Fossil Group shareholders make key decisions at annual meeting

Fossil Group, the Texas-based watch and accessory maker, recently finalized its annual shareholder meeting with high levels of support for its leadership and financial oversight. 

Shareholders voted to retain eight board members and gave the green light to the company’s executive pay structure and its choice of auditor, Deloitte & Touche.

Despite these internal approvals, the company faces a challenging external environment. While its revenue of $270.2 million last quarter beat its targets, its per-share losses were significantly wider than Wall Street expected. 

The company is currently navigating a period of transition; it recently secured a lifeline by restructuring $150 million in debt, a move that earned it a credit rating upgrade from S&P Global. While this buys the company more time (pushing its next major debt deadline to 2029) analysts remain wary of the 6% dip in annual revenue.