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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jul. 05, 2025
Jun. 29, 2024
Operating Activities:    
Net income (loss) $ (19,951) $ (63,157)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and accretion 6,412 8,407
Non-cash lease expense 28,656 33,154
Stock-based compensation 1,193 1,625
Decrease in allowance for returns and markdowns (6,489) (8,867)
Net gain on disposal of assets (12,502) (612)
Property, plant and equipment and other long-lived asset impairment losses 79 950
Non-cash restructuring charges 59 501
Bad debt expense (8) 4,404
Other non-cash items 514 1,365
Changes in operating assets and liabilities:    
Accounts receivable 47,676 48,846
Inventories 9,132 45,825
Prepaid expenses and other current assets (959) 50,514
Accounts payable (38,543) (12,543)
Accrued expenses (35,412) (24,330)
Income taxes 4,479 (8,278)
Operating lease liabilities (35,269) (38,818)
Net cash (used in) provided by operating activities (50,933) 38,986
Investing Activities:    
Additions to property, plant and equipment (1,089) (3,430)
Decrease in intangible and other assets 610 335
Proceeds from the sale of property, plant and equipment 21,416 7
Net cash provided by (used in) investing activities 20,937 (3,088)
Financing Activities:    
Acquisition of common stock (132) (111)
Distribution of noncontrolling interest earnings (4,299) 0
Debt borrowings 75,816 33,781
Debt payments (62,676) (82,724)
Payment for shares of Fossil Accessories South Africa Pty. Ltd. 0 (422)
Net cash provided by (used in) financing activities 8,709 (49,476)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 8,084 1,076
Net decrease in cash, cash equivalents, and restricted cash (13,203) (12,502)
Cash, cash equivalents, and restricted cash:    
Beginning of period 126,592 121,583
End of period $ 113,389 $ 109,081