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Fossil Closing Stores

Retailer will also restructure its business

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Fossil (Richardson, Texas) announced it will close an unspecified number of stores and restructure its business. The announcement comes after news that the retailer experienced a nearly 70 percent year-over-year profit loss, reports the Dallas Business Journal.

“We'll review and adjust our overall structure with an eye towards streamlining the way we work to respond to the changing needs and demands of our customers, and we'll examine and adjust our store fleet to reflect the evolving shopping habits of today's consumer,” said Fossil CEO Kosta Kartsotis.

Fossil currently has more than 600 stores in 150 countries.

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