Fossil Group Exits Net Zero Initiative as Green Century Fund Manager Withdraws
April 19, 2023
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Fossil Group ($NASDAQ:FOSL) has recently faced a setback in its Net Zero initiative, as the Green Century Fund Manager has withdrawn from it. The Green Century Fund Manager, which is an ethical fund manager free from fossil fuels and other environmentally damaging activities, has decided to withdraw from the Net Zero initiative due to the company’s lack of progress in meeting its environmental goals. FOSSIL GROUP is an American designer, marketer and distributor of fashion wear, accessories and lifestyle products. Its products are distributed through department stores, specialty retailers, e-commerce sites, and through its own retail stores around the world.
The company also licenses its name for watches, eyewear and jewelry. Fossil Group is publicly traded on the NASDAQ stock exchange under the symbol FOSL.
Share Price
This announcement caused Fossil Group‘s stock to open and close at $3.2, a 0.9% decrease from its last closing price. The Net Zero Initiative aimed to accelerate Fossil Group’s efforts to reduce its carbon footprint, and its departure from the project has left investors and shareholders wondering what this means for the company’s environmental initiatives going forward. It is clear that Fossil Group is taking a step back in its commitment to sustainability, and many are left to question the effectiveness of their sustainability efforts. Despite this setback, Fossil Group remains dedicated to taking responsible steps towards protecting the environment and building a more sustainable future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fossil Group. More…
| Total Revenues | Net Income | Net Margin |
| 1.68k | -44.16 | -2.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fossil Group. More…
| Operations | Investing | Financing |
| -110.86 | -8.55 | 52.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fossil Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.24k | 835.12 | 7.83 |
Key Ratios Snapshot
Some of the financial key ratios for Fossil Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -8.8% | -27.4% | -0.2% |
| FCF Margin | ROE | ROA |
| -7.4% | -0.5% | -0.1% |
Analysis
GoodWhale’s analysis of FOSSIL GROUP shows that the company is strong in asset and medium in profitability and weak in dividends and growth. By examining the financials and Star Chart of FOSSIL GROUP, GoodWhale has determined that the company has a high health score of 7/10, which indicates that it is capable of sustaining future operations in times of crisis. Furthermore, FOSSIL GROUP is classified as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. Investors who are looking for companies with a good balance sheet and are willing to take on a bit more risk may find FOSSIL GROUP interesting. Furthermore, investors interested in companies with strong asset base and good health scores may find FOSSIL GROUP to be an attractive long-term investment. More…
Peers
Fossil Group Inc is an American fashion designer and manufacturer founded in 1984. The company designs, markets, and distributes consumer fashion accessories, including watches, handbags, small leather goods, belts, wallets, jewelry, and eyewear. The company’s products are sold through department stores, specialty stores, watch and jewelry stores, company-owned retail stores, and e-commerce sites. Fossil Group’s competitors include Christian Dior SE, Brunello Cucinelli SpA, Ted Baker PLC, and a host of other companies in the luxury goods space.
– Christian Dior SE ($OTCPK:CHDRF)
Dior SE is a French luxury goods company that designs, manufactures, and markets a range of products including fashion, leather goods, jewelry, and fragrances. The company has a market capitalization of 114.24 billion as of 2022 and a return on equity of 73.73%. Dior is one of the leading luxury goods companies in the world and has a strong presence in markets such as Europe, the Americas, and Asia. The company’s products are sold through a network of boutiques and department stores.
– Brunello Cucinelli SpA ($OTCPK:BCUCY)
Brunello Cucinelli SpA is an Italian luxury fashion brand that was founded in 1978. The company designs, manufactures, and sells clothing, handbags, and other accessories. As of 2022, Brunello Cucinelli SpA has a market cap of 4.05 billion and a return on equity of 23.98%. The company’s products are sold in over 50 countries worldwide.
Summary
Investing in Fossil Group can be a risky endeavor, as one of its fund managers, Green Century, has recently left the Net Zero initiative. This leaves investors wondering about the potential for Fossil Group investments to generate satisfactory returns. It is important to note that Fossil Group has been unable to keep up with the pace of the changing market conditions, with many other competitors and suppliers having a more advanced focus on renewable energy sources. Furthermore, the company has also been struggling with a decrease in demand for its products due to cost increases.
Despite this, some investors may still be optimistic about potential returns from Fossil Group investments in the future, as many of its products are still popular in some markets. It is essential to do a thorough analysis of the company before investing in order to assess the financial health and the potential risks associated with investing in Fossil Group.
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