Fossil (FOSL) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Apr. 04, 2015	Apr. 30, 2015
Document and Entity Information
Entity Registrant Name	Fossil Group, Inc.
Entity Central Index Key	883569
Document Type	10-Q
Document Period End Date	4-Apr-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-1
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		48,810,385
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$236,843	$276,261
Accounts receivable-net of allowances of $74,845 and $80,047, respectively	266,139	430,498
Inventories	630,590	597,281
Deferred income tax assets-net	33,460	34,084
Prepaid expenses and other current assets	178,292	151,730
Total current assets	1,345,324	1,489,854
Property, plant and equipment-net of accumulated depreciation of $363,260 and $360,191, respectively	331,665	345,606
Goodwill	196,040	197,728
Intangible and other assets-net	170,436	174,364
Total long-term assets	698,141	717,698
Total assets	2,043,465	2,207,552
Current liabilities:
Accounts payable	154,806	159,267
Short-term and current portion of long-term debt	18,471	16,646
Accrued expenses:
Compensation	58,242	50,776
Royalties	20,094	54,013
Co-op advertising	18,630	28,591
Transaction taxes	15,127	35,301
Other	77,325	75,609
Income taxes payable	20,844	26,626
Total current liabilities	383,539	446,829
Long-term income taxes payable	16,683	16,610
Deferred income tax liabilities	79,081	87,860
Long-term debt	626,373	613,659
Other long-term liabilities	57,528	58,793
Total long-term liabilities	779,665	776,922
Commitments and contingencies (Note 13)
Stockholders' equity:
Common stock, 49,527 and 50,771 shares issued and outstanding at April 4, 2015 and January 3, 2015, respectively	495	508
Additional paid-in capital	174,201	171,669
Retained earnings	746,081	822,093
Accumulated other comprehensive income (loss)	-49,855	-16,410
Total Fossil Group, Inc. stockholders' equity	870,922	977,860
Noncontrolling interest	9,339	5,941
Total stockholders' equity	880,261	983,801
Total liabilities and stockholders' equity	$2,043,465	$2,207,552

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, unless otherwise specified
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable - allowances (in dollars)	$74,845	$80,047
Property, plant and equipment, accumulated depreciation (in dollars)	$363,260	$360,191
Common stock, shares issued	49,527	50,771
Common stock, shares outstanding	49,527	50,771

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Net sales	$725,085	$776,544
Cost of sales	324,361	333,324
Gross profit	400,724	443,220
Operating expenses:
Selling, general and administrative expenses	332,482	338,522
Restructuring charges	12,088
Total operating expenses	344,570	338,522
Operating income	56,154	104,698
Interest expense	4,178	3,706
Other income (expense)-net	7,186	-351
Income before income taxes	59,162	100,641
Provision for income taxes	18,524	31,480
Net income	40,638	69,161
Less: Net income attributable to noncontrolling interest	2,568	2,818
Net income attributable to Fossil Group, Inc.	38,070	66,343
Other comprehensive income (loss), net of taxes:
Currency translation adjustment	-33,506	-1,125
Derivative instruments-net change	61	239
Total other comprehensive income (loss)	-33,445	-886
Total comprehensive income	7,193	68,275
Less: Comprehensive income attributable to noncontrolling interest	2,568	2,818
Comprehensive income attributable to Fossil Group, Inc.	$4,625	$65,457
Earnings per share:
Basic (in dollars per share)	$0.76	$1.23
Diluted (in dollars per share)	$0.75	$1.22
Weighted average common shares outstanding:
Basic (in shares)	50,294	54,125
Diluted (in shares)	50,467	54,351

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
Operating Activities:
Net income	$40,638	$69,161
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion	22,113	23,377
Stock-based compensation	4,346	4,978
Decrease in allowance for returns-net of inventory in transit	-869	-1,525
Loss (gain) on disposal of assets	2,202	-31
Impairment losses	1,270	282
Decrease in allowance for doubtful accounts	-1,320	-1,063
Excess tax benefits from stock-based compensation	-354	-938
Deferred income taxes and other	247	-440
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	158,594	167,760
Inventories	-49,087	-32,002
Prepaid expenses and other current assets	-30,391	-38,439
Accounts payable	-5,718	-17,879
Accrued expenses	-50,900	-80,095
Income taxes payable	-5,801	3,829
Net cash provided by operating activities	84,970	96,975
Investing Activities:
Additions to property, plant and equipment	-16,860	-21,505
Increase in intangible and other assets	-1,402	-2,165
Skagen Designs arbitration settlement	5,968
Business acquisitions-net of cash acquired	-4,970
Net cash used in investing activities	-17,264	-23,670
Financing Activities:
Acquisition of common stock	-116,047	-119,715
Distribution of noncontrolling interest earnings and other	-5,056	-5,391
Excess tax benefits from stock-based compensation	354	938
Debt borrowings	1,070,363	196,200
Debt payments	-1,055,584	-162,456
Proceeds from exercise of stock options	444	759
Net cash used in financing activities	-105,526	-89,665
Effect of exchange rate changes on cash and cash equivalents	-1,598	-701
Net decrease in cash and cash equivalents	-39,418	-17,061
Cash and cash equivalents:
Beginning of period	276,261	320,479
End of period	$236,843	$303,418

FINANCIAL_STATEMENT_POLICIES

FINANCIAL STATEMENT POLICIES	3 Months Ended
	Apr. 04, 2015
FINANCIAL STATEMENT POLICIES
FINANCIAL STATEMENT POLICIES
	1. 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 prior fiscal year ending January 3, 2015 was a 53-week year, with the additional week included in the first quarter. Accordingly, the information presented herein includes thirteen weeks of operations for the quarter ended April 4, 2015 (“First Quarter”) as compared to fourteen weeks included in the quarter ended April 5, 2014 (“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, 2015, and the results of operations for the First Quarter and Prior Year Quarter. All adjustments are of a normal, recurring nature.
	Effective during the First Quarter, the Company made changes to the presentation of its reportable segments to reflect changes in the way its chief operating decision maker evaluates the performance of its operations, develops strategy and allocates capital resources. The Company has realigned its operating structure. Strategic and brand directions are set centrally and regional management is now fully empowered and responsible to drive those strategies and brand directions across all brands and channels within their regions. As part of the new operating structure the regional teams manage both the wholesale and retail businesses within their regions whereas previously the retail business was managed globally. Additionally, with the implementation of new reporting systems, the Company has the ability to extract discrete financial information that aligns with its operating structure and is consistent with how management now evaluates the business performance. The Company’s reportable segments now consist of the following: (i) Americas, (ii) Europe and (iii) Asia. Prior to the First Quarter 2015 Form 10-Q, as reported in the 2014 Form 10-K, the Company’s reportable segments consisted of the following: (i) North America wholesale, (ii) Europe wholesale, (iii) Asia Pacific wholesale and (iv) Direct to consumer.
	These changes to the Company’s reportable segments include the following:
		-1		Reclassification of the Company’s retail, e-commerce and catalog activities, all of which were previously recorded within the Company’s Direct to consumer segment, to the Americas, Europe and Asia segments based on the geographic location of the activities.
		-2		The Company’s wholesale operations in North America, Europe and Asia Pacific previously recorded within the North America wholesale, Europe wholesale and Asia Pacific wholesale segments, respectively, have been reclassified to the Americas, Europe and Asia segments, respectively.
		-3		Intercompany profit attributable to the Company’s factory operations was previously included in the Asia Pacific wholesale and Europe wholesale segments in accordance with the geographic location of the factories, and is now eliminated from all reporting segments.
		-4		Certain corporate costs are not allocated to the various segments because they are managed at the corporate level for internal purposes. Prior to the change in reporting segments, these expenses included, and after the change in reporting segments, continue to include, general corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, and payroll costs attributable to executive management. Additionally, certain brand management, product development, art, creative/product design, marketing and back office supply chain expenses which were previously included in North America wholesale, Europe wholesale, Asia Pacific wholesale and Direct to consumer segments prior to the change in reporting segments are now reported in corporate. Conversely, certain back office costs reported in corporate prior to the change in reporting segments are now included in the various reporting segments in which they are now managed.
	The Company’s historical segment disclosures have been recast to be consistent with the current presentation.
	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 January 3, 2015 (the “2014 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 2014 Form 10-K. Certain prior year amounts have been reclassified to conform to the current year presentation.
	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, sunglasses, soft accessories and select apparel. 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.
	Hedging Instruments. The Company is exposed to certain market risks relating to foreign exchange rates and interest rates. The Company actively monitors and attempts to manage these exposures using derivative instruments including foreign currency forward contracts and interest rate swaps. The Company’s foreign subsidiaries periodically enter into foreign exchange forward contracts to hedge the future payment of intercompany inventory transactions denominated in U.S. dollars. If the Company was to settle its euro, British pound, Canadian dollar, Japanese yen, Australian dollar, and Mexican peso forward contracts as of April 4, 2015, the net result would have been a net gain of approximately $21.9 million, net of taxes. To help protect against adverse existing and forecasted fluctuations in interest rates, the Company has entered into interest rate swap agreements to effectively convert portions of its existing and forecasted variable rate debt obligations to fixed rates. To reduce exposure to changes in currency exchange rates adversely affecting the Company’s investment in a euro-denominated subsidiary, the Company entered into a forward contract designated as a net investment hedge that was settled during the second quarter of fiscal year 2014. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. See “Note 10—Derivatives and Risk Management” for additional disclosures about the Company’s use of derivatives.
	Operating expenses. Operating expenses include selling, general and administrative expenses (“SG&A”), 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 and store closures.
	Earnings 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 13		For the 14
			Weeks Ended		Weeks Ended
			April 4,		April 5,
			2015		2014
	Numerator:
	Net income attributable to Fossil Group, Inc.		$	38,070	$	66,343
	Denominator:
	Basic EPS computation:
	Basic weighted average common shares outstanding		50,294		54,125
	Basic EPS		$	0.76	$	1.23
	Diluted EPS computation:
	Basic weighted average common shares outstanding		50,294		54,125
	Effect of stock options, stock appreciation rights, restricted stock units and performance restricted stock units		173		226
	Diluted weighted average common shares outstanding		50,467		54,351
	Diluted EPS		$	0.75	$	1.22
	Approximately 352,400 and 273,400 weighted average common shares issuable under stock-based awards were not included in the diluted EPS calculation at the end of the First Quarter and Prior Year Quarter, respectively, because they were antidilutive.
	Recently Issued Accounting Standards. In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-04, Compensation—Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets (“ASU 2015-04”). ASU 2015-04 provides an entity with a fiscal year-end that does not coincide with a month-end a practical expedient that allows the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity’s fiscal year-end and apply that practical expedient consistently from year to year. If an entity has a significant event in an interim period that requires the remeasurement of defined benefit plan assets and obligations such as a partial settlement, ASU 2015-04 also provides a practical expedient that permits the entity to remeasure defined benefit plan assets and obligations using the month-end that is closest to the date of the significant event and adjust for any effects of the significant event not captured in the month-end measurement.  If an entity applies the practical expedient and a contribution is made between the month-end date used for measurement and the entity’s fiscal year-end, the entity should disclose the amount of the contribution to allow reconciliation of the fair value of plan assets in the fair value hierarchy to the ending balance of the fair value of plan assets. ASU 2015-04 is effective for annual periods beginning after December 15, 2015 with early adoption permitted. This standard will not have a material impact on the Company’s consolidated results of operations or financial position.
	In April 2015, FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual periods beginning after December 15, 2015 with early adoption permitted. This standard will not have a material impact on the Company’s consolidated results of operations or financial position.
	In January 2015, FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”). ASU 2015-01 eliminates from U.S. GAAP the concept of extraordinary items as part of its initiative to reduce complexity in accounting standards. As a result, an entity will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings-per-share data applicable to an extraordinary item. However, ASU 2015-01 will still retain the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. ASU 2015-01 is effective for annual periods beginning after December 15, 2015 with early adoption permitted. This standard will not have a material impact on the Company’s consolidated results of operations or financial position.
	In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), to provide guidance on management’s responsibility to perform interim and annual assessments of an entity’s ability to continue as a going concern and to provide related disclosure. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. This standard will not have a material impact on the Company’s consolidated results of operations or financial position.
	In June 2014, FASB issued ASU 2014-12, Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”). ASU 2014-12 requires that a performance target, that affects vesting and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the effect of adopting ASU 2014-12, but does not expect that adoption will have a material impact on the Company’s consolidated results of operations or financial position.
	In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 provides alternative methods of retrospective adoption and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is not permitted. The Company is evaluating the effect of adopting ASU 2014-09, but does not expect that adoption will have a material impact on the Company’s consolidated results of operations or financial position.
	Recently Adopted Accounting Standards. In accordance with U.S. GAAP, the following provision, which had no material impact on the Company’s financial position, results of operations or cash flows, was adopted effective for the First Quarter: ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.

ACQUISITION_AND_GOODWILL

ACQUISITION AND GOODWILL	3 Months Ended
	Apr. 04, 2015
ACQUISITION AND GOODWILL
ACQUISITION AND GOODWILL	2. ACQUISITION AND GOODWILL
	Fossil Accessories South Africa Acquisition. On February 1, 2015, the Company closed on a share purchase agreement with S. Keren Watch Group (“SKWG”), by which the Company acquired majority ownership in the Cape Town, South Africa-based distributor for approximately $5.0 million in cash-net of cash acquired, subject to working capital adjustments. SKWG has been a distribution partner for the Company for over 23 years, representing all Fossil brands and most of the Company’s licensed brands in South Africa. Upon execution of the joint venture agreement, SKWG was renamed Fossil Accessories South Africa Pty, Ltd. The Company recorded $3.7 million of goodwill related to the acquisition.
	Goodwill is the excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired and liabilities assumed. The changes in the carrying amount of goodwill, which is not subject to amortization, were as follows (in thousands):
		Americas			Europe			Asia		Total
	Balance at January 3, 2015	$	119,438		$	66,433		$	11,857	$	197,728
	Acquisitions	0			3,711			0		3,711
	Foreign currency changes	(59		)	(5,378		)	38		(5,399		)
	Balance at April 4, 2015	$	119,379		$	64,766		$	11,895	$	196,040

INVENTORIES

INVENTORIES	3 Months Ended
	Apr. 04, 2015
INVENTORIES
INVENTORIES	3. INVENTORIES
	Inventories consisted of the following (in thousands):
		April 4,		January 3,
		2015		2015
	Components and parts	$	42,270	$	48,797
	Work-in-process	10,805		13,719
	Finished goods	577,515		534,765
	Inventories	$	630,590	$	597,281

WARRANTY_LIABILITIES

WARRANTY LIABILITIES	3 Months Ended
	Apr. 04, 2015
WARRANTY LIABILITIES
WARRANTY LIABILITIES	4. WARRANTY LIABILITIES
	Warranty liability activity consisted of the following (in thousands):
		For the 13			For the 14
		Weeks Ended			Weeks Ended
		April 4,			April 5,
		2015			2014
	Beginning balance	$	13,500		$	15,658
	Settlements in cash or kind	(2,102		)	(3,163		)
	Warranties issued and adjustments to preexisting warranties (1)	2,016			3,364
	Liabilities assumed in acquisition	44			0
	Ending balance	$	13,458		$	15,859
	(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, 2015
INCOME TAXES
INCOME TAXES	5. INCOME TAXES
	The Company’s income tax expense and related effective rate were as follows (in thousands, except percentage data):
		For the 13			For the 14
		Weeks Ended			Weeks Ended
		April 4,			April 5,
		2015			2014
	Income tax expense	$	18,524		$	31,480
	Income tax rate	31.3		%	31.3		%
	The lower structural rate in the First Quarter was offset by unfavorable discrete items applied to a lower income base, resulting in the effective tax rate being the same as the effective tax rate in the Prior Year Quarter.
	As of April 4, 2015, the total amount of unrecognized tax benefits, excluding interest and penalties, was $20.9 million, of which $13.2 million would favorably impact the effective tax rate in future periods, if recognized. During the Prior Year Quarter, the U.S. Internal Revenue Service began its examination of the Company’s 2010-2012 federal income tax returns. The Company is subject to examinations in various state and foreign jurisdictions for its 2007-2013 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 paid within twelve months of the condensed consolidated balance sheet date. As of April 4, 2015, the Company had recorded $5.9 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, respectively. The total amount of accrued income tax-related interest and penalties included in the condensed consolidated balance sheets at April 4, 2015 was $2.0 million and $0.4 million, respectively. For the First Quarter, the Company accrued income tax-related interest expense of $0.2 million.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Apr. 04, 2015
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	6. STOCKHOLDERS’ EQUITY
	Common Stock Repurchase Programs. Purchases of the Company’s common stock are made from time to time pursuant to its repurchase programs, subject to market conditions and at prevailing market prices, through the open market. Repurchased shares of common stock are recorded at cost and become authorized but unissued shares which may be issued in the future for general corporate or other purposes. The Company may terminate or limit its stock repurchase program at any time. In the event the repurchased shares are cancelled, the Company accounts for retirements by allocating the repurchase price to common stock, additional paid-in capital and retained earnings. The repurchase price allocation is based upon the equity contribution associated with historical issuances. The repurchase programs are conducted pursuant to Rule 10b-18 of the Securities Exchange Act of 1934.
	During the First Quarter, the Company effectively retired 1.3 million shares of common stock repurchased under its repurchase programs. The effective retirement of repurchased common stock decreased common stock by approximately $13,000, additional paid-in capital by $0.4 million, retained earnings by $114.1 million and treasury stock by $114.5 million. At January 3, 2105 and April 4, 2015, all treasury stock had been effectively retired. As of April 4, 2015, the Company had $944.2 million of repurchase authorizations remaining under its combined repurchase programs.
	The following tables reflect the Company’s common stock repurchase activity for the periods indicated (in millions):
							For the 13 Weeks Ended				For the 14 Weeks Ended
							April 4, 2015				April 5, 2014
	Fiscal Year	Dollar Value			Termination Date		Number of		Dollar Value		Number of	Dollar Value
	Authorized	Authorized					Shares		Repurchased		Shares	Repurchased
							Repurchased				Repurchased
	2014	$	1,000.0		December 2018		1.0		$	85.7	0.0	$	0.0
	2012	$	1,000.0		December 2016	-1	0.3		$	28.8	1.0	$	117.3
	2010	$	30.0		None		0.0		$	0.0	0.0	$	0.0
	(1)  In the First Quarter, we completed this repurchase plan.
	Controlling and Noncontrolling Interest. The following tables summarize the changes in equity attributable to controlling and noncontrolling interest (in thousands):
		Fossil Group, Inc.						Total
		Stockholders’			Noncontrolling			Stockholders’
		Equity			Interest			Equity
	Balance at January 3, 2015	$	977,860		$	5,941		$	983,801
	Net income	38,070			2,568			40,638
	Currency translation adjustment	(33,506		)	0			(33,506		)
	Derivative instruments-net change	61			0			61
	Common stock issued upon exercise of stock options	444			0			444
	Tax expense derived from stock-based compensation	(306		)	0			(306		)
	Distribution of noncontrolling interest earnings	0			(5,056		)	(5,056		)
	Business acquisition	0			5,886			5,886
	Acquisition of common stock	(116,047		)	0			(116,047		)
	Stock-based compensation expense	4,346			0			4,346
	Balance at April 4, 2015	$	870,922		$	9,339		$	880,261
		Fossil Group, Inc.						Total
		Stockholders’			Noncontrolling			Stockholders’
		Equity			Interest			Equity
	Balance at December 28, 2013	$	1,068,677		$	6,690		$	1,075,367
	Net income	66,343			2,818			69,161
	Currency translation adjustment	(1,125		)	0			(1,125		)
	Derivative instruments - net change	239			0			239
	Common stock issued upon exercise of stock options	759			0			759
	Tax benefit derived from stock-based compensation	938			0			938
	Distribution of noncontrolling interest earnings and other.	0			(5,391		)	(5,391		)
	Acquisition of common stock	(119,715		)	0			(119,715		)
	Stock-based compensation expense	4,978			0			4,978
	Balance at April 5, 2014	$	1,021,094		$	4,117		$	1,025,211

EMPLOYEE_BENEFIT_PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Apr. 04, 2015
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	7. EMPLOYEE BENEFIT PLANS
	Stock-Based Compensation Plans. The following table summarizes stock options and stock appreciation rights activity during the First Quarter:
						Weighted-
						Average
				Weighted-		Remaining	Aggregate
				Average		Contractual	Intrinsic
	Stock Options and Stock Appreciation Rights	Shares		Exercise Price		Term	Value
		(in Thousands)				(in Years)	(in Thousands)
	Outstanding at January 3, 2015	663		$	85.08	5.6	$	20,751
	Granted	147		80.22
	Exercised	(19	)	32.11			1,052
	Forfeited or expired	(16	)	111.84
	Outstanding at April 4, 2015	775		84.93		5.8	10,714
	Exercisable at April 4, 2015	551		$	82.9	5.1	$	10,297
	The aggregate intrinsic value shown in the table above is before income taxes and is based on (i) the exercise price for outstanding and exercisable options/rights at April 4, 2015 and (ii) the fair market value of the Company’s common stock on the exercise date for options/rights that were exercised during the First Quarter.
	Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at April 4, 2015:
	Stock Options Outstanding						Stock Options Exercisable
						Weighted-
				Weighted-		Average			Weighted-
				Average		Remaining			Average
	Range of	Number of		Exercise		Contractual	Number of		Exercise
	Exercise Prices	Shares		Price		Term	Shares		Price
		(in Thousands)				(in Years)	(in Thousands)
	$13.65 - $21.51	54		$	15.12	3.3	54		$	15.12
	$30.71 - $67.10	96		36.26		3.7	96		36.26
	$69.53 - $106.40	96		80.86		5.9	94		80.79
	$106.89 - $131.46	166		128.10		6.5	163		128.06
	Total	412		$	80.99	5.3	407		$	80.71
	Stock Appreciation Rights Outstanding						Stock Appreciation Rights Exercisable
						Weighted-
				Weighted-		Average			Weighted-
				Average		Remaining			Average
	Range of	Number of		Exercise		Contractual	Number of		Exercise
	Exercise Prices	Shares		Price		Term	Shares		Price
		(in Thousands)				(in Years)	(in Thousands)
	$13.65 - $21.51	18		$	13.65	2.0	18		$	13.65
	$30.71 - $67.10	17		40.16		2.6	17		38.71
	$69.53 - $106.40	213		84.29		7.1	45		90.52
	$106.89 - $131.46	115		117.80		6.2	64		121.94
	Total	363		$	89.40	6.3	144		$	89.15
	Restricted Stock, Restricted Stock Units and Performance Restricted Stock Units. The following table summarizes restricted stock, restricted stock unit and performance restricted stock unit activity during the First Quarter:
				Weighted-Average
	Restricted Stock, Restricted Stock Units			Grant Date Fair
	and Performance Restricted Stock Units	Number of Shares		Value
		(in Thousands)
	Nonvested at January 3, 2015	255		$	110.17
	Granted	288		80.38
	Vested	(85	)	113.06
	Forfeited	(12	)	110.75
	Nonvested at April 4, 2015	446		$	90.39
	The total fair value of restricted stock and restricted stock units vested during the First Quarter was approximately $6.9 million. Vesting of performance restricted stock units is based on achievement of sales growth and operating margin targets.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Apr. 04, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	8. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
	The following table illustrates changes in the balances of each component of accumulated other comprehensive income (loss), net of taxes (in thousands):
		For the 13 Weeks Ended April 4, 2015
		Currency			Cash Flow Hedges
		Translation			Forward			Interest			Pension			Total
		Adjustments			Contracts			Rate Swaps			Plan
	Beginning balance	$	(27,241	)	$	14,980		$	(502	)	$	(3,647	)	$	(16,410	)
	Other comprehensive income (loss) before reclassifications	(33,506		)	18,760			(7,406		)	0			(22,152		)
	Tax (expense) benefit	0			(6,217		)	2,699			0			(3,518		)
	Amounts reclassed from accumulated other comprehensive income	0			12,439			(681		)	0			11,758
	Tax (expense) benefit	0			(4,231		)	248			0			(3,983		)
	Total other comprehensive income (loss)	(33,506		)	4,335			(4,274		)	0			(33,445		)
	Ending balance	$	(60,747	)	$	19,315		$	(4,776	)	$	(3,647	)	$	(49,855	)
		For the 14 Weeks Ended April 4, 2014
		Currency			Cash Flow Hedges									Net
		Translation			Forward			Interest			Pension			Investment			Total
		Adjustments			Contracts			Rate Swap			Plan			Hedges
	Beginning balance	$	38,152		$	(2,091	)	$	(106	)	$	736		$	0		$	36,691
	Other comprehensive income (loss) before reclassifications	(1,125		)	(266		)	(908		)	0			162			(2,137		)
	Tax (expense) benefit	0			(82		)	370			0			0			288
	Amounts reclassed from accumulated other comprehensive income	0			(828		)	(732		)	0			0			(1,560		)
	Tax (expense) benefit	0			330			267			0			0			597
	Total other comprehensive income (loss)	(1,125		)	150			(73		)	0			162			(886		)
	Ending balance	$	37,027		$	(1,941	)	$	(179	)	$	736		$	162		$	35,805
	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, 2015
SEGMENT INFORMATION
SEGMENT INFORMATION
	9. 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, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan 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. Net sales for geographic segments are based on the location of the selling entity. Operating income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. 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 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.
	Certain reclassifications have been made to prior year amounts to conform with current year presentation.  Due to changes in the Company’s reportable segments as discussed in Note 1 to the condensed consolidated financial statements, segment results for fiscal year 2014 have been recast to present results on a comparable basis.
	Summary information by operating segment was as follows (in thousands):
		For the 13 Weeks Ended					For the 14 Weeks Ended
		April 4, 2015					April 5, 2014
		Net Sales		Operating Income			Net Sales			Operating Income
	Americas	$	366,596	$	76,722		$	382,660		$	99,069
	Europe	234,256		33,302			260,353			52,508
	Asia	124,233		24,308			133,531			30,898
	Corporate			(78,178		)				(77,777		)
	Consolidated	$	725,085	$	56,154		$	776,544		$	104,698
		April 4, 2015					January 3, 2015
		Long-Term Assets		Total Assets			Long-Term Assets			Total Assets
	Americas	$	263,887	$	765,691		$	263,324		$	809,548
	Europe	202,704		470,671			220,742			561,486
	Asia	56,670		222,387			57,508			233,881
	Corporate	174,880		584,716			176,124			602,637
	Total	$	698,141	$	2,043,465		$	717,698		$	2,207,552
	The following tables reflect net sales for each class of similar products in the periods presented (in thousands, except percentage data):
		For the 13 Weeks Ended				For the 14 Weeks Ended
		April 4, 2015				April 5, 2014
		Net Sales		Percentage of Total		Net Sales			Percentage of Total
	Watches	$	551,857	76.1	%	$	601,388		77.5	%
	Leathers	92,926		12.8		99,722			12.8
	Jewelry	62,987		8.7		56,518			7.3
	Other	17,315		2.4		18,916			2.4
	Total	$	725,085	100.0	%	$	776,544		100.0	%

DERIVATIVES_AND_RISK_MANAGEMEN

DERIVATIVES AND RISK MANAGEMENT

3 Months Ended

Apr. 04, 2015

DERIVATIVES AND RISK MANAGEMENT

DERIVATIVES AND RISK MANAGEMENT

10. 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 18 months. The Company enters into foreign currency forward contracts (“forward contracts”) generally for up to 65% of the forecasted purchases to manage fluctuations in global currencies that will ultimately be used to settle such U.S. dollar denominated inventory purchases. 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 intercompany 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 inter-entity 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.

For a derivative instrument that is designated and qualifies as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss), net of taxes and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures being hedged, the Company’s hedges resulted in no ineffectiveness in the condensed consolidated statements of income and comprehensive income, and there were no components excluded from the assessment of hedge effectiveness for the First Quarter or Prior Year Quarter.

All derivative instruments are recognized as either assets or liabilities at fair value in the condensed consolidated balance sheets. 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 sheet until such derivative’s gains or losses become realized or the cash flow hedge relationship is terminated. If the cash flow hedge relationship is terminated, the derivative’s gains or losses that are recorded in accumulated other comprehensive income (loss) will be recognized in earnings when the hedged cash flows occur. However, for cash flow hedges that are terminated because the forecasted transaction is not expected to occur in the original specified time period, the derivative’s gains or losses 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. Hedge accounting is discontinued if it is determined that the derivative is not highly effective. 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.

As of April 4, 2015, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in millions):

Functional Currency

Contract Currency

Type

Amount

Type

Amount

Euro

174.1

U.S. dollar

217.6

British pound

27.5

U.S. dollar

43.5

Canadian dollar

40.1

U.S. dollar

34.3

Japanese yen

2,935.0

U.S. dollar

26.4

Mexican peso

173.3

U.S. dollar

12.0

Australian dollar

14.2

U.S. dollar

11.5

The Company is also exposed to interest rate risk related to both its outstanding debt and forecasted debt issuances. To manage the interest rate risk related to its $231.3 million U.S.-based term loan, as amended on March 9, 2015 (“Term Loan”), the Company entered into an interest rate swap agreement on July 26, 2013 with a term of approximately five years. The objective of this hedge is to offset the variability of future payments associated with interest rates on the Term Loan. The interest rate swap agreement hedges the 1-month London Interbank Offer Rate (“LIBOR”) based variable rate debt obligations under the Term Loan. Under the terms of the swap, the Company pays a fixed interest rate of 1.288% per annum to the swap counterparty plus the LIBOR rate applicable margin (which varies based upon the Ratio from 1.25% if the Ratio is less than 1.00 to 1.00, to 2.00% if the Ratio is greater than or equal to 2.00 to 1.00). The notional amount will amortize over the remaining life of the Term Loan to coincide with the amortization of the underlying loan. The Company will receive interest from the swap counterparty at a variable rate based on 1-month LIBOR. This hedge is designated as a cash flow hedge. Additionally, to manage interest rate risk related to forecasted debt issuances, the Company entered into a forward starting interest rate swap agreement on March 20, 2015 with a term of approximately 10 years. The objective of this hedge is to offset the variability of future interest payments associated with forecasted debt issuances. Under the terms of the swap, the Company pays a fixed interest rate of 2.14% per annum to the swap counterparty. This hedge is designated as a cash flow hedge.

Net Investment Hedge. The Company is also exposed to risk that adverse changes in foreign currency exchange rates could impact its net investment in foreign operations. To manage this risk, during the first quarter of fiscal year 2014, the Company entered into a forward contract designated as a net investment hedge to reduce exposure to changes in currency exchange rates on €25.0 million of its total investment in a wholly-owned euro-denominated foreign subsidiary. The hedge was settled in the second quarter of fiscal year 2014. The effective portion of derivatives designated as net investment hedges are recorded at fair value at each balance sheet date and the change in fair value is recorded as a component of other comprehensive income (loss) in the Company’s condensed consolidated statements of income and comprehensive income. The Company uses the hypothetical derivative method to assess the ineffectiveness of net investment hedges. Should any portion of a net investment hedge become ineffective, the ineffective portion will be reclassified to other income-net on the Company’s condensed consolidated statements of income and comprehensive income. Gains and losses reported in accumulated other comprehensive income (loss) will not be reclassified into earnings until the Company’s underlying investment is liquidated or dissolved.

Non-designated Hedges. The Company also periodically enters into forward contracts to manage exchange rate risks associated with certain non-inventory intercompany transactions and to which the Company does not elect hedge treatment. All of the Company’s outstanding forward contracts were designated as hedging instruments as of April 4, 2015 and January 3, 2015. Changes in the fair value of derivatives not designated as hedging instruments are recognized in earnings when they occur.

The effective portion of gains and losses on derivative instruments 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 13

For the 14

Weeks Ended

Weeks Ended

April 4, 2015

April 5, 2014

Cash flow hedges:

Forward contracts

$

12,543

$

(348

)

Interest rate swaps

(4,707

)

(538

)

Net investment hedge:

Forward contract

0

162

Total gain (loss) recognized in other comprehensive income (loss), net of taxes

$

7,836

$

(724

)

The following table illustrates the effective portion of gains and losses on derivative instruments recorded in 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):

Condensed Consolidated

Statements of Income

For the 13

For the 14

and Comprehensive

Effect of Derivative

Weeks Ended

Weeks Ended

Derivatives Instruments

Income Location

Instruments

April 4, 2015

April 5, 2014

Forward contracts designated as cash flow hedging instruments

Other income (expense)-net

Total gain (loss) reclassified from other comprehensive income (loss)

$

8,208

$

(498

)

Forward contracts not designated as hedging instruments

Other income (expense)-net

Total gain (loss) recognized in income

$

89

$

(148

)

Interest rate swap designated as a cash flow hedging instrument

Interest expense

Total gain (loss) reclassified from other comprehensive income (loss)

$

(433

)

$

(465

)

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, 2015

January 3, 2015

April 4, 2015

January 3, 2015

Condensed

Condensed

Condensed

Condensed

Consolidated

Consolidated

Consolidated

Consolidated

Balance Sheets

Fair

Balance Sheets

Fair

Balance Sheets

Fair

Balance Sheets

Fair

Derivatives Instruments

Location

Value

Location

Value

Location

Value

Location

Value

Forward contracts designated as cash flow hedging instruments

Prepaid expenses and other current assets

$

32,927

Prepaid expenses and other current assets

$

25,867

Accrued expenses- other

$

373

Accrued expenses- other

$

0

Interest rate swap designated as a cash flow hedging instrument

Prepaid expenses and other current assets

0

Prepaid expenses and other current assets

0

Accrued expenses- other

7,059

Accrued expenses- other

2,157

Forward contracts designated as cash flow hedging instruments

Intangible and other assets-net

1,155

Intangible and other assets-net

1,802

Other long-term liabilities

133

Other long-term liabilities

0

Interest rate swap designated as a cash flow hedging instrument

Intangible and other assets-net

343

Intangible and other assets-net

1,724

Other long-term liabilities

799

Other long-term liabilities

357

Total

$

34,425

$

29,393

$

8,364

$

2,514

At the end of the First Quarter, the Company had forward contracts with maturities extending through September 2016. As of April 4, 2015, an estimated net gain of $21.3 million is expected to be reclassified into earnings within the next twelve months at prevailing foreign currency exchange rates. See “Note 1—Financial Statement Policies” for additional disclosures on foreign currency hedging instruments.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Apr. 04, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	11. 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, 2015 (in thousands):
			Fair Value at April 4, 2015
			Level 1		Level 2		Level 3		Total
	Assets:
	Forward contracts		$	0	$	34,082	$	0	$	34,082
	Deferred compensation plan assets:
	Investment in publicly traded mutual funds		2,510		0		0		2,510
	Interest rate swaps		0		343		0		343
	Total		$	2,510	$	34,425	$	0	$	36,935
	Liabilities:
	Contingent consideration		$	0	$	0	$	6,878	$	6,878
	Forward contracts		0		506		0		506
	Interest rate swaps		0		7,858		0		7,858
	Total		$	0	$	8,364	$	6,878	$	15,242
	The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of January 3, 2015 (in thousands):
			Fair Value at January 3, 2015
			Level 1		Level 2		Level 3		Total
	Assets:
	Forward contracts		$	0	$	27,669	$	0	$	27,669
	Deferred compensation plan assets:
	Investment in publicly traded mutual funds		2,477		0		0		2,477
	Interest rate swap		0		1,724		0		1,724
	Total		$	2,477	$	29,393	$	0	$	31,870
	Liabilities:
	Contingent consideration		$	0	$	0	$	7,114	$	7,114
	Interest rate swap		0		2,514		0		2,514
	Total		$	0	$	2,514	$	7,114	$	9,628
	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.  The fair values of the interest rate swap assets and liabilities are determined using valuation models based on market observable inputs, including forward curves, mid market price and volatility levels. See “Note 10—Derivatives and Risk Management” for additional disclosures about the interest rate swaps and forward contracts.
	The Company has evaluated its short-term and long-term debt as of April 4, 2015 and January 3, 2015 and believes, based on the interest rates, related terms and maturities, that the fair values of such instruments approximated their carrying amounts. As of April 4, 2015 and January 3, 2015, the carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximated their values due to the short-term maturities of these accounts.
	The fair value of the contingent consideration liability related to the acquisition of the Company’s joint venture company, Fossil, S.L. (“Fossil Spain”), was determined using Level 3 inputs. The contingent consideration recorded as of April 4, 2015 is based on Fossil Spain’s earnings for fiscal year 2014 and forecasted earnings for fiscal year 2015. The contingent consideration for calendar year 2014 will be paid during the remaining part of fiscal year 2015. The contingent consideration for calendar year 2015 will be paid upon the execution of the purchase agreement in 2016. The fair value of the contingent consideration was determined using present value techniques with forecasted future cash flows for Fossil Spain as the significant unobservable input. Future revenue growth based on management’s projections for the 2015 calendar year is approximately 17%. Operating expenses are projected to be approximately 25% of revenues for calendar year 2015. A discount rate of 19% was used to calculate the present value of the contingent consideration. The contingent consideration liability for calendar year 2014 is valued at 3.4 million euros (approximately $3.7 million) and the contingent consideration liability for calendar year 2015 is valued at the maximum annual variable price of 3.5 million euros (approximately $3.8 million). A decrease in future cash flows may result in a lower estimated fair value of the calendar year 2015 contingent consideration liability. Future changes in the estimated fair value of the contingent consideration liability, if any, will be reflected in earnings.
	In accordance with the provisions of ASC 360, Property, Plant and Equipment, property, plant and equipment—net with a carrying amount of $1.2 million, as of April 4, 2015, related to retail store leasehold improvements and fixturing was fully impaired, and related key money in the amount of $0.1 million was deemed not recoverable, resulting in an impairment charge of $1.3 million for the First Quarter.
	The fair values of assets related to the Company-owned retail stores were determined using Level 3 inputs. $1.0 million of the impairment expense was recorded in the Europe segment and $0.3 million was recorded in the Americas segment in SG&A.

INTANGIBLE_AND_OTHER_ASSETS

INTANGIBLE AND OTHER ASSETS	3 Months Ended
	Apr. 04, 2015
INTANGIBLE AND OTHER ASSETS
INTANGIBLE AND OTHER ASSETS	12. INTANGIBLE AND OTHER ASSETS
	The following table summarizes intangible and other assets (in thousands):
				April 4, 2015				January 3, 2015
		Useful		Gross		Accumulated		Gross		Accumulated
	At Fiscal Year End	Lives		Amount		Amortization		Amount		Amortization
	Intangibles-subject to amortization:
	Trademarks	10 yrs.		$	4,175	$	3,013	$	4,174	$	2,950
	Customer lists	5-10 yrs.		43,461		17,987		41,703		17,457
	Patents	3-20 yrs.		2,273		2,037		2,273		1,902
	Noncompete agreement	6 yrs.		1,816		908		1,855		851
	Other	7-20 yrs.		501		394		353		341
	Total intangibles-subject to amortization			52,226		24,339		50,358		23,501
	Intangibles-not subject to amortization:
	Trade names			83,627				83,610
	Other assets:
	Key money deposits			29,438		18,107		31,892		18,661
	Other deposits			22,182				21,854
	Deferred compensation plan assets			2,510				2,477
	Deferred tax asset-net			7,581				8,583
	Restricted cash			522				575
	Shop-in-shop			14,807		10,267		16,333		9,660
	Interest rate swap			343				1,724
	Forward contracts			1,155				1,802
	Other			8,758				6,978
	Total other assets			87,296		28,374		92,218		28,321
	Total intangible and other assets			$	223,149	$	52,713	$	226,186	$	51,822
	Total intangible and other assets-net					$	170,436			$	174,364
	Key money is the amount of funds paid to a landlord or tenant to acquire the rights of tenancy under a commercial property lease for a certain property. Key money represents the “right to lease” with an automatic right of renewal. This right can be subsequently sold by the Company or can be recovered should the landlord refuse to allow the automatic right of renewal to be exercised. Key money is amortized over the initial lease term, which ranges from approximately four to 18 years.
	Amortization expense for intangible assets was approximately $1.2 million and $1.3 million for the First Quarter and Prior Year Quarter. Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands):
	Fiscal Year	Amortization
		Expense
	2015 (remaining)	$	3,751
	2016	$	4,880
	2017	$	4,621
	2018	$	4,267
	2019	$	4,172
	2020	$	3,674

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Apr. 04, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES
	Litigation. The Company is occasionally subject to litigation or other legal proceedings in the normal course of its business. The Company does not believe that the outcome of any currently pending legal matters, individually or collectively, will have a material effect on the business or financial condition of the Company.
	Operating lease obligations.  As of April 4, 2015, the Company had operating lease obligations of approximately $886.7 million. The Company recognized rent expense of $49.0 million and $44.4 million during the First Quarter and Prior Year Quarter, respectively.

DEBT_ACTIVITY

DEBT ACTIVITY	3 Months Ended
	Apr. 04, 2015
DEBT ACTIVITY
DEBT ACTIVITY	14. DEBT ACTIVITY
	On March 9, 2015, the Company entered into an Amended and Restated Credit Agreement (the “Credit Agreement”). The Credit Agreement provides for (i) revolving credit loans in the amount of $1.05 billion (the “Revolving Credit Facility”), with an up to $20.0 million subfacility for swingline loans (the “Swingline Loan”), and an up to $10.0 million subfacility for letters of credit, and (ii) a term loan in the amount of $231.3 million (the “Term Loan”). The Credit Agreement expires and is due and payable on May 17, 2018.
	The Company’s obligations under the Credit Agreement are unsecured, and none of the Company’s subsidiaries are guarantors of the Company’s obligations under the Credit Agreement. Upon the occurrence of both (a) the Moody’s Investor Service, Inc. rating of the Company falling below Ba1 and (b) the Standard & Poor’s Financial Services LLC rating of the Company falling below BB+, the Company’s obligations under the Credit Agreement will be required to be guaranteed by all direct and indirect material domestic subsidiaries of the Company, as provided in a subsidiary guaranty agreement, and secured by 65% of the total outstanding voting capital stock and 100% of the non-voting capital stock of the Company’s material first-tier foreign subsidiaries, pursuant to a pledge agreement. The Credit Agreement may be used (a) to refinance the indebtedness under the Prior Agreement (as defined below), (b) to finance the acquisition of capital assets, (c) for ongoing working capital and other general corporate purposes, and (d) to repurchase the Company’s capital stock to the extent permitted under the Credit Agreement.
	The Credit Agreement amends and restates that certain credit agreement, dated as of May 17, 2013, as amended, which was scheduled to mature on May 17, 2018 (the “Prior Agreement”). Under the Prior Agreement, the Company incurred approximately $1.6 million and $1.0 million of interest expense during the First Quarter related to outstanding revolving credit loans and term loans, respectively, including the impact of the related interest rate swap, respectively. As of March 9, 2015, the Company had $555.0 million in aggregate principal amount of revolving credit loans outstanding and $231.3 million in aggregate principal amount of term loans outstanding under the Prior Agreement, all of which was refinanced on March 9, 2015 with borrowings under the Credit Agreement. No penalties or other early termination fees were incurred in connection with the amendment and restatement of the Prior Agreement.
	Amounts outstanding under the Revolving Credit Facility and the Term Loan under the Credit Agreement bear interest, at the Company’s option, at (i) the base rate (defined as the highest of (a) the prime rate publicly announced by Wells Fargo, (b) the federal funds rate plus 0.5%, and (c) LIBOR for an interest period of one month plus 1.0%) plus the base rate applicable margin (which varies, based upon the Company’s consolidated total leverage ratio, from 0.25%, if the consolidated total leverage ratio is less than 1.00 to 1.00, to 1.00%, if the consolidated total leverage ratio is greater than or equal to 2.00 to 1.00) or (ii) the LIBOR rate (defined as the quotient obtained by dividing (a) LIBOR by (b) 1.00 minus the Eurodollar reserve percentage) plus the LIBOR rate applicable margin (which varies, based upon the consolidated total leverage ratio, from 1.25%, if the consolidated total leverage ratio is less than 1.00 to 1.00, to 2.00%, if the consolidated total leverage ratio is greater than or equal to 2.00 to 1.00). Amounts outstanding under the Swingline Loan under the Credit Agreement or upon any drawing under a letter of credit bear interest at the base rate plus the applicable margin. Interest based upon the base rate is payable quarterly in arrears. Interest based upon the LIBOR rate is payable on the last day of the applicable interest period.
	Financial covenants governing the Credit Agreement require the Company to maintain (i) a consolidated total leverage ratio no greater than 2.50 to 1.00 and (ii) a consolidated interest coverage ratio no less than 3.50 to 1.00. The Credit Agreement contains representations, warranties, covenants, events of default and indemnities that are customary for agreements of this type.
	The Company is required to pay a commitment fee on the unused amounts of the commitments under the Revolving Credit Facility under the Credit Agreement, payable quarterly in arrears, ranging from 0.20% to 0.35%, based on the consolidated total leverage ratio. In connection with any letter of credit, the Company is required to pay (i) a letter of credit commission, payable quarterly in arrears, in an amount equal to the daily amount available to be drawn under such letter of credit multiplied by the applicable margin with respect to revolving credit loans that are LIBOR rate loans, (ii) a fronting fee, payable quarterly in arrears, as set forth in the applicable letter of credit application or as otherwise separately agreed by the Company and the issuing lender, and (iii) normal and customary costs and expenses incurred or charged by the issuing lender in issuing, effecting payment under, amending or otherwise administering the letter of credit.
	Loans under the Credit Agreement may be prepaid, in whole or in part, at the option of the Company, in minimum principal amounts of (i) $2.0 million or increments of $1.0 million in excess thereof, with respect to a base rate loan under the Revolving Credit Facility, (ii) $5.0 million or increments of $1.0 million in excess thereof, with respect to a LIBOR rate loan under the Revolving Credit Facility, (iii) $5.0 million or increments of $1.0 million in excess thereof, with respect to the Term Loan, and (iv) $0.1 million or increments of $0.1 million in excess thereof, with respect to a Swingline Loan. Loans under the Credit Agreement must be repaid with the net cash proceeds of certain asset sales or insurance and condemnation events. The Company may permanently reduce the revolving credit commitment at any time, in whole or in part, without premium or penalty, in a minimum aggregate principal amount of not less than $3.0 million or increments of $1.0 million in excess thereof.
	The repayment obligation under the Credit Agreement can be accelerated upon the occurrence of an event of default, including the failure to pay principal or interest, a material inaccuracy of a representation or warranty, violation of covenants, cross-default, change in control, bankruptcy events, failure of a loan document provision, certain ERISA events and material judgments.
	The Company made net principal payments of $3.1 million under its current Term Loan and term loan under the Prior Credit Agreement during the First Quarter. The Company had net borrowings of $18.0 million under its current Revolving Credit Facility and revolving credit loans under the Prior Credit Agreement during the First Quarter. Borrowings were primarily used to fund stock repurchases, capital and normal operating expenses. As of April 4, 2015, $228.1 million and $407.0 million were outstanding under the Term Loan and the Revolving Credit Facility, respectively. Amounts available under the Revolving Credit Facility are reduced by any amounts outstanding under standby letters of credit. As of April 4, 2015, the Company had available borrowing capacity of approximately $642.1 million under the Revolving Credit Facility. The Company incurred approximately $0.6 million of interest expense related to the Term Loan during the First Quarter, including the impact of the related interest rate swap. The Company incurred approximately $0.6 million of interest expense related to the Revolving Credit Facility during the First Quarter. The Company was in compliance with all covenants in the Term Loan and Revolving Credit Facility as of April 4, 2015.

FINANCIAL_STATEMENT_POLICIES_P

FINANCIAL STATEMENT POLICIES (Policies)	3 Months Ended
	Apr. 04, 2015
FINANCIAL STATEMENT POLICIES
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 prior fiscal year ending January 3, 2015 was a 53-week year, with the additional week included in the first quarter. Accordingly, the information presented herein includes thirteen weeks of operations for the quarter ended April 4, 2015 (“First Quarter”) as compared to fourteen weeks included in the quarter ended April 5, 2014 (“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, 2015, and the results of operations for the First Quarter and Prior Year Quarter. All adjustments are of a normal, recurring nature.
	Effective during the First Quarter, the Company made changes to the presentation of its reportable segments to reflect changes in the way its chief operating decision maker evaluates the performance of its operations, develops strategy and allocates capital resources. The Company has realigned its operating structure. Strategic and brand directions are set centrally and regional management is now fully empowered and responsible to drive those strategies and brand directions across all brands and channels within their regions. As part of the new operating structure the regional teams manage both the wholesale and retail businesses within their regions whereas previously the retail business was managed globally. Additionally, with the implementation of new reporting systems, the Company has the ability to extract discrete financial information that aligns with its operating structure and is consistent with how management now evaluates the business performance. The Company’s reportable segments now consist of the following: (i) Americas, (ii) Europe and (iii) Asia. Prior to the First Quarter 2015 Form 10-Q, as reported in the 2014 Form 10-K, the Company’s reportable segments consisted of the following: (i) North America wholesale, (ii) Europe wholesale, (iii) Asia Pacific wholesale and (iv) Direct to consumer.
	These changes to the Company’s reportable segments include the following:
		-1		Reclassification of the Company’s retail, e-commerce and catalog activities, all of which were previously recorded within the Company’s Direct to consumer segment, to the Americas, Europe and Asia segments based on the geographic location of the activities.
		-2		The Company’s wholesale operations in North America, Europe and Asia Pacific previously recorded within the North America wholesale, Europe wholesale and Asia Pacific wholesale segments, respectively, have been reclassified to the Americas, Europe and Asia segments, respectively.
		-3		Intercompany profit attributable to the Company’s factory operations was previously included in the Asia Pacific wholesale and Europe wholesale segments in accordance with the geographic location of the factories, and is now eliminated from all reporting segments.
		-4		Certain corporate costs are not allocated to the various segments because they are managed at the corporate level for internal purposes. Prior to the change in reporting segments, these expenses included, and after the change in reporting segments, continue to include, general corporate expenses, including certain administrative, legal, accounting, technology support costs, equity compensation costs, and payroll costs attributable to executive management. Additionally, certain brand management, product development, art, creative/product design, marketing and back office supply chain expenses which were previously included in North America wholesale, Europe wholesale, Asia Pacific wholesale and Direct to consumer segments prior to the change in reporting segments are now reported in corporate. Conversely, certain back office costs reported in corporate prior to the change in reporting segments are now included in the various reporting segments in which they are now managed.
	The Company’s historical segment disclosures have been recast to be consistent with the current presentation.
	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 January 3, 2015 (the “2014 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 2014 Form 10-K. Certain prior year amounts have been reclassified to conform to the current year presentation.
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, sunglasses, soft accessories and select apparel. 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.
Hedging Instruments	Hedging Instruments. The Company is exposed to certain market risks relating to foreign exchange rates and interest rates. The Company actively monitors and attempts to manage these exposures using derivative instruments including foreign currency forward contracts and interest rate swaps. The Company’s foreign subsidiaries periodically enter into foreign exchange forward contracts to hedge the future payment of intercompany inventory transactions denominated in U.S. dollars. If the Company was to settle its euro, British pound, Canadian dollar, Japanese yen, Australian dollar, and Mexican peso forward contracts as of April 4, 2015, the net result would have been a net gain of approximately $21.9 million, net of taxes. To help protect against adverse existing and forecasted fluctuations in interest rates, the Company has entered into interest rate swap agreements to effectively convert portions of its existing and forecasted variable rate debt obligations to fixed rates. To reduce exposure to changes in currency exchange rates adversely affecting the Company’s investment in a euro-denominated subsidiary, the Company entered into a forward contract designated as a net investment hedge that was settled during the second quarter of fiscal year 2014. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. See “Note 10—Derivatives and Risk Management” for additional disclosures about the Company’s use of derivatives.
Operating expenses
	Operating expenses. Operating expenses include selling, general and administrative expenses (“SG&A”), 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 and store closures.
Earnings Per Share ("EPS")	Earnings 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 13		For the 14
			Weeks Ended		Weeks Ended
			April 4,		April 5,
			2015		2014
	Numerator:
	Net income attributable to Fossil Group, Inc.		$	38,070	$	66,343
	Denominator:
	Basic EPS computation:
	Basic weighted average common shares outstanding		50,294		54,125
	Basic EPS		$	0.76	$	1.23
	Diluted EPS computation:
	Basic weighted average common shares outstanding		50,294		54,125
	Effect of stock options, stock appreciation rights, restricted stock units and performance restricted stock units		173		226
	Diluted weighted average common shares outstanding		50,467		54,351
	Diluted EPS		$	0.75	$	1.22
	Approximately 352,400 and 273,400 weighted average common shares issuable under stock-based awards were not included in the diluted EPS calculation at the end of the First Quarter and Prior Year Quarter, respectively, because they were antidilutive.

FINANCIAL_STATEMENT_POLICIES_T

FINANCIAL STATEMENT POLICIES (Tables)	3 Months Ended
	Apr. 04, 2015
FINANCIAL STATEMENT POLICIES
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 13		For the 14
		Weeks Ended		Weeks Ended
		April 4,		April 5,
		2015		2014
	Numerator:
	Net income attributable to Fossil Group, Inc.	$	38,070	$	66,343
	Denominator:
	Basic EPS computation:
	Basic weighted average common shares outstanding	50,294		54,125
	Basic EPS	$	0.76	$	1.23
	Diluted EPS computation:
	Basic weighted average common shares outstanding	50,294		54,125
	Effect of stock options, stock appreciation rights, restricted stock units and performance restricted stock units	173		226
	Diluted weighted average common shares outstanding	50,467		54,351
	Diluted EPS	$	0.75	$	1.22

ACQUISITION_AND_GOODWILL_Table

ACQUISITION AND GOODWILL (Tables)	3 Months Ended
	Apr. 04, 2015
ACQUISITION AND GOODWILL
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill, which is not subject to amortization, were as follows (in thousands):
		Americas			Europe			Asia		Total
	Balance at January 3, 2015	$	119,438		$	66,433		$	11,857	$	197,728
	Acquisitions	0			3,711			0		3,711
	Foreign currency changes	(59		)	(5,378		)	38		(5,399		)
	Balance at April 4, 2015	$	119,379		$	64,766		$	11,895	$	196,040

INVENTORIES_Tables

INVENTORIES (Tables)	3 Months Ended
	Apr. 04, 2015
INVENTORIES
Schedule of inventories	Inventories consisted of the following (in thousands):
		April 4,		January 3,
		2015		2015
	Components and parts	$	42,270	$	48,797
	Work-in-process	10,805		13,719
	Finished goods	577,515		534,765
	Inventories	$	630,590	$	597,281

WARRANTY_LIABILITIES_Tables

WARRANTY LIABILITIES (Tables)	3 Months Ended
	Apr. 04, 2015
WARRANTY LIABILITIES
Schedule of warranty liability activity	Warranty liability activity consisted of the following (in thousands):
		For the 13			For the 14
		Weeks Ended			Weeks Ended
		April 4,			April 5,
		2015			2014
	Beginning balance	$	13,500		$	15,658
	Settlements in cash or kind	(2,102		)	(3,163		)
	Warranties issued and adjustments to preexisting warranties (1)	2,016			3,364
	Liabilities assumed in acquisition	44			0
	Ending balance	$	13,458		$	15,859
	(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, 2015
INCOME TAXES
Schedule of income tax expense and related effective rate	The Company’s income tax expense and related effective rate were as follows (in thousands, except percentage data):
		For the 13			For the 14
		Weeks Ended			Weeks Ended
		April 4,			April 5,
		2015			2014
	Income tax expense	$	18,524		$	31,480
	Income tax rate	31.3		%	31.3		%

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Apr. 04, 2015
STOCKHOLDERS' EQUITY
Schedule of common stock repurchase activity	The following tables reflect the Company’s common stock repurchase activity for the periods indicated (in millions):
							For the 13 Weeks Ended				For the 14 Weeks Ended
							April 4, 2015				April 5, 2014
	Fiscal Year	Dollar Value			Termination Date		Number of		Dollar Value		Number of	Dollar Value
	Authorized	Authorized					Shares		Repurchased		Shares	Repurchased
							Repurchased				Repurchased
	2014	$	1,000.0		December 2018		1.0		$	85.7	0.0	$	0.0
	2012	$	1,000.0		December 2016	-1	0.3		$	28.8	1.0	$	117.3
	2010	$	30.0		None		0.0		$	0.0	0.0	$	0.0
	(1)  In the First Quarter, we completed this repurchase plan.
Summary of changes in equity attributable to controlling and noncontrolling interest	The following tables summarize the changes in equity attributable to controlling and noncontrolling interest (in thousands):
		Fossil Group, Inc.						Total
		Stockholders’			Noncontrolling			Stockholders’
		Equity			Interest			Equity
	Balance at January 3, 2015	$	977,860		$	5,941		$	983,801
	Net income	38,070			2,568			40,638
	Currency translation adjustment	(33,506		)	0			(33,506		)
	Derivative instruments-net change	61			0			61
	Common stock issued upon exercise of stock options	444			0			444
	Tax expense derived from stock-based compensation	(306		)	0			(306		)
	Distribution of noncontrolling interest earnings	0			(5,056		)	(5,056		)
	Business acquisition	0			5,886			5,886
	Acquisition of common stock	(116,047		)	0			(116,047		)
	Stock-based compensation expense	4,346			0			4,346
	Balance at April 4, 2015	$	870,922		$	9,339		$	880,261
		Fossil Group, Inc.						Total
		Stockholders’			Noncontrolling			Stockholders’
		Equity			Interest			Equity
	Balance at December 28, 2013	$	1,068,677		$	6,690		$	1,075,367
	Net income	66,343			2,818			69,161
	Currency translation adjustment	(1,125		)	0			(1,125		)
	Derivative instruments - net change	239			0			239
	Common stock issued upon exercise of stock options	759			0			759
	Tax benefit derived from stock-based compensation	938			0			938
	Distribution of noncontrolling interest earnings and other.	0			(5,391		)	(5,391		)
	Acquisition of common stock	(119,715		)	0			(119,715		)
	Stock-based compensation expense	4,978			0			4,978
	Balance at April 5, 2014	$	1,021,094		$	4,117		$	1,025,211

EMPLOYEE_BENEFIT_PLANS_Tables

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Apr. 04, 2015
EMPLOYEE BENEFIT PLANS
Summary of stock options and stock appreciation rights activity	The following table summarizes stock options and stock appreciation rights activity during the First Quarter:
						Weighted-
						Average
				Weighted-		Remaining	Aggregate
				Average		Contractual	Intrinsic
	Stock Options and Stock Appreciation Rights	Shares		Exercise Price		Term	Value
		(in Thousands)				(in Years)	(in Thousands)
	Outstanding at January 3, 2015	663		$	85.08	5.6	$	20,751
	Granted	147		80.22
	Exercised	(19	)	32.11			1,052
	Forfeited or expired	(16	)	111.84
	Outstanding at April 4, 2015	775		84.93		5.8	10,714
	Exercisable at April 4, 2015	551		$	82.9	5.1	$	10,297
Summary of stock options and stock appreciation rights outstanding and exercisable	The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at April 4, 2015:
	Stock Options Outstanding						Stock Options Exercisable
						Weighted-
				Weighted-		Average			Weighted-
				Average		Remaining			Average
	Range of	Number of		Exercise		Contractual	Number of		Exercise
	Exercise Prices	Shares		Price		Term	Shares		Price
		(in Thousands)				(in Years)	(in Thousands)
	$13.65 - $21.51	54		$	15.12	3.3	54		$	15.12
	$30.71 - $67.10	96		36.26		3.7	96		36.26
	$69.53 - $106.40	96		80.86		5.9	94		80.79
	$106.89 - $131.46	166		128.10		6.5	163		128.06
	Total	412		$	80.99	5.3	407		$	80.71
	Stock Appreciation Rights Outstanding						Stock Appreciation Rights Exercisable
						Weighted-
				Weighted-		Average			Weighted-
				Average		Remaining			Average
	Range of	Number of		Exercise		Contractual	Number of		Exercise
	Exercise Prices	Shares		Price		Term	Shares		Price
		(in Thousands)				(in Years)	(in Thousands)
	$13.65 - $21.51	18		$	13.65	2.0	18		$	13.65
	$30.71 - $67.10	17		40.16		2.6	17		38.71
	$69.53 - $106.40	213		84.29		7.1	45		90.52
	$106.89 - $131.46	115		117.80		6.2	64		121.94
	Total	363		$	89.40	6.3	144		$	89.15
Summary of restricted stock, restricted stock units and performance restricted stock units activity
	The following table summarizes restricted stock, restricted stock unit and performance restricted stock unit activity during the First Quarter:
				Weighted-Average
	Restricted Stock, Restricted Stock Units			Grant Date Fair
	and Performance Restricted Stock Units	Number of Shares		Value
		(in Thousands)
	Nonvested at January 3, 2015	255		$	110.17
	Granted	288		80.38
	Vested	(85	)	113.06
	Forfeited	(12	)	110.75
	Nonvested at April 4, 2015	446		$	90.39

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Apr. 04, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of changes in the balances of each component of accumulated other comprehensive income, net of taxes	The following table illustrates changes in the balances of each component of accumulated other comprehensive income (loss), net of taxes (in thousands):
		For the 13 Weeks Ended April 4, 2015
		Currency			Cash Flow Hedges
		Translation			Forward			Interest			Pension			Total
		Adjustments			Contracts			Rate Swaps			Plan
	Beginning balance	$	(27,241	)	$	14,980		$	(502	)	$	(3,647	)	$	(16,410	)
	Other comprehensive income (loss) before reclassifications	(33,506		)	18,760			(7,406		)	0			(22,152		)
	Tax (expense) benefit	0			(6,217		)	2,699			0			(3,518		)
	Amounts reclassed from accumulated other comprehensive income	0			12,439			(681		)	0			11,758
	Tax (expense) benefit	0			(4,231		)	248			0			(3,983		)
	Total other comprehensive income (loss)	(33,506		)	4,335			(4,274		)	0			(33,445		)
	Ending balance	$	(60,747	)	$	19,315		$	(4,776	)	$	(3,647	)	$	(49,855	)
		For the 14 Weeks Ended April 4, 2014
		Currency			Cash Flow Hedges									Net
		Translation			Forward			Interest			Pension			Investment			Total
		Adjustments			Contracts			Rate Swap			Plan			Hedges
	Beginning balance	$	38,152		$	(2,091	)	$	(106	)	$	736		$	0		$	36,691
	Other comprehensive income (loss) before reclassifications	(1,125		)	(266		)	(908		)	0			162			(2,137		)
	Tax (expense) benefit	0			(82		)	370			0			0			288
	Amounts reclassed from accumulated other comprehensive income	0			(828		)	(732		)	0			0			(1,560		)
	Tax (expense) benefit	0			330			267			0			0			597
	Total other comprehensive income (loss)	(1,125		)	150			(73		)	0			162			(886		)
	Ending balance	$	37,027		$	(1,941	)	$	(179	)	$	736		$	162		$	35,805

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Apr. 04, 2015
SEGMENT INFORMATION
Summary information by operating segment	Summary information by operating segment was as follows (in thousands):
		For the 13 Weeks Ended					For the 14 Weeks Ended
		April 4, 2015					April 5, 2014
		Net Sales		Operating Income			Net Sales			Operating Income
	Americas	$	366,596	$	76,722		$	382,660		$	99,069
	Europe	234,256		33,302			260,353			52,508
	Asia	124,233		24,308			133,531			30,898
	Corporate			(78,178		)				(77,777		)
	Consolidated	$	725,085	$	56,154		$	776,544		$	104,698
		April 4, 2015					January 3, 2015
		Long-Term Assets		Total Assets			Long-Term Assets			Total Assets
	Americas	$	263,887	$	765,691		$	263,324		$	809,548
	Europe	202,704		470,671			220,742			561,486
	Asia	56,670		222,387			57,508			233,881
	Corporate	174,880		584,716			176,124			602,637
	Total	$	698,141	$	2,043,465		$	717,698		$	2,207,552
Schedule of revenue 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 13 Weeks Ended				For the 14 Weeks Ended
		April 4, 2015				April 5, 2014
		Net Sales		Percentage of Total		Net Sales			Percentage of Total
	Watches	$	551,857	76.1	%	$	601,388		77.5	%
	Leathers	92,926		12.8		99,722			12.8
	Jewelry	62,987		8.7		56,518			7.3
	Other	17,315		2.4		18,916			2.4
	Total	$	725,085	100.0	%	$	776,544		100.0	%

DERIVATIVES_AND_RISK_MANAGEMEN1

DERIVATIVES AND RISK MANAGEMENT (Tables)

3 Months Ended

Apr. 04, 2015

DERIVATIVES AND RISK MANAGEMENT

Schedule of outstanding forward contracts

As of April 4, 2015, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in millions):

Functional Currency

Contract Currency

Type

Amount

Type

Amount

Euro

174.1

U.S. dollar

217.6

British pound

27.5

U.S. dollar

43.5

Canadian dollar

40.1

U.S. dollar

34.3

Japanese yen

2,935.0

U.S. dollar

26.4

Mexican peso

173.3

U.S. dollar

12.0

Australian dollar

14.2

U.S. dollar

11.5

Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes

The effective portion of gains and losses on derivative instruments 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 13

For the 14

Weeks Ended

Weeks Ended

April 4, 2015

April 5, 2014

Cash flow hedges:

Forward contracts

$

12,543

$

(348

)

Interest rate swaps

(4,707

)

(538

)

Net investment hedge:

Forward contract

0

162

Total gain (loss) recognized in other comprehensive income (loss), net of taxes

$

7,836

$

(724

)

Schedule of effective portion of gains and losses on derivative instruments designated and qualifying as cash flow hedges recorded in 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

The following table illustrates the effective portion of gains and losses on derivative instruments recorded in 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):

Condensed Consolidated

Statements of Income

For the 13

For the 14

and Comprehensive

Effect of Derivative

Weeks Ended

Weeks Ended

Derivatives Instruments

Income Location

Instruments

April 4, 2015

April 5, 2014

Forward contracts designated as cash flow hedging instruments

Other income (expense)-net

Total gain (loss) reclassified from other comprehensive income (loss)

$

8,208

$

(498

)

Forward contracts not designated as hedging instruments

Other income (expense)-net

Total gain (loss) recognized in income

$

89

$

(148

)

Interest rate swap designated as a cash flow hedging instrument

Interest expense

Total gain (loss) reclassified from other comprehensive income (loss)

$

(433

)

$

(465

)

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, 2015

January 3, 2015

April 4, 2015

January 3, 2015

Condensed

Condensed

Condensed

Condensed

Consolidated

Consolidated

Consolidated

Consolidated

Balance Sheets

Fair

Balance Sheets

Fair

Balance Sheets

Fair

Balance Sheets

Fair

Derivatives Instruments

Location

Value

Location

Value

Location

Value

Location

Value

Forward contracts designated as cash flow hedging instruments

Prepaid expenses and other current assets

$

32,927

Prepaid expenses and other current assets

$

25,867

Accrued expenses- other

$

373

Accrued expenses- other

$

0

Interest rate swap designated as a cash flow hedging instrument

Prepaid expenses and other current assets

0

Prepaid expenses and other current assets

0

Accrued expenses- other

7,059

Accrued expenses- other

2,157

Forward contracts designated as cash flow hedging instruments

Intangible and other assets-net

1,155

Intangible and other assets-net

1,802

Other long-term liabilities

133

Other long-term liabilities

0

Interest rate swap designated as a cash flow hedging instrument

Intangible and other assets-net

343

Intangible and other assets-net

1,724

Other long-term liabilities

799

Other long-term liabilities

357

Total

$

34,425

$

29,393

$

8,364

$

2,514

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Apr. 04, 2015
FAIR VALUE MEASUREMENTS
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, 2015 (in thousands):
		Fair Value at April 4, 2015
		Level 1		Level 2		Level 3		Total
	Assets:
	Forward contracts	$	0	$	34,082	$	0	$	34,082
	Deferred compensation plan assets:
	Investment in publicly traded mutual funds	2,510		0		0		2,510
	Interest rate swaps	0		343		0		343
	Total	$	2,510	$	34,425	$	0	$	36,935
	Liabilities:
	Contingent consideration	$	0	$	0	$	6,878	$	6,878
	Forward contracts	0		506		0		506
	Interest rate swaps	0		7,858		0		7,858
	Total	$	0	$	8,364	$	6,878	$	15,242
	The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of January 3, 2015 (in thousands):
		Fair Value at January 3, 2015
		Level 1		Level 2		Level 3		Total
	Assets:
	Forward contracts	$	0	$	27,669	$	0	$	27,669
	Deferred compensation plan assets:
	Investment in publicly traded mutual funds	2,477		0		0		2,477
	Interest rate swap	0		1,724		0		1,724
	Total	$	2,477	$	29,393	$	0	$	31,870
	Liabilities:
	Contingent consideration	$	0	$	0	$	7,114	$	7,114
	Interest rate swap	0		2,514		0		2,514
	Total	$	0	$	2,514	$	7,114	$	9,628

INTANGIBLE_AND_OTHER_ASSETS_Ta

INTANGIBLE AND OTHER ASSETS (Tables)	3 Months Ended
	Apr. 04, 2015
INTANGIBLE AND OTHER ASSETS
Schedule of intangible and other assets-net	The following table summarizes intangible and other assets (in thousands):
				April 4, 2015				January 3, 2015
		Useful		Gross		Accumulated		Gross		Accumulated
	At Fiscal Year End	Lives		Amount		Amortization		Amount		Amortization
	Intangibles-subject to amortization:
	Trademarks	10 yrs.		$	4,175	$	3,013	$	4,174	$	2,950
	Customer lists	5-10 yrs.		43,461		17,987		41,703		17,457
	Patents	3-20 yrs.		2,273		2,037		2,273		1,902
	Noncompete agreement	6 yrs.		1,816		908		1,855		851
	Other	7-20 yrs.		501		394		353		341
	Total intangibles-subject to amortization			52,226		24,339		50,358		23,501
	Intangibles-not subject to amortization:
	Trade names			83,627				83,610
	Other assets:
	Key money deposits			29,438		18,107		31,892		18,661
	Other deposits			22,182				21,854
	Deferred compensation plan assets			2,510				2,477
	Deferred tax asset-net			7,581				8,583
	Restricted cash			522				575
	Shop-in-shop			14,807		10,267		16,333		9,660
	Interest rate swap			343				1,724
	Forward contracts			1,155				1,802
	Other			8,758				6,978
	Total other assets			87,296		28,374		92,218		28,321
	Total intangible and other assets			$	223,149	$	52,713	$	226,186	$	51,822
	Total intangible and other assets-net					$	170,436			$	174,364
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
	2015 (remaining)	$	3,751
	2016	$	4,880
	2017	$	4,621
	2018	$	4,267
	2019	$	4,172
	2020	$	3,674

FINANCIAL_STATEMENT_POLICIES_D

FINANCIAL STATEMENT POLICIES (Details) (USD $)	0 Months Ended	3 Months Ended
	Apr. 04, 2015	Apr. 04, 2015	Apr. 05, 2014
Hedging Instruments
Unrealized net loss on foreign currency forward contracts, if settled	$21,900,000
Numerator:
Net income attributable to Fossil Group, Inc.		$38,070,000	$66,343,000
Denominator:
Basic weighted average common shares outstanding		50,294,000	54,125,000
Basic EPS (in dollars per share)		$0.76	$1.23
Diluted EPS computation:
Basic weighted average common shares outstanding		50,294,000	54,125,000
Effect of stock options, stock appreciation rights, restricted stock units and performance restricted stock units		173,000	226,000
Diluted weighted average common shares outstanding		50,467,000	54,351,000
Diluted EPS (in dollars per share)		$0.75	$1.22
Other EPS Disclosures
Shares issuable under stock-based awards not included in the diluted EPS calculation		352,400	273,400

ACQUISITION_AND_GOODWILL_Detai

ACQUISITION AND GOODWILL (Details) (USD $)	0 Months Ended
	Feb. 01, 2015	Apr. 04, 2015	Jan. 03, 2015
Business Acquisition
Goodwill		$196,040,000	$197,728,000
Fossil Accessories South Africa | S Keren Watch Group (SKWG)
Business Acquisition
Purchase price paid in cash	5,000,000
Period of partnership with Company	23 years
Goodwill	$3,700,000

ACQUISITION_AND_GOODWILL_Detai1

ACQUISITION AND GOODWILL (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015
Changes in carrying amount of goodwill
Beginning Balance	$197,728
Acquisitions	3,711
Foreign currency changes	-5,399
Ending Balance	196,040
Americas
Changes in carrying amount of goodwill
Beginning Balance	119,438
Acquisitions	0
Foreign currency changes	-59
Ending Balance	119,379
Europe
Changes in carrying amount of goodwill
Beginning Balance	66,433
Acquisitions	3,711
Foreign currency changes	-5,378
Ending Balance	64,766
Asia
Changes in carrying amount of goodwill
Beginning Balance	11,857
Acquisitions	0
Foreign currency changes	38
Ending Balance	$11,895

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, unless otherwise specified
INVENTORIES
Components and parts	$42,270	$48,797
Work-in-process	10,805	13,719
Finished goods	577,515	534,765
Inventories	$630,590	$597,281

WARRANTY_LIABILITIES_Details

WARRANTY LIABILITIES (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015		Apr. 05, 2014
Warranty liability activity
Beginning balance	$13,500		$15,658
Settlements in cash or kind	-2,102		-3,163
Warranties issued and adjustments to preexisting warranties (1)	2,016	[1]	3,364	[1]
Liabilities assumed in acquisition	44		0
Ending balance	$13,458		$15,859
[1]	Changes in cost estimates related to preexisting warranties are aggregated with accruals for new standard warranties issued and foreign currency changes.

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
	Apr. 04, 2015	Apr. 05, 2014
INCOME TAXES
Income tax expense	$18,524,000	$31,480,000
Income tax rate (as a percent)	31.30%	31.30%
Unrecognized tax benefits	20,900,000
Unrecognized tax benefits that would impact effective tax rate	13,200,000
Unrecognized tax benefits excluding interest and penalties	5,900,000
Total amount of accrued income tax-related interest	2,000,000
Penalties accrued	400,000
Accrued income tax-related interest expense	$200,000

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	3 Months Ended
Share data in Millions, unless otherwise specified	Apr. 04, 2015		Apr. 05, 2014
Common and Preferred Stock
Authorizations remaining	$944,200,000
Stock repurchase plans | Common stock
Common Stock Repurchase Programs
Treasury stock effectively retired (in shares)	1.3
Treasury stock effectively retired	13,000
Stock repurchase plans | Additional paid-in capital
Common Stock Repurchase Programs
Treasury stock effectively retired	400,000
Stock repurchase plans | Retained earnings
Common Stock Repurchase Programs
Treasury stock effectively retired	114,100,000
Stock repurchase plans | Treasury stock
Common Stock Repurchase Programs
Treasury stock effectively retired	114,500,000
Repurchase program with termination date of December 2018
Common Stock Repurchase Programs
Common stock authorized amount, value	1,000,000,000
Number of shares repurchased	1		0
Common stock repurchased, value	85,700,000		0
Repurchase program with termination date of December 2016
Common Stock Repurchase Programs
Common stock authorized amount, value	1,000,000,000	[1]
Number of shares repurchased	0.3		1
Common stock repurchased, value	28,800,000		117,300,000
Share repurchase plan with no termination date
Common Stock Repurchase Programs
Common stock authorized amount, value	30,000,000
Number of shares repurchased	0		0
Common stock repurchased, value	$0		$0
[1]	In the first quarter of fiscal year 2015, we completed this repurchase plan.

STOCKHOLDERS_EQUITY_Details_2

STOCKHOLDERS' EQUITY (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
Summary of changes in equity attributable to controlling and noncontrolling interest
Balance	$983,801	$1,075,367
Net income	40,638	69,161
Currency translation adjustment	-33,506	-1,125
Derivative instruments-net change	61	239
Common stock issued upon exercise of stock options	444	759
Tax (expense) benefit derived from stock-based compensation	-306	938
Distribution of noncontrolling interest earnings and other	-5,056	-5,391
Business acquisition	5,886
Acquisition of common stock	-116,047	-119,715
Stock-based compensation expense	4,346	4,978
Balance	880,261	1,025,211
Fossil Group, Inc. Stockholders' Equity
Summary of changes in equity attributable to controlling and noncontrolling interest
Balance	977,860	1,068,677
Net income	38,070	66,343
Currency translation adjustment	-33,506	-1,125
Derivative instruments-net change	61	239
Common stock issued upon exercise of stock options	444	759
Tax (expense) benefit derived from stock-based compensation	-306	938
Distribution of noncontrolling interest earnings and other	0	0
Business acquisition	0
Acquisition of common stock	-116,047	-119,715
Stock-based compensation expense	4,346	4,978
Balance	870,922	1,021,094
Noncontrolling Interest
Summary of changes in equity attributable to controlling and noncontrolling interest
Balance	5,941	6,690
Net income	2,568	2,818
Currency translation adjustment	0	0
Derivative instruments-net change	0	0
Common stock issued upon exercise of stock options	0	0
Tax (expense) benefit derived from stock-based compensation	0	0
Distribution of noncontrolling interest earnings and other	-5,056	-5,391
Business acquisition	5,886
Acquisition of common stock	0	0
Stock-based compensation expense	0	0
Balance	$9,339	$4,117

EMPLOYEE_BENEFIT_PLANS_Details

EMPLOYEE BENEFIT PLANS (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2015	Jan. 03, 2015
Shares
Beginning Balance, Shares	663
Granted (in shares)	147
Exercised (in shares)	-19
Forfeited or expired (in shares)	-16
Ending Balance, Shares	775	663
Exercisable at end of period (in shares)	551
Weighted-Average Exercise Price Per Share
Beginning Balance, Weighted-average Exercise Price (in dollars per share)	$85.08
Granted (in dollars per share)	$80.22
Exercised (in dollars per share)	$32.11
Forfeited or expired (in dollars per share)	$111.84
Ending Balance, Weighted-average Exercise Price (in dollars per share)	$84.93	$85.08
Stock Options and Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share)	$82.90
Weighted-Average Remaining Contractual Term
Beginning of period	5 years 9 months 18 days	5 years 7 months 6 days
End of period	5 years 9 months 18 days	5 years 7 months 6 days
Exercisable at end of period	5 years 1 month 6 days
Aggregate Intrinsic Value
Beginning of period	$20,751
Exercised	1,052
End of period	10,714	20,751
Exercisable at end of period	$10,297

EMPLOYEE_BENEFIT_PLANS_Details1

EMPLOYEE BENEFIT PLANS (Details 2) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2015
Stock options
Stock-based compensation plans disclosures
Stock Options Outstanding, Number Of Shares	412
Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share)	$80.99
Stock Options Outstanding, Weighted- Average Remaining Contractual Term	5 years 3 months 18 days
Stock Options Exercisable, Number Of Shares	407
Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share)	$80.71
Stock appreciation rights
Stock-based compensation plans disclosures
Stock Appreciation Rights Outstanding, Number Of Shares	363
Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share)	$89.40
Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term	6 years 3 months 18 days
Stock Appreciation Rights Exercisable, Number Of Shares	144
Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share)	$89.15
Range Of Exercise Prices $13.65 - $21.51 | Stock options
Stock-based compensation plans disclosures
Stock Options Outstanding, lower range (in dollars per share)	$13.65
Stock Options Outstanding, upper range (in dollars per share)	$21.51
Stock Options Outstanding, Number Of Shares	54
Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share)	$15.12
Stock Options Outstanding, Weighted- Average Remaining Contractual Term	3 years 3 months 18 days
Stock Options Exercisable, Number Of Shares	54
Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share)	$15.12
Range Of Exercise Prices $13.65 - $21.51 | Stock appreciation rights
Stock-based compensation plans disclosures
Stock Appreciation Rights Outstanding, lower range (in dollars per share)	$13.65
Stock Appreciation Rights Outstanding, upper range (in dollars per share)	$21.51
Stock Appreciation Rights Outstanding, Number Of Shares	18
Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share)	$13.65
Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term	2 years
Stock Appreciation Rights Exercisable, Number Of Shares	18
Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share)	$13.65
Range Of Exercise Prices $30.71 - $67.10 | Stock options
Stock-based compensation plans disclosures
Stock Options Outstanding, lower range (in dollars per share)	$30.71
Stock Options Outstanding, upper range (in dollars per share)	$67.10
Stock Options Outstanding, Number Of Shares	96
Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share)	$36.26
Stock Options Outstanding, Weighted- Average Remaining Contractual Term	3 years 8 months 12 days
Stock Options Exercisable, Number Of Shares	96
Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share)	$36.26
Range Of Exercise Prices $30.71 - $67.10 | Stock appreciation rights
Stock-based compensation plans disclosures
Stock Appreciation Rights Outstanding, lower range (in dollars per share)	$30.71
Stock Appreciation Rights Outstanding, upper range (in dollars per share)	$67.10
Stock Appreciation Rights Outstanding, Number Of Shares	17
Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share)	$40.16
Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term	2 years 7 months 6 days
Stock Appreciation Rights Exercisable, Number Of Shares	17
Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share)	$38.71
Range Of Exercise Prices $69.53 - $106.40 | Stock options
Stock-based compensation plans disclosures
Stock Options Outstanding, lower range (in dollars per share)	$69.53
Stock Options Outstanding, upper range (in dollars per share)	$106.40
Stock Options Outstanding, Number Of Shares	96
Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share)	$80.86
Stock Options Outstanding, Weighted- Average Remaining Contractual Term	5 years 10 months 24 days
Stock Options Exercisable, Number Of Shares	94
Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share)	$80.79
Range Of Exercise Prices $69.53 - $106.40 | Stock appreciation rights
Stock-based compensation plans disclosures
Stock Appreciation Rights Outstanding, lower range (in dollars per share)	$69.53
Stock Appreciation Rights Outstanding, upper range (in dollars per share)	$106.40
Stock Appreciation Rights Outstanding, Number Of Shares	213
Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share)	$84.29
Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term	7 years 1 month 6 days
Stock Appreciation Rights Exercisable, Number Of Shares	45
Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share)	$90.52
Range Of Exercise Prices $106.89 - $131.46 | Stock options
Stock-based compensation plans disclosures
Stock Options Outstanding, lower range (in dollars per share)	$106.89
Stock Options Outstanding, upper range (in dollars per share)	$131.46
Stock Options Outstanding, Number Of Shares	166
Stock Options Outstanding, Weighted- Average Exercise Price (in dollars per share)	$128.10
Stock Options Outstanding, Weighted- Average Remaining Contractual Term	6 years 6 months
Stock Options Exercisable, Number Of Shares	163
Stock Options Exercisable, Weighted- Average Exercise Price (in dollars per share)	$128.06
Range Of Exercise Prices $106.89 - $131.46 | Stock appreciation rights
Stock-based compensation plans disclosures
Stock Appreciation Rights Outstanding, lower range (in dollars per share)	$106.89
Stock Appreciation Rights Outstanding, upper range (in dollars per share)	$131.46
Stock Appreciation Rights Outstanding, Number Of Shares	115
Stock Appreciation Rights Outstanding, Weighted- Average Exercise Price (in dollars per share)	$117.80
Stock Appreciation Rights Outstanding, Weighted- Average Remaining Contractual Term	6 years 2 months 12 days
Stock Appreciation Rights Exercisable, Number Of Shares	64
Stock Appreciation Rights Exercisable, Weighted- Average Exercise Price (in dollars per share)	$121.94

EMPLOYEE_BENEFIT_PLANS_Details2

EMPLOYEE BENEFIT PLANS (Details 3) (Restricted stock ,Restricted stock units and Performance restricted stock units, USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Apr. 04, 2015
Restricted stock ,Restricted stock units and Performance restricted stock units
Nonvested, Number of Shares
Nonvested, beginning balance (in shares)	255
Granted (in shares)	288
Vested (in shares)	-85
Forfeited (in shares)	-12
Nonvested, ending balance (in shares)	446
Nonvested, Weighted-Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share)	$110.17
Granted (in dollars per share)	$80.38
Vested (in dollars per share)	$113.06
Forfeited (in dollars per share)	$110.75
Nonvested, ending balance (in dollars per share)	$90.39
Fair value of restricted stock and restricted stock units, vested	$6.90

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	($16,410)	$36,691
Other comprehensive income (loss) before reclassifications	-22,152	-2,137
Tax (expense) benefit	-3,518	288
Amounts reclassed from accumulated other comprehensive income	11,758	-1,560
Tax (expense) benefit	-3,983	597
Total other comprehensive income (loss)	-33,445	-886
Ending balance	-49,855	35,805
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	-27,241	38,152
Other comprehensive income (loss) before reclassifications	-33,506	-1,125
Tax (expense) benefit	0	0
Amounts reclassed from accumulated other comprehensive income	0	0
Tax (expense) benefit	0	0
Total other comprehensive income (loss)	-33,506	-1,125
Ending balance	-60,747	37,027
Derivatives Designated as Cash Flow Hedges | Forward contract
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	14,980	-2,091
Other comprehensive income (loss) before reclassifications	18,760	-266
Tax (expense) benefit	-6,217	-82
Amounts reclassed from accumulated other comprehensive income	12,439	-828
Tax (expense) benefit	-4,231	330
Total other comprehensive income (loss)	4,335	150
Ending balance	19,315	-1,941
Derivatives Designated as Cash Flow Hedges | Interest rate swaps
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	-502	-106
Other comprehensive income (loss) before reclassifications	-7,406	-908
Tax (expense) benefit	2,699	370
Amounts reclassed from accumulated other comprehensive income	-681	-732
Tax (expense) benefit	248	267
Total other comprehensive income (loss)	-4,274	-73
Ending balance	-4,776	-179
Pension Plan
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance	-3,647	736
Other comprehensive income (loss) before reclassifications	0	0
Tax (expense) benefit	0	0
Amounts reclassed from accumulated other comprehensive income	0	0
Tax (expense) benefit	0	0
Total other comprehensive income (loss)	0	0
Ending balance	-3,647	736
Net Investment Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax
Beginning balance		0
Other comprehensive income (loss) before reclassifications		162
Tax (expense) benefit		0
Amounts reclassed from accumulated other comprehensive income		0
Tax (expense) benefit		0
Total other comprehensive income (loss)		162
Ending balance		$162

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014	Jan. 03, 2015
Summary information by operating segment
Net Sales	$725,085	$776,544
Operating Income	56,154	104,698
Long-Term Assets	698,141		717,698
Total Assets	2,043,465		2,207,552
Corporate
Summary information by operating segment
Operating Income	-78,178	-77,777
Long-Term Assets	174,880		176,124
Total Assets	584,716		602,637
Americas
Summary information by operating segment
Net Sales	366,596	382,660
Operating Income	76,722	99,069
Long-Term Assets	263,887		263,324
Total Assets	765,691		809,548
Europe
Summary information by operating segment
Net Sales	234,256	260,353
Operating Income	33,302	52,508
Long-Term Assets	202,704		220,742
Total Assets	470,671		561,486
Asia
Summary information by operating segment
Net Sales	124,233	133,531
Operating Income	24,308	30,898
Long-Term Assets	56,670		57,508
Total Assets	$222,387		$233,881

SEGMENT_INFORMATION_Details_2

SEGMENT INFORMATION (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
Net sales for each class of similar products
Net sales	$725,085	$776,544
Percentage of Total	100.00%	100.00%
Watches
Net sales for each class of similar products
Net sales	551,857	601,388
Percentage of Total	76.10%	77.50%
Leathers
Net sales for each class of similar products
Net sales	92,926	99,722
Percentage of Total	12.80%	12.80%
Jewelry
Net sales for each class of similar products
Net sales	62,987	56,518
Percentage of Total	8.70%	7.30%
Other
Net sales for each class of similar products
Net sales	$17,315	$18,916
Percentage of Total	2.40%	2.40%

DERIVATIVES_AND_RISK_MANAGEMEN2

DERIVATIVES AND RISK MANAGEMENT (Details)

3 Months Ended

3 Months Ended

Apr. 04, 2015

Apr. 05, 2014

Apr. 04, 2015

Apr. 05, 2014

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

Apr. 04, 2015

USD ($)

USD ($)

Derivatives Designated as Cash Flow Hedges

Derivatives Designated as Cash Flow Hedges

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Forward contract

Interest rate swaps

Consolidated leverage ratio (the Ratio) less than 1.00 to 1.00

Consolidated leverage ratio (the Ratio) greater than 2.00 to 1.00

Amount Reclassified from AOCI

Amount Reclassified from AOCI

Net Investment Hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Designated as cash flow hedges

Interest rate swaps

Interest rate swaps

USD ($)

USD ($)

EUR (€)

Euro

Euro

British pound

British pound

Canadian dollar

Canadian dollar

Japanese yen

Japanese yen

Mexican peso

Mexican peso

Australian dollar

Australian dollar

Designated as cash flow hedges

Designated as cash flow hedges

USD ($)

EUR (€)

USD ($)

GBP (£)

USD ($)

CAD

USD ($)

JPY (¥)

USD ($)

MXN

USD ($)

AUD

DERIVATIVES AND RISK MANAGEMENT

Maximum period of future intercompany purchases

18 months

Forecasted purchases to manage fluctuations (as a percent)

65.00%

Hedges resulted ineffectiveness

$0

$0

Derivatives

Gains or losses reclassified into earnings

38,070,000

66,343,000

0

0

Notional amount

217,600,000

174,100,000

43,500,000

27,500,000

34,300,000

40,100,000

26,400,000

2,935,000,000

12,000,000

173,300,000

11,500,000

14,200,000

Term of interest rate swap agreement

5 years

Fixed interest rate swap (as a percent)

1.29%

Description of base rate

1-month London Interbank Offer Rate ("LIBOR") based variable rate

Applicable margin based on the Company's consolidated leverage ratio (as a percent)

1.25%

2.00%

Consolidated leverage ratio used to calculate variable rate of debt (as a percent)

1.00%

2.00%

Hedged amount

€ 25,000,000

DERIVATIVES_AND_RISK_MANAGEMEN3

DERIVATIVES AND RISK MANAGEMENT (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
Derivatives
Total gain (loss) recognized in other comprehensive loss, net of taxes	$7,836	($724)
Cash flow hedges | Forward contract
Derivatives
Total gain (loss) recognized in other comprehensive loss, net of taxes	12,543	-348
Cash flow hedges | Interest rate swaps
Derivatives
Total gain (loss) recognized in other comprehensive loss, net of taxes	-4,707	-538
Net Investment Hedges | Forward contract
Derivatives
Total gain (loss) recognized in other comprehensive loss, net of taxes	$0	$162

DERIVATIVES_AND_RISK_MANAGEMEN4

DERIVATIVES AND RISK MANAGEMENT (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
Forward contract | Designated as cash flow hedges | Cash flow hedges
Effective portion of gains and losses on derivative instruments
Total gain (loss) reclassified from other comprehensive income (loss)	$8,208	($498)
Forward contract | Not designated as hedging instruments
Effective portion of gains and losses on derivative instruments
Total gain (loss) recognized in income	89	-148
Interest rate swaps | Designated as cash flow hedges | Cash flow hedges
Effective portion of gains and losses on derivative instruments
Total gain (loss) reclassified from other comprehensive income (loss)	($433)	($465)

DERIVATIVES_AND_RISK_MANAGEMEN5

DERIVATIVES AND RISK MANAGEMENT (Details 4) (USD $)	Apr. 04, 2015	Jan. 03, 2015
Fair value of derivative instruments
Asset Derivatives, Fair Value	$34,425,000	$29,393,000
Liability Derivatives, Fair Value	8,364,000	2,514,000
Estimated gain expected to be reclassified into earnings within the next twelve months	21,300,000
Forward contract | Designated as cash flow hedges | Cash flow hedges | Prepaid expenses and other current assets
Fair value of derivative instruments
Asset Derivatives, Fair Value	32,927,000	25,867,000
Forward contract | Designated as cash flow hedges | Cash flow hedges | Intangible and other assets-net
Fair value of derivative instruments
Asset Derivatives, Fair Value	1,155,000	1,802,000
Forward contract | Designated as cash flow hedges | Cash flow hedges | Accrued expenses - other
Fair value of derivative instruments
Liability Derivatives, Fair Value	373,000	0
Forward contract | Designated as cash flow hedges | Cash flow hedges | Other long-term liabilities
Fair value of derivative instruments
Liability Derivatives, Fair Value	133,000	0
Interest rate contracts | Designated as cash flow hedges | Cash flow hedges | Prepaid expenses and other current assets
Fair value of derivative instruments
Asset Derivatives, Fair Value	0	0
Interest rate contracts | Designated as cash flow hedges | Cash flow hedges | Intangible and other assets-net
Fair value of derivative instruments
Asset Derivatives, Fair Value	343,000	1,724,000
Interest rate contracts | Designated as cash flow hedges | Cash flow hedges | Accrued expenses - other
Fair value of derivative instruments
Liability Derivatives, Fair Value	7,059,000	2,157,000
Interest rate contracts | Designated as cash flow hedges | Cash flow hedges | Other long-term liabilities
Fair value of derivative instruments
Liability Derivatives, Fair Value	$799,000	$357,000

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details)	12 Months Ended				12 Months Ended
In Thousands, unless otherwise specified	Jan. 02, 2016	Jan. 02, 2016	Jan. 03, 2015	Jan. 03, 2015	Jan. 02, 2016	Apr. 04, 2015	Jan. 03, 2015	Apr. 04, 2015	Jan. 03, 2015	Apr. 04, 2015	Jan. 03, 2015	Apr. 04, 2015	Jan. 03, 2015
	Level 3	Level 3	Level 3	Level 3	Level 3	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis	Fair Value Measurement, Recurring Basis
	Contingent consideration, Fossil Spain	Contingent consideration, Fossil Spain	Contingent consideration, Fossil Spain	Contingent consideration, Fossil Spain	Minimum	Level 1	Level 1	Level 2	Level 2	Level 3	Level 3	Total	Total
	USD ($)	EUR (€)	USD ($)	EUR (€)	Contingent consideration, Fossil Spain	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)
Assets:
Forward contracts						$0	$0	$34,082	$27,669	$0	$0	$34,082	$27,669
Investment in publicly traded mutual funds						2,510	2,477	0	0	0	0	2,510	2,477
Interest rate swaps						0	0	343	1,724	0	0	343	1,724
Total						2,510	2,477	34,425	29,393	0	0	36,935	31,870
Liabilities:
Contingent consideration	3,800	3,500	3,700	3,400		0	0	0	0	6,878	7,114	6,878	7,114
Forward contracts						0		506		0		506
Interest rate swaps						0	0	7,858	2,514	0	0	7,858	2,514
Total						$0	$0	$8,364	$2,514	$6,878	$7,114	$15,242	$9,628
Future revenue growth for 2015 (as a percent)					17.00%
Projected operating expenses as a percentage of revenues	25.00%	25.00%
Discount rate (as a percent)	19.00%	19.00%

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)	3 Months Ended
	Apr. 04, 2015	Apr. 05, 2014	Jan. 03, 2015
Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis
Impairment losses	$1,270,000	$282,000
Property, plant and equipment - net	331,665,000		345,606,000
Specific Company-owned stores
Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis
Impairment losses	1,300,000
Property, plant and equipment - net	1,200,000
Key money, deemed not recoverable	100,000
Americas | Level 3 | Specific Company-owned stores
Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis
Impairment losses	300,000
Europe | Level 3 | Specific Company-owned stores
Fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis
Impairment losses	$1,000,000

INTANGIBLE_AND_OTHER_ASSETS_De

INTANGIBLE AND OTHER ASSETS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Jan. 03, 2015
Intangible and other assets
Total intangibles - subject to amortization	$52,226	$50,358
Total intangibles-not subject to amortization, Carrying Amount	83,627	83,610
Total other assets, Gross Amount	87,296	92,218
Total intangible and other assets, Carrying Amount	223,149	226,186
Total intangibles-subject to amortization, Accumulated Amortization	24,339	23,501
Total other assets, Accumulated Amortization	28,374	28,321
Total intangible and other assets, Accumulated Amortization	52,713	51,822
Total intangible and other assets-net	170,436	174,364
Key money deposits
Intangible and other assets
Total other assets, Gross Amount	29,438	31,892
Total other assets, Accumulated Amortization	18,107	18,661
Key money deposits | Minimum
Intangible and other assets
Amortization period based on initial lease term	4 years
Key money deposits | Maximum
Intangible and other assets
Amortization period based on initial lease term	18 years
Other deposits
Intangible and other assets
Total other assets, Gross Amount	22,182	21,854
Deferred compensation plan assets
Intangible and other assets
Total other assets, Gross Amount	2,510	2,477
Deferred tax asset-net
Intangible and other assets
Total other assets, Gross Amount	7,581	8,583
Restricted cash
Intangible and other assets
Total other assets, Gross Amount	522	575
Shop-in-shop
Intangible and other assets
Total other assets, Gross Amount	14,807	16,333
Total other assets, Accumulated Amortization	10,267	9,660
Interest rate swaps
Intangible and other assets
Total other assets, Gross Amount	343	1,724
Forward contracts
Intangible and other assets
Total other assets, Gross Amount	1,155	1,802
Other assets
Intangible and other assets
Total other assets, Gross Amount	8,758	6,978
Trademarks
Intangible and other assets
Total intangibles - subject to amortization	4,175	4,174
Total intangibles-subject to amortization, Accumulated Amortization	3,013	2,950
Useful Lives	10 years
Customer lists
Intangible and other assets
Total intangibles - subject to amortization	43,461	41,703
Total intangibles-subject to amortization, Accumulated Amortization	17,987	17,457
Customer lists | Minimum
Intangible and other assets
Useful Lives	5 years
Customer lists | Maximum
Intangible and other assets
Useful Lives	10 years
Patents
Intangible and other assets
Total intangibles - subject to amortization	2,273	2,273
Total intangibles-subject to amortization, Accumulated Amortization	2,037	1,902
Patents | Minimum
Intangible and other assets
Useful Lives	3 years
Patents | Maximum
Intangible and other assets
Useful Lives	20 years
Noncompete agreement
Intangible and other assets
Total intangibles - subject to amortization	1,816	1,855
Total intangibles-subject to amortization, Accumulated Amortization	908	851
Useful Lives	6 years
Other
Intangible and other assets
Total intangibles - subject to amortization	501	353
Total intangibles-subject to amortization, Accumulated Amortization	$394	$341
Other | Minimum
Intangible and other assets
Useful Lives	7 years
Other | Maximum
Intangible and other assets
Useful Lives	20 years

INTANGIBLE_AND_OTHER_ASSETS_De1

INTANGIBLE AND OTHER ASSETS (Details 2) (USD $)	3 Months Ended
	Apr. 04, 2015	Apr. 05, 2014
INTANGIBLE AND OTHER ASSETS
Amortization expense for intangible assets	$1,200,000	$1,300,000
Estimated aggregate future amortization expense by fiscal year
2015 (remaining)	3,751,000
2016	4,880,000
2017	4,621,000
2018	4,267,000
2019	4,172,000
2020	$3,674,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 04, 2015	Apr. 05, 2014
COMMITMENTS AND CONTINGENCIES
Capital lease obligations	$886.70
Rent expense	$49	$44.40

DEBT_ACTIVITY_Details

DEBT ACTIVITY (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 04, 2015	Mar. 09, 2015
Credit Agreement
Debt Instrument
Increments in excess of minimum principal amount	$1
Credit Agreement | Minimum
Debt Instrument
Minimum principal payments	3
Credit Agreement | Maximum
Debt Instrument
Consolidated leverage ratio required	2.5
Consolidated interest coverage ratio required	3.5
Credit Agreement | Fossil Europe B.V., Swiss Technology Holding GmbH and Fossil (East) Limited
Debt Instrument
Percentage of total outstanding non-voting capital stock	100.00%
U.S. revolving line of credit
Debt Instrument
Maximum borrowing capacity		1,050
Percentage of total outstanding voting capital stock	65.00%
Total borrowings	18
Debt outstanding	407
Available borrowing capacity	642.1
Interest expense incurred	0.6
U.S. revolving line of credit | Base rate loans
Debt Instrument
Minimum principal payments	2
Increments in excess of minimum principal amount	1
U.S. revolving line of credit | LIBOR rate loans
Debt Instrument
Minimum principal payments	5
Increments in excess of minimum principal amount	1
U.S. revolving line of credit | Prior Agreement
Debt Instrument
Debt outstanding		555
Interest expense incurred	1.6
U.S. revolving line of credit | Minimum
Debt Instrument
Commitment fee (as a percent)	0.20%
U.S. revolving line of credit | Maximum
Debt Instrument
Commitment fee (as a percent)	0.35%
U.S. revolving line of credit | Consolidated leverage ratio (the Ratio) less than 1.00 to 1.00 | Base rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	0.25%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	1.00%
U.S. revolving line of credit | Consolidated leverage ratio (the Ratio) greater than 2.00 to 1.00 | Base rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	1.00%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	2.00%
U.S. revolving line of credit | Federal funds rate | Base rate loans
Debt Instrument
Description of base rate	federal funds rate
Basis spread on base rate (as a percent)	0.50%
U.S. revolving line of credit | LIBOR | Base rate loans
Debt Instrument
Description of base rate	LIBOR
Basis spread on base rate (as a percent)	1.00%
U.S. revolving line of credit | LIBOR | LIBOR rate loans
Debt Instrument
Description of base rate	LIBOR
LIBOR Rate, amount used to calculate quotient (as a percent)	1.00%
U.S. revolving line of credit | LIBOR | Consolidated leverage ratio (the Ratio) less than 1.00 to 1.00 | LIBOR rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	1.25%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	1.00%
U.S. revolving line of credit | LIBOR | Consolidated leverage ratio (the Ratio) greater than 2.00 to 1.00 | LIBOR rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	2.00%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	2.00%
Swingline loan
Debt Instrument
Maximum borrowing capacity		20
Minimum principal payments	0.1
Increments in excess of minimum principal amount	0.1
LC Facility
Debt Instrument
Maximum borrowing capacity		10
U.S. term loan
Debt Instrument
Maximum borrowing capacity		231.3
Repayment of borrowings	3.1
Debt outstanding	228.1
Interest paid	0.6
Minimum principal payments	5
Increments in excess of minimum principal amount	1
U.S. term loan | Prior Agreement
Debt Instrument
Debt outstanding		231.3
Interest expense incurred	$1
U.S. term loan | Consolidated leverage ratio (the Ratio) less than 1.00 to 1.00 | Base rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	0.25%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	1.00%
U.S. term loan | Consolidated leverage ratio (the Ratio) greater than 2.00 to 1.00 | Base rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	1.00%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	2.00%
U.S. term loan | Federal funds rate | Base rate loans
Debt Instrument
Description of base rate	federal funds rate
Basis spread on base rate (as a percent)	0.50%
U.S. term loan | LIBOR | Base rate loans
Debt Instrument
Description of base rate	LIBOR
Basis spread on base rate (as a percent)	1.00%
LIBOR Rate, amount used to calculate quotient (as a percent)	1.00%
U.S. term loan | LIBOR | LIBOR rate loans
Debt Instrument
Description of base rate	LIBOR
U.S. term loan | LIBOR | Consolidated leverage ratio (the Ratio) less than 1.00 to 1.00 | LIBOR rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	1.25%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	1.00%
U.S. term loan | LIBOR | Consolidated leverage ratio (the Ratio) greater than 2.00 to 1.00 | LIBOR rate loans
Debt Instrument
Applicable margin based on the Company's consolidated leverage ratio (as a percent)	2.00%
Consolidated leverage ratio used to calculate variable rate of debt (as a percent)	2.00%