who writes about anything they find interesting in investing. Sign up for the newsletter.
Company Info
Fossil Group, Inc., together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally.
Market Cap
$303.0M
Pitch Price
$5.26
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.37
P/E
-4.34
EV/Sales
0.56
Sector
Textiles, Apparel and Luxury Goods
Category
special_situation
Fossil Group and the new ‘Stapled-Exchange’ LME
FOSL (update): Fossil, now focused on traditional proprietary and licensed watches after exiting smartwatches, narrowly avoided a US bankruptcy filing through a stapled exchange and UK Part 26A restructuring involving $150M of difficult-to-amend baby bonds. The structure was designed to preserve its Nasdaq listing and leave $424M of operating liabilities unimpaired while addressing the bonds’ springing-maturity consequences; Fossil’s 2023-24 turnaround delivered $280M of annualized operating-income benefit, yet adjusted EBITDA remained negative in both years.
Read full article (14 min)