Fossil (FOSL) 10-Q 10 Jun 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 04, 2020	Jun. 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 4, 2020
Document Transition Report	false
Entity File Number	000-19848
Entity Registrant Name	FOSSIL GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2018505
Entity Address, Address Line One	901 S. Central Expressway,
Entity Address, City or Town	Richardson,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75080
City Area Code	972
Local Phone Number	234-2525
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FOSL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000883569
Entity Common Stock, Shares Outstanding		51,286,802
Amendment Flag	false
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Current assets:
Cash and cash equivalents	$ 245,427	$ 200,218
Accounts receivable - net of allowances for doubtful accounts of $15,283 and $13,234, respectively	153,397	289,744
Inventories	439,707	452,278
Prepaid expenses and other current assets	128,607	117,218
Total current assets	967,138	1,059,458
Property, plant and equipment - net of accumulated depreciation of $456,174 and $464,913, respectively	138,689	151,500
Operating lease right-of-use assets	269,090	288,166
Intangible and other assets-net	157,669	105,608
Total long-term assets	565,448	545,274
Total assets	1,532,586	1,604,732
Current liabilities:
Accounts payable	132,730	172,191
Short-term and current portion of long-term debt	21,077	26,228
Accrued expenses:
Current operating lease liabilities	70,839	68,838
Compensation	40,391	51,573
Royalties	37,578	28,427
Customer liabilities	65,310	80,803
Transaction taxes	9,276	25,683
Other	67,673	76,209
Income taxes payable	18,355	29,228
Total current liabilities	463,229	559,180
Long-term income taxes payable	31,756	31,284
Deferred income tax liabilities	2,057	2,097
Long-term debt	298,481	178,796
Long-term operating lease liabilities	281,097	288,689
Other long-term liabilities	39,593	40,845
Total long-term liabilities	652,984	541,711
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock, 50,583 and 50,516 shares issued and outstanding at April 4, 2020 and December 28, 2019, respectively	506	505
Additional paid-in capital	286,297	283,371
Retained earnings	214,212	299,793
Accumulated other comprehensive income (loss)	(85,566)	(80,615)
Total Fossil Group, Inc. stockholders’ equity	415,449	503,054
Noncontrolling interests	924	787
Total stockholders’ equity	416,373	503,841
Total liabilities and stockholders’ equity	$ 1,532,586	$ 1,604,732

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 15,283	$ 13,234
Property, plant and equipment, accumulated depreciation	$ 456,174	$ 464,913
Common stock, shares issued (in shares)	50,583,045	50,516,477
Common stock, shares outstanding (in shares)	50,583,045	50,516,477

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Income Statement [Abstract]
Net sales	$ 390,718	$ 465,268
Cost of sales	250,358	217,341
Gross profit	140,360	247,927
Operating expenses:
Selling, general and administrative expenses	262,862	257,684
Trade name impairments	2,464	0
Restructuring charges	9,375	10,187
Total operating expenses	274,701	267,871
Operating income (loss)	(134,341)	(19,944)
Interest expense	7,464	8,122
Other income (expense) - net	(7,290)	25,912
Income (loss) before income taxes	(149,095)	(2,154)
Provision for income taxes	(63,651)	9,608
Net income (loss)	(85,444)	(11,762)
Less: Net income attributable to noncontrolling interests	137	480
Net income (loss) attributable to Fossil Group, Inc.	(85,581)	(12,242)
Other comprehensive income (loss), net of taxes:
Currency translation adjustment	(11,193)	(2,490)
Cash flow hedges - net change	6,242	(1,009)
Total other comprehensive income (loss)	(4,951)	(3,499)
Total comprehensive income (loss)	(90,395)	(15,261)
Less: Comprehensive income attributable to noncontrolling interests	137	480
Comprehensive income (loss) attributable to Fossil Group, Inc.	$ (90,532)	$ (15,741)
Earnings (loss) per share:
Basic (in dollars per share)	$ (1.69)	$ (0.25)
Diluted (in dollars per share)	$ (1.69)	$ (0.25)
Weighted average common shares outstanding:
Basic (in shares)	50,566	49,618
Diluted (in shares)	50,566	49,618

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Stockholders' equity attributable to Fossil Group, Inc.	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive income (loss)	Noncontrolling interest
Balance balance (in shares) at Dec. 29, 2018			49,518,000
Beginning balance at Dec. 29, 2018	$ 588,631	$ 585,543	$ 495	$ 268,113	$ 0	$ 381,626	$ (64,691)	$ 3,088
Increase (Decrease) in Shareholders' Equity
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units (in shares)			349,000
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units	170	170	$ 4	166
Acquisition of common stock for employee tax withholding	(1,515)	(1,515)			(1,515)
Retirement of common stock (in shares)			(95,000)
Retirement of common stock	0		$ (1)	(1,514)	1,515
Stock-based compensation	6,669	6,669		6,669
Net Income (loss)	(11,762)	(12,242)				(12,242)		480
Other comprehensive income (loss)	(3,499)	(3,499)					(3,499)
Ending balance (in shares) at Mar. 30, 2019			49,772,000
Ending balance at Mar. 30, 2019	$ 549,226	545,658	$ 498	273,434	0	339,916	(68,190)	3,568
Balance balance (in shares) at Dec. 28, 2019	50,516,477		50,516,000
Beginning balance at Dec. 28, 2019	$ 503,841	503,054	$ 505	283,371	0	299,793	(80,615)	787
Increase (Decrease) in Shareholders' Equity
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units (in shares)			91,000
Common stock issued upon exercise of stock options, stock appreciation rights and restricted stock units	0		$ 1	(1)
Acquisition of common stock for employee tax withholding	(176)	(176)			(176)
Retirement of common stock (in shares)			(24,000)
Retirement of common stock	0			(176)	176
Stock-based compensation	3,103	3,103		3,103
Net Income (loss)	(85,444)	(85,581)				(85,581)		137
Other comprehensive income (loss)	$ (4,951)	(4,951)					(4,951)
Ending balance (in shares) at Apr. 04, 2020	50,583,045		50,583,000
Ending balance at Apr. 04, 2020	$ 416,373	$ 415,449	$ 506	$ 286,297	$ 0	$ 214,212	$ (85,566)	$ 924

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Operating Activities:
Net Income (loss)	$ (85,444)	$ (11,762)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation, amortization and accretion	12,187	14,439
Non-cash lease expense	29,061	31,136
Stock-based compensation	3,103	4,386
Decrease in allowance for returns and markdowns	(4,092)	(9,293)
Property, plant and equipment and other long-lived asset impairment losses	16,970	880
Trade name impairment losses	2,464	0
Non-cash restructuring charges	684	4,236
Bad debt expense	4,442	994
Other non-cash items	(532)	1,801
Gain on asset divestitures	0	(23,134)
Changes in operating assets and liabilities:
Accounts receivable	117,967	128,819
Inventories	(3,701)	(7,238)
Prepaid expenses and other current assets	(10,443)	(9,738)
Accounts payable	(37,393)	(49,651)
Accrued expenses	(50,888)	(69,239)
Income taxes	(71,524)	981
Net cash (used in) provided by operating activities	(77,139)	7,617
Investing Activities:
Additions to property, plant and equipment	(2,852)	(6,571)
Increase in intangible and other assets	(387)	(907)
Proceeds from the sale of property, plant and equipment	76	1,164
Proceeds from asset divestitures	0	41,570
Net cash (used in) provided by investing activities	(3,163)	35,256
Financing Activities:
Acquisition of common stock for employee tax withholdings	(176)	(1,515)
Debt borrowings	291,179	1,825
Debt payments	(170,570)	(171,871)
Payment for shares of Fossil Accessories South Africa Pty. Ltd.	0	(947)
Debt issuance costs and other	(8,100)	124
Net cash provided by (used in) financing activities	112,333	(172,384)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	12,477	(2,276)
Net increase (decrease) in cash, cash equivalents, and restricted cash	44,508	(131,787)
Cash, cash equivalents, and restricted cash:
Beginning of period	207,749	410,883
End of period	$ 252,257	$ 279,096

FINANCIAL STATEMENT POLICIES

FINANCIAL STATEMENT POLICIES	3 Months Ended
	Apr. 04, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
FINANCIAL STATEMENT POLICIES	FINANCIAL STATEMENT POLICIES Basis of Presentation. The condensed consolidated financial statements include the accounts of Fossil Group, Inc., a Delaware corporation, and its wholly and majority-owned subsidiaries (the “Company”). The Company’s fiscal year periodically results in a 53 -week year instead of a normal 52 -week year. The current fiscal year ending January 2, 2021 is a 53 -week year, with the additional week being included in the first quarter. Accordingly, the information presented herein includes fourteen weeks of operations for the quarter ended April 4, 2020 (“ First Quarter”) as compared to thirteen weeks included in the quarter ended March 30, 2019 (“Prior Year Quarter”). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s financial position as of April 4, 2020 , and the results of operations for the First Quarter and Prior Year Quarter. All adjustments are of a normal, recurring nature. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for the fiscal year ended December 28, 2019 (the “ 2019 Form 10-K”). Operating results for the First Quarter are not necessarily indicative of the results to be achieved for the full fiscal year. The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which require the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company has not made any changes in its significant accounting policies from those disclosed in the 2019 Form 10-K. Business. The Company is a global design, marketing and distribution company that specializes in consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts and sunglasses. In the watch and jewelry product categories, the Company has a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. The Company's products are distributed globally through various distribution channels, including wholesale in countries where it has a physical presence, direct to the consumer through its retail stores and commercial websites and through third-party distributors in countries where the Company does not maintain a physical presence. The Company's products are offered at varying price points to meet the needs of its customers, whether they are value-conscious or luxury oriented. Based on its extensive range of accessory products, brands, distribution channels and price points, the Company is able to target style-conscious consumers across a wide age spectrum on a global basis. Going Concern Assessment and Management's Plans. In March 2020, a novel strain of coronavirus ("COVID-19") was declared a global pandemic by the World Health Organization. The Company's business operations and financial performance for the First Quarter were materially impacted by COVID-19. This pandemic has negatively affected the global economies, disrupted global supply chains and financial markets, and led to significant travel and transportation restrictions, including mandatory closures of non-essential businesses and orders to “shelter-in-place.” During this period, the Company is focused on protecting the health and safety of its employees, customers and suppliers to minimize potential disruptions and supporting the community to address challenges posed by the global pandemic. By the end of the First Quarter, the majority of the Company's stores and many of its customers' stores were closed. As of the date of this filing, certain regional and local governments have lifted or modified restrictions and orders. The Company's Term Loan Facility (as defined in "Note 15–Debt Activity") contains certain affirmative and negative covenants. The Company has entered into a new amendment to its Term Loan Facility to amend, among other things, certain of these financial covenants as a result of the impact of COVID-19. Refer to “Note 15–Debt Activity" for additional details on the Term Loan Facility. The Company is currently in compliance with its covenants. However, due to the uncertainty related to the duration of COVID-19, the Company could experience material further decreases to revenues and cash flows and may experience difficulty in remaining in compliance with financial covenants under the Term Loan Facility, as amended. The Company has taken certain actions, and plans to take further actions, to address the decrease in revenues and cash flow as a result of COVID-19 in order to maintain liquidity and in order to remain in compliance with financial covenants. The Company has implemented a number of cost saving measures, including store closures and spending reductions. Specifically, effective March 30, 2020, the Company implemented base salary reductions for a substantial number of the Company's global employees, including each of its executive officers. Further, the cash fees for all non-employee directors serving on the Company's Board of Directors were deferred for the First Quarter until the end of 2020 and the cash fees were reduced by twenty percent for the second quarter of fiscal year 2020. The Company has also implemented weekly work hour reductions (e.g., from 40 hours to 32 or 24 hours) and work-reduction furloughs for certain other employees. The Company has entered into agreements, or is in discussions with, most of its retail and corporate office landlords to modify rent payments, receive other concessions or otherwise reduce its operating costs for these locations. The Company has also extended the payment terms with a number of its vendors and suppliers globally and has agreements, or is in discussions with, licensors of certain third party trademarks to reduce its royalty obligations in fiscal 2020. In addition, the Company plans to reduce marketing and capital spending, eliminate all non-business critical spending and continue implementing additional restructuring activities under NWF 2.0 as discussed in "Note 16–Restructuring." The Company believes its cost reduction plans are probable of being successfully implemented, which will result in adequate cash flows to support its ongoing operations and to meet its covenant requirements for one year following the date these financial statements are issued. The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Operating Expenses. Operating expenses include selling, general and administrative expenses (“SG&A”), trade name impairments and restructuring charges. SG&A expenses include selling and distribution expenses primarily consisting of sales and distribution labor costs, sales distribution center and warehouse facility costs, depreciation expense related to sales distribution and warehouse facilities, the four-wall operating costs of the Company’s retail stores, point-of-sale expenses, advertising expenses and art, design and product development labor costs. SG&A also includes general and administrative expenses primarily consisting of administrative support labor and “back office” or support costs such as treasury, legal, information services, accounting, internal audit, human resources, executive management costs and costs associated with stock-based compensation. Restructuring charges include costs to reorganize, refine and optimize the Company’s infrastructure as well as store closure expenses. Earnings (Loss) Per Share (“EPS”). Basic EPS is based on the weighted average number of common shares outstanding during each period. Diluted EPS adjusts basic EPS for the effects of dilutive common stock equivalents outstanding during each period using the treasury stock method. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS (in thousands, except per share data): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Numerator: Net income (loss) attributable to Fossil Group, Inc. $ (85,581 ) $ (12,242 ) Denominator: Basic EPS computation: Basic weighted average common shares outstanding 50,566 49,618 Basic EPS $ (1.69 ) $ (0.25 ) Diluted EPS computation: Basic weighted average common shares outstanding 50,566 49,618 Diluted weighted average common shares outstanding 50,566 49,618 Diluted EPS $ (1.69 ) $ (0.25 ) At the end of the First Quarter, approximately 2.6 million weighted average shares issuable under stock-based awards were not included in the diluted EPS calculation because they were antidilutive. The total antidilutive weighted average shares included approximately 0.3 million weighted average performance-based shares at the end of the First Quarter. At the end of the Prior Year Quarter, approximately 4.4 million weighted average shares issuable under stock-based awards were not included in the diluted EPS calculation because they were antidilutive. The total antidilutive weighted average shares included 1.1 million weighted average performance-based shares at the end of the Prior Year Quarter. Cash, Cash Equivalents and Restricted Cash. The following table provides a reconciliation of the cash, cash equivalents, and restricted cash balances as of April 4, 2020 and March 30, 2019 that are presented in the condensed consolidated statement of cash flows (in thousands): April 4, 2020 March 30, 2019 Cash and cash equivalents $ 245,427 $ 271,442 Restricted cash included in prepaid expenses and other current assets 26 31 Restricted cash included in intangible and other assets-net 6,804 7,623 Cash, cash equivalents and restricted cash $ 252,257 $ 279,096 Recently Issued Accounting Standards In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to general principles in Income Taxes (Topic 740). It also clarifies and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not expect this standard to have a material impact on the Company's consolidated results of operations or financial position. Recently Adopted Accounting Standards In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted ASU 2018-15 at the beginning of the First Quarter, and it did not have a material effect on the condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU 2018-14"). ASU 2018-14 removes certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and adds additional disclosures. The Company adopted ASU 2018-14 at the beginning of the First Quarter, and it did not have a material effect on the condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). ASU 2018-13 (i) eliminates certain disclosure requirements related to the fair value hierarchy, (ii) adds new disclosure requirements related to the changes in unrealized gains and losses for recurring Level 3 fair value measurements and the range and weighted average of significant observable inputs used to develop Level 3 fair value measurements and (iii) modifies certain disclosure requirements related to measurement uncertainty for fair value measurements. The Company adopted ASU 2018-13 at the beginning of the First Quarter, and it did not have a material effect on the condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 modifies the measurement of expected credit losses of certain financial instruments, including trade receivables. The estimate of expected credit losses will require the consideration of historical information, current information and reasonable and supportable forecasts. The Company adopted ASU 2016-13 at the beginning of the First Quarter on a prospective basis, and it did not have a material effect on the condensed consolidated financial statements.

REVENUE

REVENUE	3 Months Ended
	Apr. 04, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue. The Company's revenue disaggregated by major product category and timing of revenue recognition was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 Americas Europe Asia Corporate Total Product type Watches $ 119,274 $ 97,898 $ 92,742 $ 11 $ 309,925 Leathers 27,989 9,431 9,887 — 47,307 Jewelry 4,024 17,507 1,686 — 23,217 Other 1,629 3,414 1,872 3,354 10,269 Consolidated $ 152,916 $ 128,250 $ 106,187 $ 3,365 $ 390,718 Timing of revenue recognition Revenue recognized at a point in time $ 152,285 $ 127,920 $ 105,988 $ 1,492 $ 387,685 Revenue recognized over time 631 330 199 1,873 3,033 Consolidated $ 152,916 $ 128,250 $ 106,187 $ 3,365 $ 390,718 For the 13 Weeks Ended March 30, 2019 Americas Europe Asia Corporate Total Product type Watches $ 148,316 $ 116,253 $ 101,606 $ 3 $ 366,178 Leathers 30,752 11,358 11,795 — 53,905 Jewelry 9,176 20,750 1,234 — 31,160 Other 2,125 4,916 2,265 4,719 14,025 Consolidated $ 190,369 $ 153,277 $ 116,900 $ 4,722 $ 465,268 Timing of revenue recognition Revenue recognized at a point in time $ 189,701 $ 152,916 $ 116,708 $ 1,172 $ 460,497 Revenue recognized over time 668 361 192 3,550 4,771 Consolidated $ 190,369 $ 153,277 $ 116,900 $ 4,722 $ 465,268 Contract Balances. As of April 4, 2020 , the Company had no material contract assets on the Company's condensed consolidated balance sheets and no deferred contract costs. The Company had contract liabilities of (i) $13.3 million and $13.4 million as of April 4, 2020 and December 28, 2019 , respectively, related to remaining performance obligations on licensing income, (ii) $4.7 million and $5.3 million as of April 4, 2020 and December 28, 2019 , respectively, primarily related to remaining performance obligations on wearable technology products and (iii) $3.2 million and $3.3 million as of April 4, 2020 and December 28, 2019 , respectively, related to gift cards issued.

INVENTORIES

INVENTORIES	3 Months Ended
	Apr. 04, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following (in thousands): April 4, 2020 December 28, 2019 Components and parts $ 25,720 $ 35,626 Work-in-process 13,198 11,034 Finished goods 400,789 405,618 Inventories $ 439,707 $ 452,278

WARRANTY LIABILITIES

WARRANTY LIABILITIES	3 Months Ended
	Apr. 04, 2020
Product Warranties Disclosures [Abstract]
WARRANTY LIABILITIES	WARRANTY LIABILITIES The Company’s warranty liability is recorded in accrued expenses-other in the Company’s condensed consolidated balance sheets. Warranty liability activity consisted of the following (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Beginning balance $ 23,095 $ 22,807 Settlements in cash or kind (3,666 ) (4,125 ) Warranties issued and adjustments to preexisting warranties (1) 2,868 3,384 Ending balance $ 22,297 $ 22,066 _______________________________________________ (1) Changes in cost estimates related to preexisting warranties are aggregated with accruals for new standard warranties issued and foreign currency changes.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Apr. 04, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax (benefit) expense and related effective rates were as follows (in thousands, except percentage data): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Income tax (benefit) expense $ (63,651 ) $ 9,608 Effective tax rate 42.7 % (446.1 )% For the First Quarter, the Company computed its effective tax rate using actual year-to-date information rather than a full year forecast to compute the annual effective tax rate. Estimating a reliable or meaningful annual effective tax rate for fiscal year 2020 was not possible due to the range of potential impacts and resulting uncertainties related to the global COVID-19 pandemic. Accordingly, the Company concluded that computing its effective tax rate using actual year-to-date results is the best estimate of tax expense (benefit) for the First Quarter. The tax rate in the First Quarter was favorable as compared to the Prior Year Quarter primarily due to changes enacted in the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"), which was signed into law on March 27, 2020. The CARES Act included many beneficial income tax provisions including utilization of net operating losses ("NOLs"), temporary changes to the limitation on interest deductions, and technical corrections to tax depreciation for qualified improvement property. The Tax Cuts and Jobs Act had eliminated the option for most taxpayers to carryback a NOL after 2017. A NOL could only be carried forward and was limited to 80% of taxable income. The CARES Act now allows U.S. taxpayers to carryback a NOL arising in tax years 2018, 2019 and 2020 to prior years when the statutory tax rate was 35%. For the First Quarter, the Company recognized a $61 million U.S. tax benefit primarily due to the favorable five year NOL carryback provisions under the CARES Act that will allow the 2020 tax loss to be carried back to prior years. The remaining benefit was due to foreign return to provision adjustments and foreign NOL carryforwards. The effective tax rate can vary from quarter to quarter due to changes in the Company's global mix of earnings, impacts of COVID-19, the resolution of income tax audits and changes in tax law. The Prior Year Quarter effective tax rate was negative since income tax expense was accrued on certain foreign entities with positive taxable income and because no benefit was recognized for losses in the U.S. and certain other foreign jurisdictions. Due to Global Intangible Low-Taxed Income ("GILTI") provision of the Tax Cuts and Jobs Act, certain foreign income is included in U.S. taxable income effectively absorbing the U.S. NOLs, eliminating the availability of any future tax benefit or loss carryback. As of April 4, 2020 , the Company's total amount of unrecognized tax benefits, excluding interest and penalties, was $35.0 million , of which $29.3 million would favorably impact the effective tax rate in future periods, if recognized. The Company is subject to examinations in various state and foreign jurisdictions for its 2011-2018 tax years, none of which the Company believes are significant, individually or in the aggregate. Tax audit outcomes and timing of tax audit settlements are subject to significant uncertainty. The Company has classified uncertain tax positions as long-term income taxes payable, unless such amounts are expected to be settled within twelve months of the condensed consolidated balance sheet date. As of April 4, 2020 , the Company had recorded $11.0 million of unrecognized tax benefits, excluding interest and penalties, for positions that are expected to be settled within the next twelve months. Consistent with its past practice, the Company recognizes interest and/or penalties related to income tax overpayments and income tax underpayments in income tax expense and income taxes receivable/payable. At April 4, 2020 , the total amount of accrued income tax-related interest and penalties included in the condensed consolidated balance sheets was $5.2 million and $1.0 million , respectively. For the First Quarter, the Company accrued income tax related interest expense of $0.4 million .

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Apr. 04, 2020
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common and Preferred Stock. The Company has 100,000,000 shares of common stock, par value $0.01 per share, authorized, with 50,583,045 and 50,516,477 shares issued and outstanding at April 4, 2020 and December 28, 2019 , respectively. The Company has 1,000,000 shares of preferred stock, par value $0.01 per share, authorized, with none issued or outstanding at April 4, 2020 or December 28, 2019 . Rights, preferences and other terms of preferred stock will be determined by the Board of Directors at the time of issuance. Common Stock Repurchase Programs. At April 4, 2020 and December 28, 2019 , all treasury stock had been effectively retired. As of April 4, 2020 , the Company had $30.0 million of repurchase authorizations remaining under its repurchase program. The Company did not repurchase any common stock under its authorized stock repurchase plans during the First Quarter or Prior Year Quarter.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Apr. 04, 2020
Share-based Payment Arrangement [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Stock-Based Compensation Plans. The following table summarizes stock options and stock appreciation rights activity during the First Quarter: Stock Options and Stock Appreciation Rights Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in Thousands) (in Years) (in Thousands) Outstanding at December 28, 2019 509 $ 76.13 2.5 $ — Granted — — Exercised — — — Forfeited or expired (65 ) 64.90 Outstanding at April 4, 2020 444 77.78 2.4 — Exercisable at April 4, 2020 444 $ 77.78 2.4 $ — The aggregate intrinsic value shown in the table above is before income taxes and is based on the exercise price for outstanding and exercisable options/rights at April 4, 2020 . Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following tables summarize information with respect to stock options and stock appreciation rights outstanding and exercisable at April 4, 2020 : Stock Options Outstanding Stock Options Exercisable Range of Exercise Prices Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Number of Shares Weighted- (in Thousands) (in Years) (in Thousands) $55.04 - $83.83 59 81.41 1.1 59 81.41 $95.91 - $131.46 83 128.05 1.9 83 128.05 Total 142 $ 108.53 1.6 142 $ 108.53 Stock Appreciation Rights Outstanding Stock Appreciation Rights Exercisable Range of Number of Weighted- Weighted- Number of Weighted- (in Thousands) (in Years) (in Thousands) $29.49 - $47.99 174 $ 42.03 3.5 174 $ 42.03 $55.04 - $83.83 73 78.84 2.2 73 78.84 $95.91 - $131.46 55 109.76 1.5 55 109.76 Total 302 $ 63.27 2.8 302 $ 63.27 Restricted Stock Units and Performance Restricted Stock Units. The following table summarizes restricted stock unit and performance restricted stock unit activity during the First Quarter: Restricted Stock Units and Performance Restricted Stock Units Number of Shares Weighted-Average Grant Date Fair Value Per Share (in Thousands) Nonvested at December 28, 2019 2,329 $ 15.16 Granted — — Vested (91 ) 10.44 Forfeited (166 ) 15.56 Nonvested at April 4, 2020 2,072 $ 15.34 The total fair value of restricted stock units vested during the First Quarter was approximately $0.7 million . Vesting of performance restricted stock units is based on achievement of operating margin growth and achievement of sales growth and operating margin targets in relation to the performance of a certain identified peer group.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Apr. 04, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables illustrate changes in the balances of each component of accumulated other comprehensive income (loss), net of taxes (in thousands): For the 14 Weeks Ended April 4, 2020 Currency Translation Adjustments Cash Flow Hedges Forward Contracts Pension Plan Total Beginning balance $ (80,474 ) $ 2,983 $ (3,124 ) $ (80,615 ) Other comprehensive income (loss) before reclassifications (11,193 ) 8,025 — (3,168 ) Tax (expense) benefit — (1,452 ) — (1,452 ) Amounts reclassed from accumulated other comprehensive income (loss) — 360 — 360 Tax (expense) benefit — (29 ) — (29 ) Total other comprehensive income (loss) (11,193 ) 6,242 — (4,951 ) Ending balance $ (91,667 ) $ 9,225 $ (3,124 ) $ (85,566 ) For the 13 Weeks Ended March 30, 2019 Currency Translation Adjustments Cash Flow Hedges Forward Contracts Pension Plan Total Beginning balance $ (74,868 ) $ 8,582 $ 1,595 $ (64,691 ) Other comprehensive income (loss) before reclassifications (2,490 ) 1,709 — (781 ) Tax (expense) benefit — (263 ) — (263 ) Amounts reclassed from accumulated other comprehensive income (loss) — 2,655 — 2,655 Tax (expense) benefit — (200 ) — (200 ) Total other comprehensive income (loss) (2,490 ) (1,009 ) — (3,499 ) Ending balance $ (77,358 ) $ 7,573 $ 1,595 $ (68,190 ) See “Note 10—Derivatives and Risk Management” for additional disclosures about the Company’s use of derivatives.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Apr. 04, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company reports segment information based on the “management approach”. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments. The Company manages its business primarily on a geographic basis. The Company’s reportable operating segments are comprised of (i) Americas, (ii) Europe and (iii) Asia. Each reportable operating segment includes sales to wholesale and distributor customers, and sales through Company-owned retail stores and e-commerce activities based on the location of the selling entity. The Americas segment primarily includes sales to customers based in Canada, Latin America and the United States. The Europe segment primarily includes sales to customers based in European countries, the Middle East and Africa. The Asia segment primarily includes sales to customers based in Australia, China (including Hong Kong, Macau and Taiwan), India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand. Each reportable operating segment provides similar products and services. The Company evaluates the performance of its reportable segments based on net sales and operating income (loss). Net sales for geographic segments are based on the location of the selling entity. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Corporate includes peripheral revenue generating activities from factories and intellectual property and general corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, payroll costs attributable to executive management, brand management, product development, art, creative/product design, marketing, strategy, compliance and back office supply chain expenses that are not allocated to the various segments because they are managed at the corporate level internally. The Company does not include intercompany transfers between segments for management reporting purposes. Summary information by operating segment was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Net Sales Operating Income (Loss) Net Sales Operating Income (Loss) Americas $ 152,916 $ (61,644 ) $ 190,369 $ 10,918 Europe 128,250 (2,655 ) 153,277 14,280 Asia 106,187 11,239 116,900 21,041 Corporate 3,365 (81,281 ) 4,722 (66,183 ) Consolidated $ 390,718 $ (134,341 ) $ 465,268 $ (19,944 ) The following tables reflect net sales for each class of similar products in the periods presented (in thousands, except percentage data): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Net Sales Percentage of Total Net Sales Percentage of Total Watches $ 309,925 79.3 % $ 366,178 78.7 % Leathers 47,307 12.1 53,905 11.6 Jewelry 23,217 6.0 31,160 6.7 Other 10,269 2.6 14,025 3.0 Total $ 390,718 100.0 % $ 465,268 100.0 %

DERIVATIVES AND RISK MANAGEMENT

DERIVATIVES AND RISK MANAGEMENT	3 Months Ended
	Apr. 04, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND RISK MANAGEMENT	DERIVATIVES AND RISK MANAGEMENT Cash Flow Hedges. The primary risks managed by using derivative instruments are the fluctuations in global currencies that will ultimately be used by non-U.S. dollar functional currency subsidiaries to settle future payments of intercompany inventory transactions denominated in U.S. dollars. Specifically, the Company projects future intercompany purchases by its non-U.S. dollar functional currency subsidiaries generally over a period of up to 24 months . The Company enters into forward contracts , generally for up to 85% of the forecasted purchases, to manage fluctuations in global currencies that will ultimately be used to settle such U.S. dollar denominated inventory purchases. Additionally, the Company enters into forward contracts to manage fluctuations in Japanese yen exchange rates that will be used to settle future third-party inventory component purchases by a U.S. dollar functional currency subsidiary. Forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon settlement date and exchange rate. These forward contracts are designated as single cash flow hedges. Fluctuations in exchange rates will either increase or decrease the Company’s U.S. dollar equivalent cash flows from these inventory transactions, which will affect the Company’s U.S. dollar earnings. Gains or losses on the forward contracts are expected to offset these fluctuations to the extent the cash flows are hedged by the forward contracts . These forward contracts meet the criteria for hedge accounting, which requires that they represent foreign currency-denominated forecasted transactions in which (i) the operating unit that has the foreign currency exposure is a party to the hedging instrument and (ii) the hedged transaction is denominated in a currency other than the hedging unit’s functional currency. At the inception of each forward contract designated as a cash flow hedge, the hedging relationship is expected to be highly effective in achieving offsetting cash flows attributable to the hedged risk. The Company assesses hedge effectiveness under the critical terms matched method at inception and at least quarterly throughout the life of the hedging relationship. If the critical terms (i.e., amounts, currencies and settlement dates) of the forward contract match the terms of the forecasted transaction, the Company concludes that the hedge is effective. Hedge accounting is discontinued if it is determined that the derivative is not highly effective. For a derivative instrument that is designated and qualifies as a cash flow hedge, the gain or loss on the derivative is reported as a component of accumulated other comprehensive income (loss), net of taxes and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. All derivative instruments are recognized as either assets or liabilities at fair value in the condensed consolidated balance sheets. The Company records all forward contract hedge assets and liabilities on a gross basis as they do not meet the balance sheet netting criteria because the Company does not have master netting agreements established with the derivative counterparties that would allow for net settlement. Derivatives designated as cash flow hedges are recorded at fair value at each balance sheet date and the change in fair value is recorded to accumulated other comprehensive income (loss) within the equity section of the Company’s condensed consolidated balance sheets until such derivative’s gains or losses become realized or the cash flow hedge relationship is terminated. Hedge accounting must be discontinued for a cash flow hedge of a forecasted transaction upon determining that it is no longer probable that the forecasted transaction will occur within the period originally specified at hedge inception. The cumulative hedge accounting gain or loss associated with the discontinued hedge would remain in accumulated other comprehensive income (loss), and would be reclassified into earnings when the forecasted transaction affects earnings, unless it is probable that the forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. In that case, the entire amount recorded in accumulated other comprehensive income (loss) would immediately be reclassified into earnings. However, in rare cases, the existence of extenuating circumstances that are related to the nature of the forecasted transaction and are outside the control or influence of the Company may cause the forecasted transaction to be probable of occurring on a date that is beyond the additional two-month period of time, in which case the net derivative instrument gain or loss related to the discontinued cash flow hedge will continue to be reported in accumulated other comprehensive income (loss) until it is reclassified into earnings. The Company has identified some delays in the timing of forecasted inventory transactions and has applied the extenuating case exception since the delays are attributable to the COVID-19 pandemic. The Company determined that the delayed forecasted transactions are still probable of occurring after the additional two-month period, and therefore will retain the amounts associated with the discontinued cash flow hedge in accumulated other comprehensive income (loss) until the forecasted transaction affects earnings. If the cash flow hedge relationship is terminated, the derivative’s gains or losses that are recorded in accumulated other comprehensive income (loss) are immediately recognized in earnings. There were no gains or losses reclassified into earnings as a result of the discontinuance of cash flow hedges in the First Quarter or Prior Year Quarter. As of April 4, 2020 , the Company had the following outstanding forward contracts designated as cash flow hedges that were entered into to hedge future payments of inventory transactions (in millions): Functional Currency Contract Currency Type Amount Type Amount Euro 108.2 U.S. dollar 124.0 Canadian dollar 38.3 U.S. dollar 29.1 British pound 13.2 U.S. dollar 17.3 Japanese yen 1,234.5 U.S. dollar 11.6 Mexican peso 160.9 U.S. dollar 8.2 Australian dollar 6.4 U.S. dollar 4.4 U.S. dollar 19.2 Japanese yen 2,045.0 Non-designated Hedges. The Company also periodically enters into forward contracts to manage exchange rate risks associated with certain intercompany transactions and for which the Company does not elect hedge accounting treatment. As of April 4, 2020 , the Company had non-designated forward contracts of $0.5 million on 6.6 million rand associated with a South African rand-denominated foreign subsidiary. Changes in the fair value of derivatives not designated as hedging instruments are recognized in earnings when they occur. The gains and losses on cash flow hedges that were recognized in other comprehensive income (loss), net of taxes during the First Quarter and Prior Year Quarter are set forth below (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cash flow hedges: Forward contracts $ 6,573 $ 1,446 Total gain (loss) recognized in other comprehensive income (loss), net of taxes $ 6,573 $ 1,446 The following table illustrates the gains and losses on derivative instruments recorded in accumulated other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during the First Quarter and Prior Year Quarter (in thousands): Derivative Instruments Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location Effect of Derivative Instruments For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Forward contracts designated as cash flow hedging instruments Cost of sales Total gain (loss) reclassified from accumulated other comprehensive income (loss) $ 2,647 $ 2,473 Forward contracts designated as cash flow hedging instruments Other income (expense)-net Total gain (loss) reclassified from accumulated other comprehensive income (loss) $ (2,316 ) $ (18 ) Forward contracts not designated as hedging instruments Other income (expense)-net Total gain (loss) recognized in income $ 205 $ (13 ) The following table discloses the fair value amounts for the Company’s derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands): Asset Derivatives Liability Derivatives April 4, 2020 December 28, 2019 April 4, 2020 December 28, 2019 Derivative Instruments Condensed Consolidated Balance Sheets Location Fair Value Condensed Consolidated Balance Sheets Location Fair Value Condensed Consolidated Balance Sheets Location Fair Value Condensed Consolidated Balance Sheets Location Fair Value Forward contracts designated as cash flow hedging instruments Prepaid expenses and other current assets $ 11,641 Prepaid expenses and other current assets $ 3,327 Accrued expenses-other $ 243 Accrued expenses-other $ 1,657 Forward contracts not designated as cash flow hedging instruments Prepaid expenses and other current assets 113 Prepaid expenses and other current assets — Accrued expenses-other — Accrued expenses-other 63 Forward contracts designated as cash flow hedging instruments Intangible and other assets-net 531 Intangible and other assets-net 21 Other long-term liabilities 30 Other long-term liabilities 104 Total $ 12,285 $ 3,348 $ 273 $ 1,824 The following table summarizes the effects of the Company's derivative instruments on earnings (in thousands): Effect of Derivative Instruments For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cost of Sales Other Income (Expense)-net Cost of Sales Other Income (Expense)-net Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded $ 250,358 $ (7,290 ) $ 217,341 $ 25,912 Gain (loss) on cash flow hedging relationships: Forward contracts designated as cash flow hedging instruments: Total gain (loss) reclassified from other comprehensive income (loss) 2,647 (2,316 ) 2,473 (18 ) At the end of the First Quarter, the Company had forward contracts designated as cash flow hedges with maturities extending through June 2021 . As of April 4, 2020 , an estimated net gain of $10.0 million is expected to be reclassified into earnings within the next twelve months at prevailing foreign currency exchange rates.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Apr. 04, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. ASC 820, Fair Value Measurement and Disclosures (“ASC 820”), establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. • Level 3 — Unobservable inputs based on the Company’s assumptions. ASC 820 requires the use of observable market data if such data is available without undue cost and effort. The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of April 4, 2020 (in thousands): Fair Value at April 4, 2020 Level 1 Level 2 Level 3 Total Assets: Forward contracts $ — $ 12,285 $ — $ 12,285 Deferred compensation plan assets: Investment in publicly traded mutual funds 4,460 — — 4,460 Total $ 4,460 $ 12,285 $ — $ 16,745 Liabilities: Contingent consideration $ — $ — $ 1,464 $ 1,464 Forward contracts — 273 — 273 Total $ — $ 273 $ 1,464 $ 1,737 The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 28, 2019 (in thousands): Fair Value at December 28, 2019 Level 1 Level 2 Level 3 Total Assets: Forward contracts $ — $ 3,348 $ — $ 3,348 Deferred compensation plan assets: Investment in publicly traded mutual funds 5,243 — — 5,243 Total $ 5,243 $ 3,348 $ — $ 8,591 Liabilities: Contingent consideration $ — $ — $ 1,141 $ 1,141 Forward contracts — 1,824 — 1,824 Total $ — $ 1,824 $ 1,141 $ 2,965 The fair values of the Company’s deferred compensation plan assets are based on quoted prices. The deferred compensation plan assets are recorded in intangible and other assets-net in the Company’s condensed consolidated balance sheets. The fair values of the Company’s forward contracts are based on published quotations of spot currency rates and forward points, which are converted into implied forward currency rates. See “Note 10—Derivatives and Risk Management” for additional disclosures about the forward contracts . As of April 4, 2020 , debt, excluding unamortized debt issuance costs and capital leases, was recorded at cost and had a carrying value of $338.7 million and had a fair value of approximately $282.9 million . The fair value of debt was based on observable market inputs. The fair value of trade names are measured on a non-recurring basis using Level 3 inputs, including forecasted cash flows, discount rates and implied royalty rates. During the First Quarter, the MICHELE trade name with a carrying amount of $10.9 million was written down to its implied fair value of $8.4 million , resulting in a pre-tax impairment charge of $2.5 million. The trade name impairment charge was recorded in the Corporate cost area. During the First Quarter, operating lease right-of-use assets with a carrying amount of $23.4 million and property, plant and equipment-net with a carrying amount of $3.1 million related to retail store leasehold improvements, fixturing and shop-in-shops were written down to a fair value of $8.0 million and $0.9 million , respectively, resulting in impairment charges of $17.6 million . The fair values of operating lease right-of-use assets and fixed assets related to retail stores were determined using Level 3 inputs, including forecasted cash flows and discount rates. Of the $17.6 million impairment expense, $14.2 million , $2.2 million , and $0.4 million was recorded in SG&A in the Americas, Europe and Asia segments, respectively, and $0.7 million and $0.1 million was recorded in restructuring charges in the Asia and Europe segments, respectively. The fair value of the contingent consideration liability related to Fossil South Africa was determined using Level 3 inputs. The contingent consideration is based on Fossil South Africa's projected earnings and dividends. The present value of the contingent consideration liability was valued at $1.5 million as of April 4, 2020 . The Company recorded $0.1 million of the variable consideration in accrued expenses-other and $1.4 million in other long-term liabilities in the condensed consolidated balance sheets at April 4, 2020

INTANGIBLE AND OTHER ASSETS

INTANGIBLE AND OTHER ASSETS	3 Months Ended
	Apr. 04, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE AND OTHER ASSETS	INTANGIBLE AND OTHER ASSETS The following table summarizes intangible and other assets (in thousands): April 4, 2020 December 28, 2019 Useful Gross Accumulated Gross Accumulated Lives Amount Amortization Amount Amortization Intangibles-subject to amortization: Trademarks 10 yrs. $ 3,672 $ 3,044 $ 3,612 $ 2,993 Customer lists 5-10 yrs. 51,137 44,376 52,517 44,013 Patents 3-20 yrs. 2,347 1,946 2,308 1,937 Developed technology 7 yrs. 2,193 685 2,193 548 Trade name 6 yrs. 4,502 375 4,502 188 Other 7-20 yrs. 404 276 383 272 Total intangibles-subject to amortization 64,255 50,702 65,515 49,951 Intangibles-not subject to amortization: Trade names 8,852 11,315 Other assets: Deposits 18,842 18,558 Deferred compensation plan assets 4,460 5,243 Deferred tax asset-net 35,271 38,275 Restricted cash 6,804 7,501 Tax receivable 66,717 6,507 Investments 327 500 Other 2,843 2,145 Total other assets 135,264 78,729 Total intangible and other assets $ 208,371 $ 50,702 $ 155,559 $ 49,951 Total intangible and other assets-net $ 157,669 $ 105,608 Amortization expense for intangible assets was $1.9 million and $1.7 million for the First Quarter and Prior Year Quarter, respectively. Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands): Fiscal Year Amortization Expense 2020 (remaining) $ 5,158 2021 $ 3,212 2022 $ 2,441 2023 $ 871 2024 $ 860 Thereafter $ 1,011

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Apr. 04, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation.

LEASES

LEASES	3 Months Ended
	Apr. 04, 2020
Leases [Abstract]
LEASES	LEASES The Company's leases consist primarily of retail space, offices, warehouses, distribution centers, equipment and vehicles. The Company determines if an agreement contains a lease at inception based on the Company's right to the economic benefits of the leased assets and its right to direct the use of the leased asset. Right-of-use ("ROU") assets represent the Company's right to use an underlying asset, and ROU liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. As the Company's leases do not provide an implicit rate, the Company uses its estimated incremental borrowing rate based on the information available at the commencement date adjusted for the lease term and lease country to determine the present value of the lease payments. Some leases include one or more options to renew at the Company's discretion, with renewal terms that can extend the lease from one to ten additional years. The renewal options are not included in the measurement of ROU assets and ROU liabilities unless the Company is reasonably certain to exercise the optional renewal periods. Short-term leases are leases having a term of twelve months or less at inception. The Company does not record a related lease asset or liability for short-term leases. The Company has certain leases containing lease and non-lease components which are accounted for as a single lease component. The Company has certain leases agreements where lease payments are based on a percentage of retail sales over contractual levels and others include rental payments adjusted periodically for inflation. The variable portion of these lease payments is not included in the Company's lease liabilities. The Company's lease agreements do not contain any significant restrictions or covenants other than those that are customary in such arrangements. The components of lease expense were as follows (in thousands): Lease Cost Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Operating lease cost (1) SG&A $ 28,206 $ 30,858 Finance lease cost: Amortization of ROU assets SG&A $ 101 $ 448 Interest on lease liabilities Interest expense $ 11 $ 9 Short-term lease cost SG&A $ 201 $ 1,700 Variable lease cost SG&A $ 7,694 $ 6,116 _______________________________________________ (1) Includes sublease income, which was immaterial. The following table discloses supplemental balance sheet information for the Company’s leases (in thousands): Leases Condensed Consolidated Balance Sheets Location April 4, 2020 December 28, 2019 Assets Operating Operating lease ROU assets $ 269,090 $ 288,166 Finance Property, plant and equipment - net of accumulated depreciation of $4,010 and $4,015, respectively $ 5,665 $ 5,918 Liabilities Current: Operating Current operating lease liabilities $ 70,839 $ 68,838 Finance Short-term and current portion of long-term debt $ 910 $ 1,011 Noncurrent: Operating Long-term operating lease liabilities $ 281,097 $ 288,689 Finance Long-term debt $ 1,214 $ 1,468 The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases: Lease Term and Discount Rate April 4, 2020 December 28, 2019 Weighted-average remaining lease term: Operating leases 6.1 years 6.1 years Finance leases 2.0 years 2.3 years Weighted-average discount rate: Operating leases 14.0 % 13.9 % Finance leases 1.2 % 1.2 % Future minimum lease payments by year as of April 4, 2020 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 (remaining) $ 88,158 $ 721 2021 97,604 949 2022 84,329 474 2023 67,061 — 2024 48,842 — 2025 35,351 — Thereafter 127,316 — Total lease payments $ 548,661 $ 2,144 Less: Interest 196,725 20 Total lease obligations $ 351,936 $ 2,124 Future minimum lease payments by year as of December 28, 2019 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 $ 116,778 $ 1,042 2021 94,795 978 2022 81,536 488 2023 64,582 — 2024 45,846 — Thereafter 153,255 — Total lease payments $ 556,792 $ 2,508 Less: Interest 199,265 30 Finance lease obligations $ 357,527 $ 2,478 Supplemental cash flow information related to leases was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 30,324 $ 20,092 Operating cash flows from finance leases 11 9 Financing cash flows from finance leases 309 236 Leased assets obtained in exchange for new operating lease liabilities 18,284 5,148 As of April 4, 2020
LEASES	LEASES The Company's leases consist primarily of retail space, offices, warehouses, distribution centers, equipment and vehicles. The Company determines if an agreement contains a lease at inception based on the Company's right to the economic benefits of the leased assets and its right to direct the use of the leased asset. Right-of-use ("ROU") assets represent the Company's right to use an underlying asset, and ROU liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. As the Company's leases do not provide an implicit rate, the Company uses its estimated incremental borrowing rate based on the information available at the commencement date adjusted for the lease term and lease country to determine the present value of the lease payments. Some leases include one or more options to renew at the Company's discretion, with renewal terms that can extend the lease from one to ten additional years. The renewal options are not included in the measurement of ROU assets and ROU liabilities unless the Company is reasonably certain to exercise the optional renewal periods. Short-term leases are leases having a term of twelve months or less at inception. The Company does not record a related lease asset or liability for short-term leases. The Company has certain leases containing lease and non-lease components which are accounted for as a single lease component. The Company has certain leases agreements where lease payments are based on a percentage of retail sales over contractual levels and others include rental payments adjusted periodically for inflation. The variable portion of these lease payments is not included in the Company's lease liabilities. The Company's lease agreements do not contain any significant restrictions or covenants other than those that are customary in such arrangements. The components of lease expense were as follows (in thousands): Lease Cost Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Operating lease cost (1) SG&A $ 28,206 $ 30,858 Finance lease cost: Amortization of ROU assets SG&A $ 101 $ 448 Interest on lease liabilities Interest expense $ 11 $ 9 Short-term lease cost SG&A $ 201 $ 1,700 Variable lease cost SG&A $ 7,694 $ 6,116 _______________________________________________ (1) Includes sublease income, which was immaterial. The following table discloses supplemental balance sheet information for the Company’s leases (in thousands): Leases Condensed Consolidated Balance Sheets Location April 4, 2020 December 28, 2019 Assets Operating Operating lease ROU assets $ 269,090 $ 288,166 Finance Property, plant and equipment - net of accumulated depreciation of $4,010 and $4,015, respectively $ 5,665 $ 5,918 Liabilities Current: Operating Current operating lease liabilities $ 70,839 $ 68,838 Finance Short-term and current portion of long-term debt $ 910 $ 1,011 Noncurrent: Operating Long-term operating lease liabilities $ 281,097 $ 288,689 Finance Long-term debt $ 1,214 $ 1,468 The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases: Lease Term and Discount Rate April 4, 2020 December 28, 2019 Weighted-average remaining lease term: Operating leases 6.1 years 6.1 years Finance leases 2.0 years 2.3 years Weighted-average discount rate: Operating leases 14.0 % 13.9 % Finance leases 1.2 % 1.2 % Future minimum lease payments by year as of April 4, 2020 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 (remaining) $ 88,158 $ 721 2021 97,604 949 2022 84,329 474 2023 67,061 — 2024 48,842 — 2025 35,351 — Thereafter 127,316 — Total lease payments $ 548,661 $ 2,144 Less: Interest 196,725 20 Total lease obligations $ 351,936 $ 2,124 Future minimum lease payments by year as of December 28, 2019 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 $ 116,778 $ 1,042 2021 94,795 978 2022 81,536 488 2023 64,582 — 2024 45,846 — Thereafter 153,255 — Total lease payments $ 556,792 $ 2,508 Less: Interest 199,265 30 Finance lease obligations $ 357,527 $ 2,478 Supplemental cash flow information related to leases was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 30,324 $ 20,092 Operating cash flows from finance leases 11 9 Financing cash flows from finance leases 309 236 Leased assets obtained in exchange for new operating lease liabilities 18,284 5,148 As of April 4, 2020

DEBT ACTIVITY

DEBT ACTIVITY	3 Months Ended
	Apr. 04, 2020
Debt Disclosure [Abstract]
DEBT ACTIVITY	DEBT ACTIVITY On February 20, 2020, the Company entered into an Amendment No. 1 (the “First Amendment”) to that certain Term Credit Agreement, dated as of September 26, 2019, by and among the Company, as borrower, JPMorgan Chase Bank, N.A. as administrative agent and the lenders (the “Term Credit Agreement Lenders”) party thereto (the “Term Credit Agreement”). Pursuant to the terms of the First Amendment, the Company, the administrative agent and the lenders party thereto agreed to modify certain terms of the Term Credit Agreement to, among other things, (i) increase the interest rate applicable to the term loans under the Term Credit Agreement (a) in the case of Eurodollar loans, from the adjusted LIBO rate plus 6.50% to the adjusted LIBO rate plus 8.00% , and (b) in the case of alternate base rate loans, from the alternate base rate plus 5.50% to the alternate base rate plus 7.00% ; (ii) increase the maximum total leverage ratio permitted from 1.50 to 1.00 as of the last day of each fiscal quarter to (a) 2.75 to 1.00 as of the last day of each fiscal quarter ending April 4, 2020, July 4, 2020, October 3, 2020 and January 2, 2021, (b) 2.25 to 1.00 as of the last day of each fiscal quarter ending April 3, 2021, July 3, 2021 and October 2, 2021, and (c) 1.50 to 1.00 as of the last day of each subsequent fiscal quarter; (iii) limit the amount of borrowings in aggregate principal amount at any time outstanding under that certain asset-based revolving credit agreement, dated as of September 26, 2019, by and among the Company and Fossil Partners L.P., as the U.S. borrowers, and Fossil Group Europe GmbH, Fossil Asia Pacific Limited, Fossil (Europe) GmbH, Fossil (UK) Limited and Fossil Canada Inc., as the non-U.S. borrowers, certain other subsidiaries of the Company from time to time party thereto designated as borrowers, certain subsidiaries of the Company from time to time party thereto as guarantors, JPMorgan Chase Bank, N.A. as administrative agent and J.P. Morgan AG, as French collateral agent (The "Revolving Facility"), to the lesser of the borrowing base thereunder and $200 million; (iv) extend the applicable periods for certain prepayment fees, so that if the Company voluntarily prepays the term loans prior to February 20, 2022, or if the Company incurs certain indebtedness which results in a mandatory prepayment under the Term Credit Agreement prior to February 20, 2022, the Company is required to pay a prepayment fee of 2.00% with respect to the principal amount prepaid prior to February 20, 2021 and 1.00% with respect to the principal amount prepaid between February 21, 2021 and February 20, 2022; and (v) require the Company to pay the foregoing prepayment fee upon acceleration of the loans under the Term Credit Agreement. The First Amendment also modified the negative covenants and events of default in the Term Credit Agreement to reduce the Company’s flexibility with respect to certain matters. The Company incurred debt issue costs of $8.1 million in connection with the First amendment. On May 12, 2020, the Company entered into Amendment No. 2 to the Term Credit Agreement to extend the deadline for delivery of the Company’s unaudited quarterly financial statements and related deliverables for the fiscal quarter ended April 4, 2020 to the earlier of (i) July 6, 2020 and (ii) the date on which the Company is required to file (or does file) with the SEC its quarterly report on Form 10-Q for the fiscal quarter ended April 4, 2020. On June 5, 2020, the Company entered into Amendment No. 3 (the “Third Amendment”) to the Term Credit Agreement to modify certain terms of the Term Credit Agreement to, among other things, (i) increase the interest rate applicable to the term loans under the Term Credit Agreement (a) in the case of Eurodollar loans, from the adjusted LIBO rate plus 8.00% to the adjusted LIBO rate plus 8.50% , and (b) in the case of alternate base rate loans, from the alternate base rate plus 7.00% to the alternate base rate plus 7.50% ; (ii) (a) require a $15.0 million principal prepayment at the time of the Third Amendment, (b) increase the quarterly amortization payment to be paid on September 30, 2020 to $8.0 million from $5.0 million , and (c) increase each quarterly amortization payment thereafter to $10.0 million ; (iii) change provisions related to prepayment fees such that (a) prepayment fees will be waived for a period of 90 days following the date of the Third Amendment for prepayments in connection with certain refinancings of the term loans and (b) prepayment fees will be 2% for a period of twelve months after such 90 -day period, and 1% for next twelve-month period; (iv) reduce the minimum liquidity levels required to be maintained by the Company at the end of each fiscal month, through and including November 2020, from $150.0 million to $125.0 million ; (v) waive the quarterly test for maximum total leverage ratio for fiscal year 2020 and the first three fiscal quarters of fiscal year 2021, and during such period require the Company to maintain specified minimum levels of EBITDA; and (vi) increase the amount of equity interests in certain “first tier” foreign subsidiaries that must be pledged as collateral securing the obligations under the Term Credit Agreement from 65% to 100% of such equity interests. While the Third Amendment amends, among other things, certain of the financial covenants in the Term Credit Agreement to address the financial impact of COVID-19, any material further decreases to the Company’s revenues and cash flows, or the Company's inability to successfully achieve its cost reduction targets, could result in the Company not meeting one or more of the amended financial covenants under its Term Credit Agreement within the next twelve months. See “Note 1-Significant Accounting Policies" for additional information. As of April 4, 2020 , the Company had $190.0 million and $158.9 million outstanding under the Term Credit Agreement and Revolving Facility, respectively. The Company had net payments of $10.0 million under the Term Credit Agreement during the First Quarter. The Company had net borrowings of $130.9 million under the Revolving Credit Facility during the First Quarter. Amounts available under the Revolving Credit Facility were reduced by any amounts outstanding under standby letters of credit. As of April 4, 2020 , the Company had available borrowing capacity of $33.0 million under the Revolving Credit Facility. The Company incurred approximately $4.7 million of interest expense related to the Term Credit Agreement during the First Quarter. The Company incurred approximately $0.4 million of interest expense related to the Revolving Credit Facility during the First Quarter. The Company incurred approximately $2.1 million of interest expense related to the amortization of debt issuance costs and the original issue discount during the First

RESTRUCTURING

RESTRUCTURING	3 Months Ended
	Apr. 04, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company implemented a multi-year restructuring program that began in fiscal year 2016 called New World Fossil ("NWF 1.0") and concluded in fiscal year 2019. The remaining liability under NWF 1.0 is $3.7 million . In fiscal 2019, the Company launched New World Fossil 2.0 - Transform to Grow Program (“NWF 2.0”), which is focused on optimizing the Company’s operating structure to be more efficient, with faster decision-making and a more customer-centric focus. In addition to optimizing the way the Company goes to market, the Company is also pursuing additional gross margin expansion opportunities. The Company is taking a zero-based budgeting approach to adjust its business model to enable more investment in digital capabilities and marketing, move closer to the consumer and react more quickly to the ever-evolving consumer shopping patterns. The Company also plans to change to overall business processes and resources, creating a more centrally directed operating model, reducing complexity and redundancy, and operating at a lower cost base. The following table shows a rollforward of the accrued liability related to the Company’s NWF 2.0 restructuring plan (in thousands): For the 14 Weeks Ended April 4, 2020 Liabilities Liabilities December 28, 2019 Charges Cash Payments Non-cash Items April 4, 2020 Store closures $ 22 $ 732 $ 42 $ 684 $ 28 Professional services 2,824 3,189 3,963 — 2,050 Severance and employee-related benefits 4,238 5,454 5,782 — 3,910 Total $ 7,084 $ 9,375 $ 9,787 $ 684 $ 5,988 NWF 2.0 restructuring charges by operating segment were as follows (in thousands): For the 14 Weeks Ended April 4, 2020 Americas $ 1,136 Europe 766 Asia 1,623 Corporate 5,850 Consolidated $ 9,375 Additionally, the NWF 2.0 restructuring program will be expanded to address additional challenges posed by COVID-19. The program will include additional organizational efficiencies, cost savings measures, and accelerating digital initiatives. The Company estimates total NWF 2.0 charges of $50 million to $70 million, with approximately $25 million of those charges in fiscal year 2020.

FINANCIAL STATEMENT POLICIES (P

FINANCIAL STATEMENT POLICIES (Policies)	3 Months Ended
	Apr. 04, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. The condensed consolidated financial statements include the accounts of Fossil Group, Inc., a Delaware corporation, and its wholly and majority-owned subsidiaries (the “Company”). The Company’s fiscal year periodically results in a 53 -week year instead of a normal 52 -week year. The current fiscal year ending January 2, 2021 is a 53 -week year, with the additional week being included in the first quarter. Accordingly, the information presented herein includes fourteen weeks of operations for the quarter ended April 4, 2020 (“ First Quarter”) as compared to thirteen weeks included in the quarter ended March 30, 2019 (“Prior Year Quarter”). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s financial position as of April 4, 2020 , and the results of operations for the First Quarter and Prior Year Quarter. All adjustments are of a normal, recurring nature. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for the fiscal year ended December 28, 2019 (the “ 2019 Form 10-K”). Operating results for the First Quarter are not necessarily indicative of the results to be achieved for the full fiscal year. The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which require the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company has not made any changes in its significant accounting policies from those disclosed in the 2019 Form 10-K.
Business	Business. The Company is a global design, marketing and distribution company that specializes in consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts and sunglasses. In the watch and jewelry product categories, the Company has a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. The Company's products are distributed globally through various distribution channels, including wholesale in countries where it has a physical presence, direct to the consumer through its retail stores and commercial websites and through third-party distributors in countries where the Company does not maintain a physical presence. The Company's products are offered at varying price points to meet the needs of its customers, whether they are value-conscious or luxury oriented. Based on its extensive range of accessory products, brands, distribution channels and price points, the Company is able to target style-conscious consumers across a wide age spectrum on a global basis.
Going Concern Assessment and Management's Plans	Going Concern Assessment and Management's Plans. In March 2020, a novel strain of coronavirus ("COVID-19") was declared a global pandemic by the World Health Organization. The Company's business operations and financial performance for the First Quarter were materially impacted by COVID-19. This pandemic has negatively affected the global economies, disrupted global supply chains and financial markets, and led to significant travel and transportation restrictions, including mandatory closures of non-essential businesses and orders to “shelter-in-place.” During this period, the Company is focused on protecting the health and safety of its employees, customers and suppliers to minimize potential disruptions and supporting the community to address challenges posed by the global pandemic. By the end of the First Quarter, the majority of the Company's stores and many of its customers' stores were closed. As of the date of this filing, certain regional and local governments have lifted or modified restrictions and orders. The Company's Term Loan Facility (as defined in "Note 15–Debt Activity") contains certain affirmative and negative covenants. The Company has entered into a new amendment to its Term Loan Facility to amend, among other things, certain of these financial covenants as a result of the impact of COVID-19. Refer to “Note 15–Debt Activity" for additional details on the Term Loan Facility. The Company is currently in compliance with its covenants. However, due to the uncertainty related to the duration of COVID-19, the Company could experience material further decreases to revenues and cash flows and may experience difficulty in remaining in compliance with financial covenants under the Term Loan Facility, as amended. The Company has taken certain actions, and plans to take further actions, to address the decrease in revenues and cash flow as a result of COVID-19 in order to maintain liquidity and in order to remain in compliance with financial covenants. The Company has implemented a number of cost saving measures, including store closures and spending reductions. Specifically, effective March 30, 2020, the Company implemented base salary reductions for a substantial number of the Company's global employees, including each of its executive officers. Further, the cash fees for all non-employee directors serving on the Company's Board of Directors were deferred for the First Quarter until the end of 2020 and the cash fees were reduced by twenty percent for the second quarter of fiscal year 2020. The Company has also implemented weekly work hour reductions (e.g., from 40 hours to 32 or 24 hours) and work-reduction furloughs for certain other employees. The Company has entered into agreements, or is in discussions with, most of its retail and corporate office landlords to modify rent payments, receive other concessions or otherwise reduce its operating costs for these locations. The Company has also extended the payment terms with a number of its vendors and suppliers globally and has agreements, or is in discussions with, licensors of certain third party trademarks to reduce its royalty obligations in fiscal 2020. In addition, the Company plans to reduce marketing and capital spending, eliminate all non-business critical spending and continue implementing additional restructuring activities under NWF 2.0 as discussed in "Note 16–Restructuring." The Company believes its cost reduction plans are probable of being successfully implemented, which will result in adequate cash flows to support its ongoing operations and to meet its covenant requirements for one year following the date these financial statements are issued. The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
Operating Expenses	Operating Expenses. Operating expenses include selling, general and administrative expenses (“SG&A”), trade name impairments and restructuring charges. SG&A expenses include selling and distribution expenses primarily consisting of sales and distribution labor costs, sales distribution center and warehouse facility costs, depreciation expense related to sales distribution and warehouse facilities, the four-wall operating costs of the Company’s retail stores, point-of-sale expenses, advertising expenses and art, design and product development labor costs. SG&A also includes general and administrative expenses primarily consisting of administrative support labor and “back office” or support costs such as treasury, legal, information services, accounting, internal audit, human resources, executive management costs and costs associated with stock-based compensation. Restructuring charges include costs to reorganize, refine and optimize the Company’s infrastructure as well as store closure expenses.
Earnings (Loss) Per Share (EPS)	Earnings (Loss) Per Share (“EPS”). Basic EPS is based on the weighted average number of common shares outstanding during each period. Diluted EPS adjusts basic EPS for the effects of dilutive common stock equivalents outstanding during each period using the treasury stock method.
Recently Issued and Adopted Accounting Standards	Recently Issued Accounting Standards In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to general principles in Income Taxes (Topic 740). It also clarifies and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not expect this standard to have a material impact on the Company's consolidated results of operations or financial position. Recently Adopted Accounting Standards In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted ASU 2018-15 at the beginning of the First Quarter, and it did not have a material effect on the condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU 2018-14"). ASU 2018-14 removes certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and adds additional disclosures. The Company adopted ASU 2018-14 at the beginning of the First Quarter, and it did not have a material effect on the condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). ASU 2018-13 (i) eliminates certain disclosure requirements related to the fair value hierarchy, (ii) adds new disclosure requirements related to the changes in unrealized gains and losses for recurring Level 3 fair value measurements and the range and weighted average of significant observable inputs used to develop Level 3 fair value measurements and (iii) modifies certain disclosure requirements related to measurement uncertainty for fair value measurements. The Company adopted ASU 2018-13 at the beginning of the First Quarter, and it did not have a material effect on the condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 modifies the measurement of expected credit losses of certain financial instruments, including trade receivables. The estimate of expected credit losses will require the consideration of historical information, current information and reasonable and supportable forecasts. The Company adopted ASU 2016-13 at the beginning of the First Quarter on a prospective basis, and it did not have a material effect on the condensed consolidated financial statements.
Fair Value Measurements	The fair values of the Company’s deferred compensation plan assets are based on quoted prices. The deferred compensation plan assets are recorded in intangible and other assets-net in the Company’s condensed consolidated balance sheets. The fair values of the Company’s forward contracts The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. ASC 820, Fair Value Measurement and Disclosures (“ASC 820”), establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. • Level 3 — Unobservable inputs based on the Company’s assumptions. ASC 820 requires the use of observable market data if such data is available without undue cost and effort.

FINANCIAL STATEMENT POLICIES (T

FINANCIAL STATEMENT POLICIES (Tables)	3 Months Ended
	Apr. 04, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Numerators and denominators used in the computations of both basic and diluted EPS	The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS (in thousands, except per share data): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Numerator: Net income (loss) attributable to Fossil Group, Inc. $ (85,581 ) $ (12,242 ) Denominator: Basic EPS computation: Basic weighted average common shares outstanding 50,566 49,618 Basic EPS $ (1.69 ) $ (0.25 ) Diluted EPS computation: Basic weighted average common shares outstanding 50,566 49,618 Diluted weighted average common shares outstanding 50,566 49,618 Diluted EPS $ (1.69 ) $ (0.25 )
Schedule of cash, cash equivalents and restricted cash	The following table provides a reconciliation of the cash, cash equivalents, and restricted cash balances as of April 4, 2020 and March 30, 2019 that are presented in the condensed consolidated statement of cash flows (in thousands): April 4, 2020 March 30, 2019 Cash and cash equivalents $ 245,427 $ 271,442 Restricted cash included in prepaid expenses and other current assets 26 31 Restricted cash included in intangible and other assets-net 6,804 7,623 Cash, cash equivalents and restricted cash $ 252,257 $ 279,096
Schedule of cash, cash equivalents and restricted cash	The following table provides a reconciliation of the cash, cash equivalents, and restricted cash balances as of April 4, 2020 and March 30, 2019 that are presented in the condensed consolidated statement of cash flows (in thousands): April 4, 2020 March 30, 2019 Cash and cash equivalents $ 245,427 $ 271,442 Restricted cash included in prepaid expenses and other current assets 26 31 Restricted cash included in intangible and other assets-net 6,804 7,623 Cash, cash equivalents and restricted cash $ 252,257 $ 279,096

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Apr. 04, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The Company's revenue disaggregated by major product category and timing of revenue recognition was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 Americas Europe Asia Corporate Total Product type Watches $ 119,274 $ 97,898 $ 92,742 $ 11 $ 309,925 Leathers 27,989 9,431 9,887 — 47,307 Jewelry 4,024 17,507 1,686 — 23,217 Other 1,629 3,414 1,872 3,354 10,269 Consolidated $ 152,916 $ 128,250 $ 106,187 $ 3,365 $ 390,718 Timing of revenue recognition Revenue recognized at a point in time $ 152,285 $ 127,920 $ 105,988 $ 1,492 $ 387,685 Revenue recognized over time 631 330 199 1,873 3,033 Consolidated $ 152,916 $ 128,250 $ 106,187 $ 3,365 $ 390,718 For the 13 Weeks Ended March 30, 2019 Americas Europe Asia Corporate Total Product type Watches $ 148,316 $ 116,253 $ 101,606 $ 3 $ 366,178 Leathers 30,752 11,358 11,795 — 53,905 Jewelry 9,176 20,750 1,234 — 31,160 Other 2,125 4,916 2,265 4,719 14,025 Consolidated $ 190,369 $ 153,277 $ 116,900 $ 4,722 $ 465,268 Timing of revenue recognition Revenue recognized at a point in time $ 189,701 $ 152,916 $ 116,708 $ 1,172 $ 460,497 Revenue recognized over time 668 361 192 3,550 4,771 Consolidated $ 190,369 $ 153,277 $ 116,900 $ 4,722 $ 465,268

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Apr. 04, 2020
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consisted of the following (in thousands): April 4, 2020 December 28, 2019 Components and parts $ 25,720 $ 35,626 Work-in-process 13,198 11,034 Finished goods 400,789 405,618 Inventories $ 439,707 $ 452,278

WARRANTY LIABILITIES (Tables)

WARRANTY LIABILITIES (Tables)	3 Months Ended
	Apr. 04, 2020
Product Warranties Disclosures [Abstract]
Schedule of warranty liability activity	Warranty liability activity consisted of the following (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Beginning balance $ 23,095 $ 22,807 Settlements in cash or kind (3,666 ) (4,125 ) Warranties issued and adjustments to preexisting warranties (1) 2,868 3,384 Ending balance $ 22,297 $ 22,066 _______________________________________________ (1) Changes in cost estimates related to preexisting warranties are aggregated with accruals for new standard warranties issued and foreign currency changes.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Apr. 04, 2020
Income Tax Disclosure [Abstract]
Schedule of income tax expense and related effective rate	The Company’s income tax (benefit) expense and related effective rates were as follows (in thousands, except percentage data): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Income tax (benefit) expense $ (63,651 ) $ 9,608 Effective tax rate 42.7 % (446.1 )%

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Apr. 04, 2020
Share-based Payment Arrangement [Abstract]
Summary of stock options and stock appreciation rights activity	The following table summarizes stock options and stock appreciation rights activity during the First Quarter: Stock Options and Stock Appreciation Rights Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in Thousands) (in Years) (in Thousands) Outstanding at December 28, 2019 509 $ 76.13 2.5 $ — Granted — — Exercised — — — Forfeited or expired (65 ) 64.90 Outstanding at April 4, 2020 444 77.78 2.4 — Exercisable at April 4, 2020 444 $ 77.78 2.4 $ —
Summary of stock options and stock appreciation rights outstanding and exercisable	The following tables summarize information with respect to stock options and stock appreciation rights outstanding and exercisable at April 4, 2020 : Stock Options Outstanding Stock Options Exercisable Range of Exercise Prices Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Number of Shares Weighted- (in Thousands) (in Years) (in Thousands) $55.04 - $83.83 59 81.41 1.1 59 81.41 $95.91 - $131.46 83 128.05 1.9 83 128.05 Total 142 $ 108.53 1.6 142 $ 108.53 Stock Appreciation Rights Outstanding Stock Appreciation Rights Exercisable Range of Number of Weighted- Weighted- Number of Weighted- (in Thousands) (in Years) (in Thousands) $29.49 - $47.99 174 $ 42.03 3.5 174 $ 42.03 $55.04 - $83.83 73 78.84 2.2 73 78.84 $95.91 - $131.46 55 109.76 1.5 55 109.76 Total 302 $ 63.27 2.8 302 $ 63.27
Summary of restricted stock, restricted stock units and performance restricted stock units activity	The following table summarizes restricted stock unit and performance restricted stock unit activity during the First Quarter: Restricted Stock Units and Performance Restricted Stock Units Number of Shares Weighted-Average Grant Date Fair Value Per Share (in Thousands) Nonvested at December 28, 2019 2,329 $ 15.16 Granted — — Vested (91 ) 10.44 Forfeited (166 ) 15.56 Nonvested at April 4, 2020 2,072 $ 15.34

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Apr. 04, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in the balances of each component of accumulated other comprehensive income (loss), net of taxes	The following tables illustrate changes in the balances of each component of accumulated other comprehensive income (loss), net of taxes (in thousands): For the 14 Weeks Ended April 4, 2020 Currency Translation Adjustments Cash Flow Hedges Forward Contracts Pension Plan Total Beginning balance $ (80,474 ) $ 2,983 $ (3,124 ) $ (80,615 ) Other comprehensive income (loss) before reclassifications (11,193 ) 8,025 — (3,168 ) Tax (expense) benefit — (1,452 ) — (1,452 ) Amounts reclassed from accumulated other comprehensive income (loss) — 360 — 360 Tax (expense) benefit — (29 ) — (29 ) Total other comprehensive income (loss) (11,193 ) 6,242 — (4,951 ) Ending balance $ (91,667 ) $ 9,225 $ (3,124 ) $ (85,566 ) For the 13 Weeks Ended March 30, 2019 Currency Translation Adjustments Cash Flow Hedges Forward Contracts Pension Plan Total Beginning balance $ (74,868 ) $ 8,582 $ 1,595 $ (64,691 ) Other comprehensive income (loss) before reclassifications (2,490 ) 1,709 — (781 ) Tax (expense) benefit — (263 ) — (263 ) Amounts reclassed from accumulated other comprehensive income (loss) — 2,655 — 2,655 Tax (expense) benefit — (200 ) — (200 ) Total other comprehensive income (loss) (2,490 ) (1,009 ) — (3,499 ) Ending balance $ (77,358 ) $ 7,573 $ 1,595 $ (68,190 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Apr. 04, 2020
Segment Reporting [Abstract]
Summary information by operating segment	Summary information by operating segment was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Net Sales Operating Income (Loss) Net Sales Operating Income (Loss) Americas $ 152,916 $ (61,644 ) $ 190,369 $ 10,918 Europe 128,250 (2,655 ) 153,277 14,280 Asia 106,187 11,239 116,900 21,041 Corporate 3,365 (81,281 ) 4,722 (66,183 ) Consolidated $ 390,718 $ (134,341 ) $ 465,268 $ (19,944 )
Schedule of net sales for each class of similar products	The following tables reflect net sales for each class of similar products in the periods presented (in thousands, except percentage data): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Net Sales Percentage of Total Net Sales Percentage of Total Watches $ 309,925 79.3 % $ 366,178 78.7 % Leathers 47,307 12.1 53,905 11.6 Jewelry 23,217 6.0 31,160 6.7 Other 10,269 2.6 14,025 3.0 Total $ 390,718 100.0 % $ 465,268 100.0 %

DERIVATIVES AND RISK MANAGEME_2

DERIVATIVES AND RISK MANAGEMENT (Tables)	3 Months Ended
	Apr. 04, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of outstanding forward contracts	As of April 4, 2020 , the Company had the following outstanding forward contracts designated as cash flow hedges that were entered into to hedge future payments of inventory transactions (in millions): Functional Currency Contract Currency Type Amount Type Amount Euro 108.2 U.S. dollar 124.0 Canadian dollar 38.3 U.S. dollar 29.1 British pound 13.2 U.S. dollar 17.3 Japanese yen 1,234.5 U.S. dollar 11.6 Mexican peso 160.9 U.S. dollar 8.2 Australian dollar 6.4 U.S. dollar 4.4 U.S. dollar 19.2 Japanese yen 2,045.0
Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes	The gains and losses on cash flow hedges that were recognized in other comprehensive income (loss), net of taxes during the First Quarter and Prior Year Quarter are set forth below (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cash flow hedges: Forward contracts $ 6,573 $ 1,446 Total gain (loss) recognized in other comprehensive income (loss), net of taxes $ 6,573 $ 1,446
Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes reclassified into earnings and derivatives not designated as hedging instruments recorded directly to earnings	The following table illustrates the gains and losses on derivative instruments recorded in accumulated other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during the First Quarter and Prior Year Quarter (in thousands): Derivative Instruments Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location Effect of Derivative Instruments For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Forward contracts designated as cash flow hedging instruments Cost of sales Total gain (loss) reclassified from accumulated other comprehensive income (loss) $ 2,647 $ 2,473 Forward contracts designated as cash flow hedging instruments Other income (expense)-net Total gain (loss) reclassified from accumulated other comprehensive income (loss) $ (2,316 ) $ (18 ) Forward contracts not designated as hedging instruments Other income (expense)-net Total gain (loss) recognized in income $ 205 $ (13 )
Schedule of fair value amounts for derivative instruments as separate asset and liability values on a gross basis and their location on condensed consolidated balance sheets	The following table discloses the fair value amounts for the Company’s derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands): Asset Derivatives Liability Derivatives April 4, 2020 December 28, 2019 April 4, 2020 December 28, 2019 Derivative Instruments Condensed Consolidated Balance Sheets Location Fair Value Condensed Consolidated Balance Sheets Location Fair Value Condensed Consolidated Balance Sheets Location Fair Value Condensed Consolidated Balance Sheets Location Fair Value Forward contracts designated as cash flow hedging instruments Prepaid expenses and other current assets $ 11,641 Prepaid expenses and other current assets $ 3,327 Accrued expenses-other $ 243 Accrued expenses-other $ 1,657 Forward contracts not designated as cash flow hedging instruments Prepaid expenses and other current assets 113 Prepaid expenses and other current assets — Accrued expenses-other — Accrued expenses-other 63 Forward contracts designated as cash flow hedging instruments Intangible and other assets-net 531 Intangible and other assets-net 21 Other long-term liabilities 30 Other long-term liabilities 104 Total $ 12,285 $ 3,348 $ 273 $ 1,824 The following table summarizes the effects of the Company's derivative instruments on earnings (in thousands): Effect of Derivative Instruments For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cost of Sales Other Income (Expense)-net Cost of Sales Other Income (Expense)-net Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded $ 250,358 $ (7,290 ) $ 217,341 $ 25,912 Gain (loss) on cash flow hedging relationships: Forward contracts designated as cash flow hedging instruments: Total gain (loss) reclassified from other comprehensive income (loss) 2,647 (2,316 ) 2,473 (18 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Apr. 04, 2020
Fair Value Disclosures [Abstract]
Schedule of the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis	The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of April 4, 2020 (in thousands): Fair Value at April 4, 2020 Level 1 Level 2 Level 3 Total Assets: Forward contracts $ — $ 12,285 $ — $ 12,285 Deferred compensation plan assets: Investment in publicly traded mutual funds 4,460 — — 4,460 Total $ 4,460 $ 12,285 $ — $ 16,745 Liabilities: Contingent consideration $ — $ — $ 1,464 $ 1,464 Forward contracts — 273 — 273 Total $ — $ 273 $ 1,464 $ 1,737 The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 28, 2019 (in thousands): Fair Value at December 28, 2019 Level 1 Level 2 Level 3 Total Assets: Forward contracts $ — $ 3,348 $ — $ 3,348 Deferred compensation plan assets: Investment in publicly traded mutual funds 5,243 — — 5,243 Total $ 5,243 $ 3,348 $ — $ 8,591 Liabilities: Contingent consideration $ — $ — $ 1,141 $ 1,141 Forward contracts — 1,824 — 1,824 Total $ — $ 1,824 $ 1,141 $ 2,965

INTANGIBLE AND OTHER ASSETS (Ta

INTANGIBLE AND OTHER ASSETS (Tables)	3 Months Ended
	Apr. 04, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible and other assets-net	The following table summarizes intangible and other assets (in thousands): April 4, 2020 December 28, 2019 Useful Gross Accumulated Gross Accumulated Lives Amount Amortization Amount Amortization Intangibles-subject to amortization: Trademarks 10 yrs. $ 3,672 $ 3,044 $ 3,612 $ 2,993 Customer lists 5-10 yrs. 51,137 44,376 52,517 44,013 Patents 3-20 yrs. 2,347 1,946 2,308 1,937 Developed technology 7 yrs. 2,193 685 2,193 548 Trade name 6 yrs. 4,502 375 4,502 188 Other 7-20 yrs. 404 276 383 272 Total intangibles-subject to amortization 64,255 50,702 65,515 49,951 Intangibles-not subject to amortization: Trade names 8,852 11,315 Other assets: Deposits 18,842 18,558 Deferred compensation plan assets 4,460 5,243 Deferred tax asset-net 35,271 38,275 Restricted cash 6,804 7,501 Tax receivable 66,717 6,507 Investments 327 500 Other 2,843 2,145 Total other assets 135,264 78,729 Total intangible and other assets $ 208,371 $ 50,702 $ 155,559 $ 49,951 Total intangible and other assets-net $ 157,669 $ 105,608
Schedule of estimated aggregate future amortization expense by fiscal year for intangible assets	Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands): Fiscal Year Amortization Expense 2020 (remaining) $ 5,158 2021 $ 3,212 2022 $ 2,441 2023 $ 871 2024 $ 860 Thereafter $ 1,011

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Apr. 04, 2020
Leases [Abstract]
Components of leases	The components of lease expense were as follows (in thousands): Lease Cost Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Operating lease cost (1) SG&A $ 28,206 $ 30,858 Finance lease cost: Amortization of ROU assets SG&A $ 101 $ 448 Interest on lease liabilities Interest expense $ 11 $ 9 Short-term lease cost SG&A $ 201 $ 1,700 Variable lease cost SG&A $ 7,694 $ 6,116 _______________________________________________ (1) Includes sublease income, which was immaterial. The following table discloses supplemental balance sheet information for the Company’s leases (in thousands): Leases Condensed Consolidated Balance Sheets Location April 4, 2020 December 28, 2019 Assets Operating Operating lease ROU assets $ 269,090 $ 288,166 Finance Property, plant and equipment - net of accumulated depreciation of $4,010 and $4,015, respectively $ 5,665 $ 5,918 Liabilities Current: Operating Current operating lease liabilities $ 70,839 $ 68,838 Finance Short-term and current portion of long-term debt $ 910 $ 1,011 Noncurrent: Operating Long-term operating lease liabilities $ 281,097 $ 288,689 Finance Long-term debt $ 1,214 $ 1,468 The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases: Lease Term and Discount Rate April 4, 2020 December 28, 2019 Weighted-average remaining lease term: Operating leases 6.1 years 6.1 years Finance leases 2.0 years 2.3 years Weighted-average discount rate: Operating leases 14.0 % 13.9 % Finance leases 1.2 % 1.2 %
Maturity of lease liabilities	Future minimum lease payments by year as of April 4, 2020 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 (remaining) $ 88,158 $ 721 2021 97,604 949 2022 84,329 474 2023 67,061 — 2024 48,842 — 2025 35,351 — Thereafter 127,316 — Total lease payments $ 548,661 $ 2,144 Less: Interest 196,725 20 Total lease obligations $ 351,936 $ 2,124 Future minimum lease payments by year as of December 28, 2019 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 $ 116,778 $ 1,042 2021 94,795 978 2022 81,536 488 2023 64,582 — 2024 45,846 — Thereafter 153,255 — Total lease payments $ 556,792 $ 2,508 Less: Interest 199,265 30 Finance lease obligations $ 357,527 $ 2,478
Maturity of lease liabilities	Future minimum lease payments by year as of April 4, 2020 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 (remaining) $ 88,158 $ 721 2021 97,604 949 2022 84,329 474 2023 67,061 — 2024 48,842 — 2025 35,351 — Thereafter 127,316 — Total lease payments $ 548,661 $ 2,144 Less: Interest 196,725 20 Total lease obligations $ 351,936 $ 2,124 Future minimum lease payments by year as of December 28, 2019 were as follows (in thousands): Fiscal Year Operating Leases Finance Leases 2020 $ 116,778 $ 1,042 2021 94,795 978 2022 81,536 488 2023 64,582 — 2024 45,846 — Thereafter 153,255 — Total lease payments $ 556,792 $ 2,508 Less: Interest 199,265 30 Finance lease obligations $ 357,527 $ 2,478
Supplemental cash flow information	Supplemental cash flow information related to leases was as follows (in thousands): For the 14 Weeks Ended April 4, 2020 For the 13 Weeks Ended March 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 30,324 $ 20,092 Operating cash flows from finance leases 11 9 Financing cash flows from finance leases 309 236 Leased assets obtained in exchange for new operating lease liabilities 18,284 5,148

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	3 Months Ended
	Apr. 04, 2020
Restructuring and Related Activities [Abstract]
Rollforward of liability incurred on restructuring plan	The following table shows a rollforward of the accrued liability related to the Company’s NWF 2.0 restructuring plan (in thousands): For the 14 Weeks Ended April 4, 2020 Liabilities Liabilities December 28, 2019 Charges Cash Payments Non-cash Items April 4, 2020 Store closures $ 22 $ 732 $ 42 $ 684 $ 28 Professional services 2,824 3,189 3,963 — 2,050 Severance and employee-related benefits 4,238 5,454 5,782 — 3,910 Total $ 7,084 $ 9,375 $ 9,787 $ 684 $ 5,988
Schedule of restructuring charges by operating segment	NWF 2.0 restructuring charges by operating segment were as follows (in thousands): For the 14 Weeks Ended April 4, 2020 Americas $ 1,136 Europe 766 Asia 1,623 Corporate 5,850 Consolidated $ 9,375

FINANCIAL STATEMENT POLICIES (E

FINANCIAL STATEMENT POLICIES (Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Numerator:
Net income (loss) attributable to Fossil Group, Inc.	$ (85,581)	$ (12,242)
Denominator:
Basic weighted average common shares outstanding (in shares)	50,566	49,618
Basic EPS (in dollars per share)	$ (1.69)	$ (0.25)
Diluted EPS computation:
Basic weighted average common shares outstanding (in shares)	50,566	49,618
Diluted weighted average common shares outstanding (in shares)	50,566	49,618
Diluted EPS (in dollars per share)	$ (1.69)	$ (0.25)
Stock Compensation Plan
Other EPS Disclosures
Weighted shares issuable under stock-based awards not included in the diluted EPS calculation (in shares)	2,600	4,400
Performance Shares
Other EPS Disclosures
Weighted shares issuable under stock-based awards not included in the diluted EPS calculation (in shares)	300	1,100

FINANCIAL STATEMENT POLICIES (S

FINANCIAL STATEMENT POLICIES (Schedule Of Cash And Restricted Cash Equivalents) (Details) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019	Mar. 30, 2019	Dec. 29, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 245,427	$ 200,218	$ 271,442
Restricted cash included in prepaid expenses and other current assets	26		31
Restricted cash included in intangible and other assets-net	6,804		7,623
Cash, cash equivalents and restricted cash	$ 252,257	$ 207,749	$ 279,096	$ 410,883

FINANCIAL STATEMENT POLICIES (N

FINANCIAL STATEMENT POLICIES (Narrative) (Details)	3 Months Ended
	Jul. 04, 2020
Forecast
Unusual or Infrequent Item, or Both [Line Items]
Percent reduction in cash fees	20.00%

REVENUE (Disaggregation Of Reve

REVENUE (Disaggregation Of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 390,718	$ 465,268
Watches
Disaggregation of Revenue [Line Items]
Net sales	309,925	366,178
Leathers
Disaggregation of Revenue [Line Items]
Net sales	47,307	53,905
Jewelry
Disaggregation of Revenue [Line Items]
Net sales	23,217	31,160
Other
Disaggregation of Revenue [Line Items]
Net sales	10,269	14,025
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Net sales	387,685	460,497
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Net sales	3,033	4,771
Operating segments | Americas
Disaggregation of Revenue [Line Items]
Net sales	152,916	190,369
Operating segments | Americas | Watches
Disaggregation of Revenue [Line Items]
Net sales	119,274	148,316
Operating segments | Americas | Leathers
Disaggregation of Revenue [Line Items]
Net sales	27,989	30,752
Operating segments | Americas | Jewelry
Disaggregation of Revenue [Line Items]
Net sales	4,024	9,176
Operating segments | Americas | Other
Disaggregation of Revenue [Line Items]
Net sales	1,629	2,125
Operating segments | Americas | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Net sales	152,285	189,701
Operating segments | Americas | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Net sales	631	668
Operating segments | Europe
Disaggregation of Revenue [Line Items]
Net sales	128,250	153,277
Operating segments | Europe | Watches
Disaggregation of Revenue [Line Items]
Net sales	97,898	116,253
Operating segments | Europe | Leathers
Disaggregation of Revenue [Line Items]
Net sales	9,431	11,358
Operating segments | Europe | Jewelry
Disaggregation of Revenue [Line Items]
Net sales	17,507	20,750
Operating segments | Europe | Other
Disaggregation of Revenue [Line Items]
Net sales	3,414	4,916
Operating segments | Europe | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Net sales	127,920	152,916
Operating segments | Europe | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Net sales	330	361
Operating segments | Asia
Disaggregation of Revenue [Line Items]
Net sales	106,187	116,900
Operating segments | Asia | Watches
Disaggregation of Revenue [Line Items]
Net sales	92,742	101,606
Operating segments | Asia | Leathers
Disaggregation of Revenue [Line Items]
Net sales	9,887	11,795
Operating segments | Asia | Jewelry
Disaggregation of Revenue [Line Items]
Net sales	1,686	1,234
Operating segments | Asia | Other
Disaggregation of Revenue [Line Items]
Net sales	1,872	2,265
Operating segments | Asia | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Net sales	105,988	116,708
Operating segments | Asia | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Net sales	199	192
Corporate
Disaggregation of Revenue [Line Items]
Net sales	3,365	4,722
Corporate | Watches
Disaggregation of Revenue [Line Items]
Net sales	11	3
Corporate | Leathers
Disaggregation of Revenue [Line Items]
Net sales	0	0
Corporate | Jewelry
Disaggregation of Revenue [Line Items]
Net sales	0	0
Corporate | Other
Disaggregation of Revenue [Line Items]
Net sales	3,354	4,719
Corporate | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Net sales	1,492	1,172
Corporate | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Net sales	$ 1,873	$ 3,550

REVENUE (Contract Balances) (De

REVENUE (Contract Balances) (Details) - USD ($)	Apr. 04, 2020	Dec. 28, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract assets	$ 0
Deferred contract costs	0
Contract liabilities	13,300,000	$ 13,400,000
Wearable technology
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities	4,700,000	5,300,000
Gift Cards
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities	$ 3,200,000	$ 3,300,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Inventory Disclosure [Abstract]
Components and parts	$ 25,720	$ 35,626
Work-in-process	13,198	11,034
Finished goods	400,789	405,618
Inventories	$ 439,707	$ 452,278

WARRANTY LIABILITIES (Details)

WARRANTY LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Warranty liability activity
Beginning balance	$ 23,095	$ 22,807
Settlements in cash or kind	(3,666)	(4,125)
Warranties issued and adjustments to preexisting warranties	2,868	3,384
Ending balance	$ 22,297	$ 22,066

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Expense and Related Effective Rate) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (63,651)	$ 9,608
Effective tax rate	42.70%	(446.10%)

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) $ in Millions	3 Months Ended
	Apr. 04, 2020USD ($)
Income Tax Disclosure [Abstract]
Tax benefit, carryback	$ 61
Unrecognized tax benefits, excluding interest and penalties	35
Unrecognized tax benefits that would favorably impact effective tax rate in future periods	29.3
Unrecognized tax benefits, excluding interest and penalties, that are expected to be settled within the next twelve months	11
Accrued income tax-related interest	5.2
Accrued income tax-related penalties	1
Income tax related interest expense	$ 0.4

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 04, 2020	Dec. 28, 2019
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (in shares)	100,000,000
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares issued (in shares)	50,583,045	50,516,477
Common stock, shares outstanding (in shares)	50,583,045	50,516,477
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, par value (in dollars per share)	$ 0.01
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Authorizations remaining	$ 30

EMPLOYEE BENEFIT PLANS (Summary

EMPLOYEE BENEFIT PLANS (Summary of Stock Options and Stock Appreciation Rights Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 04, 2020	Dec. 28, 2019
Shares
Outstanding at beginning of period (in shares)	509
Granted (in shares)	0
Exercised (in shares)	0
Forfeited or expired (in shares)	(65)
Outstanding at end of period (in shares)	444	509
Exercisable at end of period (in shares)	444
Weighted- Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 76.13
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited or expired (in dollars per share)	64.90
Outstanding at end of period (in dollars per share)	77.78	$ 76.13
Exercisable at end of period (in dollars per share)	$ 77.78
Weighted- Average Remaining Contractual Term
Outstanding	2 years 4 months 24 days	2 years 6 months
Exercisable at end of period	2 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate intrinsic value outstanding	$ 0	$ 0
Exercised	0
Exercisable at end of period	$ 0

EMPLOYEE BENEFIT PLANS (Summa_2

EMPLOYEE BENEFIT PLANS (Summary of Stock Options and Stock Appreciation Rights Outstanding and Exercisable) (Details) shares in Thousands	3 Months Ended
	Apr. 04, 2020$ / sharesshares
Stock options
Stock-based compensation plans disclosures
Stock options outstanding, number of shares (in shares) | shares	142
Stock options outstanding, weighted- average exercise price (in dollars per share)	$ 108.53
Stock options outstanding, weighted- average remaining contractual term	1 year 7 months 6 days
Stock options exercisable, number of shares (in shares) | shares	142
Stock options exercisable, weighted- average exercise price (in dollars per share)	$ 108.53
Stock appreciation rights
Stock-based compensation plans disclosures
Equity instruments other than options outstanding, number of shares (in shares) | shares	302
Equity instruments other than options outstanding, weighted- average exercise price (in dollars per share)	$ 63.27
Equity instruments other than options outstanding, weighted- average remaining contractual term	2 years 9 months 18 days
Equity instruments other than options exercisable, number of shares (in shares) | shares	302
Equity instruments other than options exercisable, weighted- average exercise price (in dollars per share)	$ 63.27
$29.49 - $47.99 | Stock appreciation rights
Stock-based compensation plans disclosures
Equity instruments other than options outstanding, number of shares (in shares) | shares	174
Equity instruments other than options outstanding, weighted- average exercise price (in dollars per share)	$ 42.03
Equity instruments other than options outstanding, weighted- average remaining contractual term	3 years 6 months
Equity instruments other than options exercisable, number of shares (in shares) | shares	174
Equity instruments other than options exercisable, weighted- average exercise price (in dollars per share)	$ 42.03
$29.49 - $47.99 | Minimum | Stock appreciation rights
Stock-based compensation plans disclosures
Outstanding, lower range (in dollars per share)	29.49
$29.49 - $47.99 | Maximum | Stock appreciation rights
Stock-based compensation plans disclosures
Outstanding, upper range (in dollars per share)	$ 47.99
$55.04 - $83.83 | Stock options
Stock-based compensation plans disclosures
Stock options outstanding, number of shares (in shares) | shares	59
Stock options outstanding, weighted- average exercise price (in dollars per share)	$ 81.41
Stock options outstanding, weighted- average remaining contractual term	1 year 1 month 6 days
Stock options exercisable, number of shares (in shares) | shares	59
Stock options exercisable, weighted- average exercise price (in dollars per share)	$ 81.41
$55.04 - $83.83 | Stock appreciation rights
Stock-based compensation plans disclosures
Equity instruments other than options outstanding, number of shares (in shares) | shares	73
Equity instruments other than options outstanding, weighted- average exercise price (in dollars per share)	$ 78.84
Equity instruments other than options outstanding, weighted- average remaining contractual term	2 years 2 months 12 days
Equity instruments other than options exercisable, number of shares (in shares) | shares	73
Equity instruments other than options exercisable, weighted- average exercise price (in dollars per share)	$ 78.84
$55.04 - $83.83 | Minimum | Stock options
Stock-based compensation plans disclosures
Outstanding, lower range (in dollars per share)	55.04
$55.04 - $83.83 | Minimum | Stock appreciation rights
Stock-based compensation plans disclosures
Outstanding, lower range (in dollars per share)	55.04
$55.04 - $83.83 | Maximum | Stock options
Stock-based compensation plans disclosures
Outstanding, upper range (in dollars per share)	83.83
$55.04 - $83.83 | Maximum | Stock appreciation rights
Stock-based compensation plans disclosures
Outstanding, upper range (in dollars per share)	$ 83.83
$95.91 - $131.46 | Stock options
Stock-based compensation plans disclosures
Stock options outstanding, number of shares (in shares) | shares	83
Stock options outstanding, weighted- average exercise price (in dollars per share)	$ 128.05
Stock options outstanding, weighted- average remaining contractual term	1 year 10 months 24 days
Stock options exercisable, number of shares (in shares) | shares	83
Stock options exercisable, weighted- average exercise price (in dollars per share)	$ 128.05
$95.91 - $131.46 | Stock appreciation rights
Stock-based compensation plans disclosures
Equity instruments other than options outstanding, number of shares (in shares) | shares	55
Equity instruments other than options outstanding, weighted- average exercise price (in dollars per share)	$ 109.76
Equity instruments other than options outstanding, weighted- average remaining contractual term	1 year 6 months
Equity instruments other than options exercisable, number of shares (in shares) | shares	55
Equity instruments other than options exercisable, weighted- average exercise price (in dollars per share)	$ 109.76
$95.91 - $131.46 | Minimum | Stock options
Stock-based compensation plans disclosures
Outstanding, lower range (in dollars per share)	95.91
$95.91 - $131.46 | Minimum | Stock appreciation rights
Stock-based compensation plans disclosures
Outstanding, lower range (in dollars per share)	95.91
$95.91 - $131.46 | Maximum | Stock options
Stock-based compensation plans disclosures
Outstanding, upper range (in dollars per share)	131.46
$95.91 - $131.46 | Maximum | Stock appreciation rights
Stock-based compensation plans disclosures
Outstanding, upper range (in dollars per share)	$ 131.46

EMPLOYEE BENEFIT PLANS (Summa_3

EMPLOYEE BENEFIT PLANS (Summary of Restricted Stock Units and Performance Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Apr. 04, 2020USD ($)$ / sharesshares
Number of Shares
Nonvested (in shares) | shares	2,329
Granted (in shares) | shares	0
Vested (in shares) | shares	(91)
Forfeited (in shares) | shares	(166)
Nonvested (in shares) | shares	2,072
Weighted-Average Grant Date Fair Value Per Share
Nonvested (in dollars per share) | $ / shares	$ 15.16
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	10.44
Forfeited (in dollars per share) | $ / shares	15.56
Nonvested (in dollars per share) | $ / shares	$ 15.34
Fair value of restricted stock and restricted stock units vested | $	$ 0.7

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	$ 503,841	$ 588,631
Other comprehensive income (loss) before reclassifications	(3,168)	(781)
Tax (expense) benefit	(1,452)	(263)
Amounts reclassed from accumulated other comprehensive income (loss)	360	2,655
Tax (expense) benefit	(29)	(200)
Total other comprehensive income (loss)	(4,951)	(3,499)
Ending balance	416,373	549,226
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	(80,474)	(74,868)
Other comprehensive income (loss) before reclassifications	(11,193)	(2,490)
Tax (expense) benefit	0	0
Amounts reclassed from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Total other comprehensive income (loss)	(11,193)	(2,490)
Ending balance	(91,667)	(77,358)
Cash Flow Hedges | Forward Contracts
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	2,983	8,582
Other comprehensive income (loss) before reclassifications	8,025	1,709
Tax (expense) benefit	(1,452)	(263)
Amounts reclassed from accumulated other comprehensive income (loss)	360	2,655
Tax (expense) benefit	(29)	(200)
Total other comprehensive income (loss)	6,242	(1,009)
Ending balance	9,225	7,573
Pension Plan
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	(3,124)	1,595
Other comprehensive income (loss) before reclassifications	0	0
Tax (expense) benefit	0	0
Amounts reclassed from accumulated other comprehensive income (loss)	0	0
Tax (expense) benefit	0	0
Total other comprehensive income (loss)	0	0
Ending balance	(3,124)	1,595
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	(80,615)	(64,691)
Total other comprehensive income (loss)	(4,951)	(3,499)
Ending balance	$ (85,566)	$ (68,190)

SEGMENT INFORMATION (Summary In

SEGMENT INFORMATION (Summary Information by Operating Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Summary information by operating segment
Net sales	$ 390,718	$ 465,268
Operating Income (Loss)	(134,341)	(19,944)
Operating segments | Americas
Summary information by operating segment
Net sales	152,916	190,369
Operating Income (Loss)	(61,644)	10,918
Operating segments | Europe
Summary information by operating segment
Net sales	128,250	153,277
Operating Income (Loss)	(2,655)	14,280
Operating segments | Asia
Summary information by operating segment
Net sales	106,187	116,900
Operating Income (Loss)	11,239	21,041
Corporate
Summary information by operating segment
Net sales	3,365	4,722
Operating Income (Loss)	$ (81,281)	$ (66,183)

SEGMENT INFORMATION (Schedule o

SEGMENT INFORMATION (Schedule of Net Sales for Each Class of Similar Products) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Net sales for each class of similar products
Net sales	$ 390,718	$ 465,268
Percentage of Total	100.00%	100.00%
Watches
Net sales for each class of similar products
Net sales	$ 309,925	$ 366,178
Percentage of Total	79.30%	78.70%
Leathers
Net sales for each class of similar products
Net sales	$ 47,307	$ 53,905
Percentage of Total	12.10%	11.60%
Jewelry
Net sales for each class of similar products
Net sales	$ 23,217	$ 31,160
Percentage of Total	6.00%	6.70%
Other
Net sales for each class of similar products
Net sales	$ 10,269	$ 14,025
Percentage of Total	2.60%	3.00%

DERIVATIVES AND RISK MANAGEME_3

DERIVATIVES AND RISK MANAGEMENT (Cash Flow Hedges) (Details) € in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	3 Months Ended
	Apr. 04, 2020USD ($)	Apr. 04, 2020GBP (£)	Apr. 04, 2020AUD ($)	Apr. 04, 2020EUR (€)	Apr. 04, 2020MXN ($)	Apr. 04, 2020CAD ($)	Apr. 04, 2020JPY (¥)
Derivative [Line Items]
Foreign currency cash flow hedge maximum length of projection term	24 months
Forecasted purchases to manage fluctuations (as a percent) (up to)	85.00%	85.00%	85.00%	85.00%	85.00%	85.00%	85.00%
Forward Contracts | Designated as cash flow hedges | Euro
Derivative [Line Items]
Notional amount	$ 124			€ 108.2
Forward Contracts | Designated as cash flow hedges | Canadian dollar
Derivative [Line Items]
Notional amount	29.1					$ 38.3
Forward Contracts | Designated as cash flow hedges | British pound
Derivative [Line Items]
Notional amount	17.3	£ 13.2
Forward Contracts | Designated as cash flow hedges | Japanese yen
Derivative [Line Items]
Notional amount	11.6						¥ 1,234.5
Forward Contracts | Designated as cash flow hedges | Mexican peso
Derivative [Line Items]
Notional amount	8.2				$ 160.9
Forward Contracts | Designated as cash flow hedges | Australian dollar
Derivative [Line Items]
Notional amount	4.4		$ 6.4
Forward Contracts | Designated as cash flow hedges | U.S. dollar
Derivative [Line Items]
Notional amount	$ 19.2						¥ 2,045

DERIVATIVES AND RISK MANAGEME_4

DERIVATIVES AND RISK MANAGEMENT (Non-designated Hedges) (Details) - Apr. 04, 2020 - Forward Contracts - Not designated as hedging instruments R in Millions, $ in Millions	USD ($)	ZAR (R)
Derivative [Line Items]
Fair value of designated forward contracts | $	$ 0.5
Hedged amount | R		R 6.6

DERIVATIVES AND RISK MANAGEME_5

DERIVATIVES AND RISK MANAGEMENT (Derivative Instruments Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Derivative [Line Items]
Total gain (loss) recognized in other comprehensive income (loss), net of taxes	$ 6,573	$ 1,446
Cash flow hedges | Forward Contracts
Derivative [Line Items]
Total gain (loss) recognized in other comprehensive income (loss), net of taxes	$ 6,573	$ 1,446

DERIVATIVES AND RISK MANAGEME_6

DERIVATIVES AND RISK MANAGEMENT (Derivative Instruments Designated and Qualifying as Cash Flow Hedges) (Details) - Forward Contracts - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Cost of sales | Designated as cash flow hedges | Cash flow hedges
Effective portion of gains and losses on derivative instruments
Total gain (loss) reclassified from accumulated other comprehensive income (loss)	$ 2,647	$ 2,473
Other income (expense)-net | Designated as cash flow hedges | Cash flow hedges
Effective portion of gains and losses on derivative instruments
Total gain (loss) reclassified from accumulated other comprehensive income (loss)	(2,316)	(18)
Other income (expense)-net | Not designated as hedging instruments
Effective portion of gains and losses on derivative instruments
Total gain (loss) recognized in income	$ 205	$ (13)

DERIVATIVES AND RISK MANAGEME_7

DERIVATIVES AND RISK MANAGEMENT (Fair Value Amounts for Derivative Instruments) (Details) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Fair value of derivative instruments
Asset derivatives, fair value	$ 12,285	$ 3,348
Liability derivatives, fair value	273	1,824
Net gain expected to be reclassified into earnings within the next twelve months	10,000
Forward Contracts | Designated as cash flow hedges | Cash flow hedges | Prepaid expenses and other current assets
Fair value of derivative instruments
Asset derivatives, fair value	11,641	3,327
Forward Contracts | Designated as cash flow hedges | Cash flow hedges | Intangible and other assets-net
Fair value of derivative instruments
Asset derivatives, fair value	531	21
Forward Contracts | Designated as cash flow hedges | Cash flow hedges | Accrued expenses-other
Fair value of derivative instruments
Liability derivatives, fair value	243	1,657
Forward Contracts | Designated as cash flow hedges | Cash flow hedges | Other long-term liabilities
Fair value of derivative instruments
Liability derivatives, fair value	30	104
Forward Contracts | Not designated as hedging instruments | Prepaid expenses and other current assets
Fair value of derivative instruments
Asset derivatives, fair value	113	0
Forward Contracts | Not designated as hedging instruments | Accrued expenses-other
Fair value of derivative instruments
Liability derivatives, fair value	$ 0	$ 63

DERIVATIVES AND RISK MANAGEME_8

DERIVATIVES AND RISK MANAGEMENT (Effect of Derivative Instruments on Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Derivative [Line Items]
Cost of Sales	$ 250,358	$ 217,341
Other Income (Expense)-net	(7,290)	25,912
Designated as cash flow hedges | Cash flow hedges | Forward Contracts | Cost of Sales
Derivative [Line Items]
Total gain (loss) reclassified from other comprehensive income (loss)	2,647	2,473
Designated as cash flow hedges | Cash flow hedges | Forward Contracts | Other income (expense)-net
Derivative [Line Items]
Total gain (loss) reclassified from other comprehensive income (loss)	$ (2,316)	$ (18)

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value Hierarchy of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Fair Value Measurement, Recurring Basis - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Estimate of Fair Value Measurement
Assets:
Forward contracts	$ 12,285	$ 3,348
Investment in publicly traded mutual funds	4,460	5,243
Total	16,745	8,591
Liabilities:
Contingent consideration	1,464	1,141
Forward contracts	273	1,824
Total	1,737	2,965
Level 1
Assets:
Forward contracts	0	0
Investment in publicly traded mutual funds	4,460	5,243
Total	4,460	5,243
Liabilities:
Contingent consideration	0	0
Forward contracts	0	0
Total	0	0
Level 2
Assets:
Forward contracts	12,285	3,348
Investment in publicly traded mutual funds	0	0
Total	12,285	3,348
Liabilities:
Contingent consideration	0	0
Forward contracts	273	1,824
Total	273	1,824
Level 3
Assets:
Forward contracts	0	0
Investment in publicly traded mutual funds	0	0
Total	0	0
Liabilities:
Contingent consideration	1,464	1,141
Forward contracts	0	0
Total	$ 1,464	$ 1,141

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019	Dec. 28, 2019
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Debt, carrying value	$ 338,700
Fair value of debt	282,900
Implied fair value	64,255		$ 65,515
Operating lease assets	269,090		288,166
Property, plant and equipment - net	138,689		151,500
Impairment charges	16,970	$ 880
Specific Company Owned Stores
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Operating lease assets	23,400
Property, plant and equipment - net	3,100
Fair value of operating lease assets	8,000
Fair value of property, plant and equipment - net	900
Impairment charges	17,600
Selling, General and Administrative | Americas | Specific Company Owned Stores
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Impairment charges	14,200
Selling, General and Administrative | Europe | Specific Company Owned Stores
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Impairment charges	2,200
Selling, General and Administrative | Asia | Specific Company Owned Stores
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Impairment charges	400
Restructuring Charges | Europe | Specific Company Owned Stores
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Impairment charges	100
Restructuring Charges | Asia | Specific Company Owned Stores
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Impairment charges	700
Fair Value Measurement, Recurring Basis | Level 3
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Contingent consideration liability	1,464		1,141
Accrued expenses - other | Fair Value Measurement, Recurring Basis | Level 3
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Contingent consideration liability	100
Other long-term liabilities | Fair Value Measurement, Recurring Basis | Level 3
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Contingent consideration liability	1,400
Trade name
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Trade names, carrying amount	10,900
Implied fair value	4,502		$ 4,502
Trade name impairment charge	2,500
Trade name | Level 3
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
Implied fair value	$ 8,400

INTANGIBLE AND OTHER ASSETS (In

INTANGIBLE AND OTHER ASSETS (Intangible and Other Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Dec. 28, 2019
Intangibles-subject to amortization:
Gross Amount	$ 64,255	$ 65,515
Accumulated Amortization	50,702	49,951
Intangibles-not subject to amortization:
Gross Amount	8,852	11,315
Other assets:
Gross Amount	135,264	78,729
Total Gross Amount	208,371	155,559
Total Accumulated Amortization	50,702	49,951
Total intangible and other assets-net	157,669	105,608
Deposits
Other assets:
Gross Amount	18,842	18,558
Deferred compensation plan assets
Other assets:
Gross Amount	4,460	5,243
Deferred tax asset-net
Other assets:
Gross Amount	35,271	38,275
Restricted cash
Other assets:
Gross Amount	6,804	7,501
Tax receivable
Other assets:
Gross Amount	66,717	6,507
Investments
Other assets:
Gross Amount	327	500
Other
Other assets:
Gross Amount	$ 2,843	2,145
Trademarks
Intangibles-subject to amortization:
Useful Lives	10 years
Gross Amount	$ 3,672	3,612
Accumulated Amortization	3,044	2,993
Customer lists
Intangibles-subject to amortization:
Gross Amount	51,137	52,517
Accumulated Amortization	$ 44,376	44,013
Customer lists | Minimum
Intangibles-subject to amortization:
Useful Lives	5 years
Customer lists | Maximum
Intangibles-subject to amortization:
Useful Lives	10 years
Patents
Intangibles-subject to amortization:
Gross Amount	$ 2,347	2,308
Accumulated Amortization	$ 1,946	1,937
Patents | Minimum
Intangibles-subject to amortization:
Useful Lives	3 years
Patents | Maximum
Intangibles-subject to amortization:
Useful Lives	20 years
Developed technology
Intangibles-subject to amortization:
Useful Lives	7 years
Gross Amount	$ 2,193	2,193
Accumulated Amortization	$ 685	548
Trade name
Intangibles-subject to amortization:
Useful Lives	6 years
Gross Amount	$ 4,502	4,502
Accumulated Amortization	375	188
Other
Intangibles-subject to amortization:
Gross Amount	404	383
Accumulated Amortization	$ 276	$ 272
Other | Minimum
Intangibles-subject to amortization:
Useful Lives	7 years
Other | Maximum
Intangibles-subject to amortization:
Useful Lives	20 years

INTANGIBLE AND OTHER ASSETS (Na

INTANGIBLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 1.9	$ 1.7

INTANGIBLE AND OTHER ASSETS (Am

INTANGIBLE AND OTHER ASSETS (Amortization Expense) (Details) $ in Thousands	Apr. 04, 2020USD ($)
Amortization Expense
2020 (remaining)	$ 5,158
2021	3,212
2022	2,441
2023	871
2024	860
Thereafter	$ 1,011

LEASES (Narrative) (Details)

LEASES (Narrative) (Details)	Apr. 04, 2020
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	10 years

LEASES (Components of Lease Exp

LEASES (Components of Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Leases [Abstract]
Operating lease cost	$ 28,206	$ 30,858
Amortization of ROU assets	101	448
Interest on lease liabilities	11	9
Short-term lease cost	201	1,700
Variable lease cost	$ 7,694	$ 6,116

LEASES (Supplemental Balance Sh

LEASES (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Assets
Operating lease right-of-use assets	$ 269,090	$ 288,166
Finance	5,665	5,918
Accumulated depreciation	4,010	4,015
Current:
Operating	70,839	68,838
Finance	910	1,011
Noncurrent:
Operating	281,097	288,689
Finance	$ 1,214	$ 1,468

LEASES (Weighted-Average Remain

LEASES (Weighted-Average Remaining Lease Term and Discount Rate) (Details)	Apr. 04, 2020	Dec. 28, 2019
Leases [Abstract]
Weighted-average remaining lease term, Operating leases	6 years 1 month 6 days	6 years 1 month 6 days
Weighed-average remaining lease term, Finance leases	2 years	2 years 3 months 18 days
Weighted-average discount rate, Operating leases	14.00%	13.90%
Weighted-average discount rate, Finance leases	1.20%	1.20%

LEASES (Maturity of Lease Liabi

LEASES (Maturity of Lease Liabilities) (Details) - USD ($) $ in Thousands	Apr. 04, 2020	Dec. 28, 2019
Operating Leases
2020 (remaining)	$ 88,158
2020		$ 116,778
2021	97,604	94,795
2022	84,329	81,536
2023	67,061	64,582
2024	48,842	45,846
2025	35,351
Thereafter	127,316
Thereafter		153,255
Total lease payments	548,661	556,792
Less: Interest	196,725	199,265
Total lease obligations	351,936	357,527
Finance Leases
2020 (remaining)	721
2020		1,042
2021	949	978
2022	474	488
2023	0	0
2024	0	0
2025	0
Thereafter	0
Thereafter		0
Total lease payments	2,144	2,508
Less: Interest	20	30
Total lease obligations	$ 2,124	$ 2,478

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 30,324	$ 20,092
Operating cash flows from finance leases	11	9
Financing cash flows from finance leases	309	236
Leased assets obtained in exchange for new operating lease liabilities	$ 18,284	$ 5,148

DEBT ACTIVITY (Details)

DEBT ACTIVITY (Details)	Jun. 05, 2020USD ($)	Feb. 20, 2020USD ($)	Sep. 26, 2019USD ($)	Apr. 04, 2020USD ($)	Mar. 30, 2019USD ($)
Debt Instrument [Line Items]
Aggregate outstanding principal amount				$ 338,700,000
Interest expense				7,464,000	$ 8,122,000
Debt issuance amortization				2,100,000
Term Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs		$ 8,100,000
Term Loan Facility
Debt Instrument [Line Items]
Aggregate outstanding principal amount				190,000,000
Net borrowings (repayments) of debt				(10,000,000)
Interest expense				4,700,000
Term Loan Facility | Term Credit Agreement
Debt Instrument [Line Items]
Maximum total leverage ratio permitted			1.50
Quarterly amortization payment, initial amount			$ 5,000,000
Minimum liquidity level			$ 150,000,000
Percentage of equity interests in foreign subsidiaries pledged as collateral			0.65
Term Loan Facility | Term Credit Agreement | Debt Covenant Period One
Debt Instrument [Line Items]
Maximum total leverage ratio permitted		2.75
Prepayment fee percentage, year one		2.00%
Term Loan Facility | Term Credit Agreement | Debt Covenant Period Two
Debt Instrument [Line Items]
Maximum total leverage ratio permitted		2.25
Prepayment fee percentage, year one		1.00%
Term Loan Facility | Term Credit Agreement | Debt Covenant Period Three
Debt Instrument [Line Items]
Maximum total leverage ratio permitted		1.50
Term Loan Facility | Term Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		8.00%	6.50%
Term Loan Facility | Term Credit Agreement | Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		7.00%	5.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate outstanding principal amount				158,900,000
Net borrowings (repayments) of debt				130,900,000
Line of credit facility, remaining borrowing capacity				33,000,000
Interest expense				$ 400,000
Revolving Credit Facility | Term Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, annual authorized prepayment amount		$ 200,000,000
Subsequent Event | Term Loan Facility | Term Credit Agreement
Debt Instrument [Line Items]
Prepayment fee percentage, year one	2.00%
Principal prepayment	$ 15,000,000
Quarterly amortization payment, initial amount	8,000,000
Quarterly amortization payment, after September 30, 2020	$ 10,000,000
Period for waived prepayment fees (in days)	90 days
Prepayment fee percentage, year two	1.00%
Minimum liquidity level	$ 125,000,000
Percentage of equity interests in foreign subsidiaries pledged as collateral	1
Subsequent Event | Term Loan Facility | Term Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	8.50%
Subsequent Event | Term Loan Facility | Term Credit Agreement | Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	7.50%

RESTRUCTURING (Narrative) (Deta

RESTRUCTURING (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 04, 2020	Mar. 30, 2019	Jan. 02, 2021	Dec. 28, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 9,375	$ 10,187
NWF 1.0
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	3,700
NWF 2.0
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	5,988			$ 7,084
Restructuring charges	9,375
Minimum | NWF 2.0
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	50,000
Maximum | NWF 2.0
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	$ 70,000
Forecast | NWF 2.0
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 25,000

RESTRUCTURING (Liability Incurr

RESTRUCTURING (Liability Incurred for Restructuring Plan) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Restructuring Reserve
Charges	$ 9,375	$ 10,187
NWF 2.0
Restructuring Reserve
Beginning balance	7,084
Charges	9,375
Cash Payments	9,787
Non-cash Items	684
Ending balance	5,988
NWF 2.0 | Store closures
Restructuring Reserve
Beginning balance	22
Charges	732
Cash Payments	42
Non-cash Items	684
Ending balance	28
NWF 2.0 | Professional services
Restructuring Reserve
Beginning balance	2,824
Charges	3,189
Cash Payments	3,963
Non-cash Items	0
Ending balance	2,050
NWF 2.0 | Severance and employee-related benefits
Restructuring Reserve
Beginning balance	4,238
Charges	5,454
Cash Payments	5,782
Non-cash Items	0
Ending balance	$ 3,910

RESTRUCTURING (Restructuring Ch

RESTRUCTURING (Restructuring Charges by Operating Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2020	Mar. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 9,375	$ 10,187
NWF 2.0
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9,375
NWF 2.0 | Operating segments | Americas
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,136
NWF 2.0 | Operating segments | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring charges	766
NWF 2.0 | Operating segments | Asia
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,623
NWF 2.0 | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,850

Uncategorized Items - fosl-q144

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (29,468,000)
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(29,468,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (29,468,000)