By Katherine Hamilton

Fossil's loss widened and sales fell in the third quarter, as the company continues to try to cut costs and turn itself around.

The watch company on Thursday posted a loss of $39.9 million, or 76 cents a share, in the recently ended quarter, compared with a loss of $32 million, or 60 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 63 cents.

Revenue fell 6% to $270.2 million.

This week, Fossil finished refinancing its balance sheet, it said. That is part of its turnaround efforts as the company looks to cut costs. In March, it laid off workers, closed 50 stores and said it was putting an end to its growth plan despite being $20 million short of its original target.

Sales in the third quarter were lower because of slower direct-to-consumer sales, in part due to store closures. Increased tariffs and licensed brand minimum royalties pressured gross profit.

Fossil reaffirmed its expectation that full-year sales will decline by a mid-teen percentage.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

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November 13, 2025 16:19 ET (21:19 GMT)

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