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ADESA, a leader in wholesale auto auctions and subsidiary of Carvana (NYSE: CVNA), today announced the launch of ADESA Timed, the latest enhancement to ADESA’s growing digital wholesale platform. ADESA Timed builds on the success of ADESA Clear, extending ADESA's timed digital auction offering to wholesale sellers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260610368071/en/

ADESA Timed enables wholesale sellers to leverage ADESA’s timed digital auction capabilities through a self-service selling experience.

“We believe we've built the most compelling digital wholesale platform in the industry, and ADESA Timed extends that marketplace to a broader group of sellers,” said Nikki Behrens, ADESA’s Vice President, Marketplaces. “ADESA Timed gives our customers a new way to reach ADESA's highly-engaged, digital buyer base while benefiting from the same transparency, efficiency, and technology that define our marketplace.”

ADESA Timed enables wholesale sellers, including financial institutions, fleets, rental companies, and dealer groups, to leverage ADESA's timed digital auction capabilities through a self-service selling experience. Sellers can list inventory directly on ADESA's digital auction using the same technology, tools, and merchandising capabilities that support ADESA Clear.

ADESA's digital auction platform now includes three products:

ADESA Clear — ADESA's fully managed timed auction offering ADESA Timed — ADESA’s self-service timed auction offering ADESA Simulcast — Live digital access to ADESA's in-lane auctions Alongside ADESA’s traditional physical auction, these offerings provide a robust, efficient, robust marketplace for wholesale buyers and sellers nationwide.

For more information or to register for upcoming wholesale auctions, visit ADESA.com.

About ADESA

ADESA is a leader in wholesale auto, providing comprehensive remarketing and logistics solutions that help OEMs, financial institutions, fleets, and dealers source, sell and manage cars efficiently and profitably. ADESA customers across the country enjoy access to its extensive physical auction network, robust digital offerings, and value-added services. ADESA is owned by leading online automotive retailer Carvana (NYSE: CVNA).

Learn more about ADESA here.

About Carvana

Carvana’s mission is to change the way people buy and sell cars. Since launching in 2013, more than 4 million customers have chosen Carvana’s leading automotive e-commerce experience to shop, sell, finance, and trade in vehicles entirely online, with the convenience of delivery or local pickup as soon as the same day. Carvana’s unique offering is powered by its passionate team, differentiated national infrastructure, and purpose-built technology.

For more information, please visit Carvana.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260610368071/en/

In the latest close session, Carvana (CVNA - Free Report) was down 3.39% at $67.25. This move lagged the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%.

Coming into today, shares of the company had lost 5.58% in the past month. In that same time, the Retail-Wholesale sector lost 6.71%, while the S&P 500 lost 0.03%.

Investors will be eagerly watching for the performance of Carvana in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.42, indicating a 61.54% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.9 billion, indicating a 42.6% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.58 per share and a revenue of $27.58 billion, representing changes of -6.51% and +35.72%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Carvana. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.54% higher. As of now, Carvana holds a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Carvana is holding a Forward P/E ratio of 44.06. This denotes a premium relative to the industry average Forward P/E of 16.72.

We can also see that CVNA currently has a PEG ratio of 11.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CVNA's industry had an average PEG ratio of 0.98 as of yesterday's close.

The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 150, this industry ranks in the bottom 39% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Have you evaluated the performance of Tapestry's (TPR - Free Report) international operations for the quarter ending March 2026? Given the extensive global presence of this maker of high-end shoes and handbags, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.

The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for investors to comprehend how much a company relies on these foreign markets, as this understanding reveals the firm's potential for consistent earnings, its capacity to harness different economic cycles, and its overall growth prospects.

Being present in foreign markets serves as protection against local economic declines and helps benefit from more rapidly expanding economies. Yet, such expansion also introduces challenges related to currency fluctuations, geopolitical uncertainties and varied market behaviors.

While analyzing TPR's performance for the last quarter, we found some intriguing trends in revenues from its overseas segments that Wall Street analysts commonly model and monitor.

The company's total revenue for the quarter stood at $1.92 billion, increasing 21.2% year over year. Now, let's delve into TPR's international revenue breakdown to gain insights into the significance of its operations beyond home turf.

A Look into TPR's International Revenue StreamsOf the total revenue, $146.5 million came from Other International during the last fiscal quarter, accounting for 7.6%. This represented a surprise of -1.84% as analysts had expected the region to contribute $149.25 million to the total revenue. In comparison, the region contributed $189.8 million, or 7.6%, and $121.9 million, or 7.7%, to total revenue in the previous and year-ago quarters, respectively.

During the quarter, Greater China contributed $432.2 million in revenue, making up 22.5% of the total revenue. When compared to the consensus estimate of $353.6 million, this meant a surprise of +22.23%. Looking back, Greater China contributed $343.1 million, or 13.7%, in the previous quarter, and $278.9 million, or 17.6%, in the same quarter of the previous year.

Other Asia generated $240.2 million in revenues for the company in the last quarter, constituting 12.5% of the total. This represented a surprise of +4.35% compared to the $230.19 million projected by Wall Street analysts. Comparatively, in the previous quarter, Other Asia accounted for $254.1 million (10.2%), and in the year-ago quarter, it contributed $232.1 million (14.7%) to the total revenue.

Revenue Projections for Overseas MarketsWall Street analysts expect Tapestry to report a total revenue of $1.87 billion in the current fiscal quarter, which suggests an increase of 8.4% from the prior-year quarter. Revenue shares from Other International, Greater China and Other Asia are predicted to be 8.7%, 17.6%, and 10.5%, corresponding to amounts of $163.08 million, $328.39 million, and $196.37 million, respectively.

For the full year, the company is projected to achieve a total revenue of $7.8 billion, which signifies a rise of 11.2% from the last year. The share of this revenue from various regions is expected to be: Other International at 8.4% ($655.28 million), Greater China at 16.6% ($1.29 billion), and Other Asia at 11.3% ($879.61 million).

The Bottom LineRelying on international markets for revenues, Tapestry faces both prospects and perils. Thus, tracking the company's international revenue trends is essential for accurately projecting its future trajectory.

In an environment where global interconnections and geopolitical skirmishes are intensifying, Wall Street analysts keep a keen eye on these trends, particularly for firms with overseas operations, to adjust their earnings predictions. Moreover, a range of other aspects, including how a company fares in its home country, significantly affects these projections.

Emphasizing a company's shifting earnings prospects is a key aspect of our approach at Zacks, especially since research has proven its substantial influence on a stock's price in the short run. This correlation is positively aligned, meaning that improved earnings projections tend to boost the stock's price.

Our proprietary stock rating tool, the Zacks Rank, with its externally validated exceptional track record, harnesses the power of earnings estimate revisions to serve as a dependable measure for anticipating the short-term price trends of stocks.

Tapestry currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

A Look at Tapestry's Recent Stock Price PerformanceThe stock has declined by 11.2% over the past month compared to the 9.1% increase of the Zacks S&P 500 composite. Meanwhile, the Zacks Retail-Wholesale sector, which includes Tapestry,has increased 6.5% during this time frame. Over the past three months, the company's shares have experienced a loss of 13.2% relative to the S&P 500's 7.1% increase. Throughout this period, the sector overall has witnessed a 4.3% increase.

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.

Tapestry (TPR - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this maker of high-end shoes and handbags is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Tapestry is 15.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 36.2% this year, crushing the industry average, which calls for EPS growth of 17.3%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for Tapestry is 10.6%, which is higher than many of its peers. In fact, the rate compares to the industry average of -4.9%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 21.2% over the past 3-5 years versus the industry average of 15%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for Tapestry have been revising upward. The Zacks Consensus Estimate for the current year has surged 7.5% over the past month.

Bottom LineTapestry has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #1 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that Tapestry is a potential outperformer and a solid choice for growth investors.

Tapestry's (TPR) geographic revenue breakdown and capital allocation strategy are key strengths supporting its investment case. Recent P&L performance and management's outlook highlight operational momentum for Tapestry. Valuation concerns persist, as well as macroeconomic headwinds, tempering the otherwise positive thesis.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Tapestry (TPR - Free Report) Founded in 1941 and headquartered in New York, Tapestry, Inc., which was formerly known as Coach, Inc., is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company offers lifestyle products, which include handbags, women’s and men’s accessories, footwear, jewelry, seasonal apparel collections, sunwear, travel bags, fragrance and watches. The company sells through direct-to-consumer, wholesale and licensing channels. Tapestry currently operates under two core brands following portfolio rationalization — Coach and Kate Spade. In third-quarter fiscal 2026, Coach generated $1.70 billion in revenues, while Kate Spade contributed $219.6 million. 

TPR is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. TPR has a Growth Style Score of A, forecasting year-over-year earnings growth of 36.3% for the current fiscal year.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.49 to $6.95 per share. TPR also boasts an average earnings surprise of +15.6%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, TPR should be on investors' short list.

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, June 2:

Gold.com, Inc. (GOLD - Free Report) : This precious metals company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 22.4% over the last 60 days.

Gold.com’s shares gained 26.1% over the last six months compared with the S&P 500’s advance of 10.9%. The company possesses a Momentum Score of A.

Electromed, Inc. (ELMD - Free Report) : This medical device company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.

Electromed’s shares gained 52.7% over the last three months compared with the S&P 500’s advance of 11.5%. The company possesses a Momentum Score of A.

Tapestry, Inc. (TPR - Free Report) : This lifestyle brand and accessories company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.8% over the last 60 days.

Tapestry’s shares gained 24% over the last six months compared with the S&P 500’s advance of 10.9%. The company possesses a Momentum Score of B.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Learn more about the Momentum score and how it is calculated here.

Key Takeaways Tapestry's direct-to-consumer business grew 23% y/y, with digital sales up about 25%.TPR added more than 2.4 million customers globally, with Gen Z being a key growth driver.Coach added about 2 million customers; Greater China revenues rose 55%, led by digital channels. Tapestry, Inc. (TPR - Free Report) continues to leverage digital capabilities as a major growth driver, helping the company deepen consumer engagement, attract customers and expand market share globally. In the third quarter of fiscal 2026, Tapestry delivered 23% growth in its direct-to-consumer business, including an approximately 25% increase in digital sales. Management noted that both online and physical stores generated strong and rising profitability, highlighting the effectiveness of its omnichannel strategy.

The company’s digital ecosystem is closely tied to its consumer-focused operating model. During the quarter, Tapestry acquired more than 2.4 million customers globally, with Gen Z remaining a key contributor to growth. Through data-driven consumer insights, targeted digital marketing and personalized engagement, the company has strengthened customer retention and repeat purchasing behavior. Management emphasized that engaging consumers early supports higher lifetime value and creates a durable competitive advantage.

Coach continued to lead digital momentum, adding approximately 2 million customers during the quarter. The brand increased marketing investments by about 50% year over year, with a greater focus on digital brand-building initiatives. Its “Explore Your Story” campaign, inspired by Gen Z’s interest in storytelling and self-expression, generated strong engagement and helped reinforce emotional connections with consumers across key markets.

Digital strength was particularly evident in Greater China, where revenues soared 55% year over year. Management highlighted that growth was led by digital channels, supported by creative campaigns, localized activations and focused investments aimed at younger consumers. The company’s partnership with streetwear brand CLOT and immersive consumer experiences further boosted engagement and customer acquisition.

Tapestry plans to continue investing in technology and digital infrastructure to enhance customer experiences, improve operational efficiency and support sustainable long-term growth.

TPR’s Price Performance, Valuation & EstimatesShares of Tapestry have surged 78.6% in the past year compared with the industry’s growth of 5.5%.

Image Source: Zacks Investment Research

From a valuation standpoint, TPR trades at a forward price-to-earnings ratio of 18.62X, up from the industry’s average of 14.87X. 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Tapestry’s fiscal 2027 earnings implies year-over-year growth of 36.3%, whereas the same for fiscal 2028 indicates an uptick of 9.5%. Earnings estimates for fiscal 2027 and 2028 have been increased by 46 cents and 50 cents, respectively, in the past 30 days.

Image Source: Zacks Investment Research

TPR currently flaunts a Zacks Rank #1 (Strong Buy).

Other Key PicksSome other top-ranked stocks are Genesco Inc. (GCO - Free Report) , Levi Strauss & Co. (LEVI - Free Report) and Fossil Group, Inc. (FOSL - Free Report) .

Genesco is a specialty retail and branded company that sells footwear and accessories in retail stores. The company sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Genesco’s current fiscal-year earnings implies growth of 55.2% from the year-ago actual. GCO delivered a trailing four-quarter average earnings surprise of 3.8%.

Levi Strauss designs and markets jeans, casual wear and related accessories for men, women and children. It currently carries a Zacks Rank of 2 (Buy).

The Zacks Consensus Estimate for Levi Strauss’ current fiscal-year earnings and sales suggests growth of 11.9% and 5.2%, respectively, from the year-ago actuals. LEVI delivered a trailing four-quarter average earnings surprise of 21.4%.

Fossil Group is involved in designing, marketing and distributing consumer fashion accessories. The company has a Zacks Rank #2 at present.

The Zacks Consensus Estimate for Fossil Group’s current financial-year earnings and sales indicates growth of 87.6% and a decline of 4.9%, respectively, from the year-ago actuals. FOSL delivered a negative trailing four-quarter average earnings surprise of 381.8%.

Rising coal, crude oil, and natural gas prices could drive sustained demand for solar farm construction, regardless of federal tax incentives. AI data center growth and any renewed surge in EV sales could accelerate electricity demand, supporting long-term solar adoption. Solar farms offer a stable 20 to 30-year cost structure, increasingly attractive to utilities and large power users.

A group representing U.K. pension funds is joining other investors in supporting a resolution to be voted on at BP's shareholder meeting later this month.

Fossil Group (FOSL - Free Report) shares soared 8.3% in the last trading session to close at $5.2. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.1% gain over the past four weeks.

Fossil is sharpening execution with a brand-led, consumer-centric turnaround: more full-price selling, tighter costs, stronger innovation, and momentum in the U.S. and India—supporting margin gains and durable growth.

This watch and accessories maker is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -120%. Revenues are expected to be $205.3 million, down 12% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Fossil Group, the consensus EPS estimate for the quarter has been revised 236.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FOSL going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Fossil Group is a member of the Zacks Retail - Apparel and Shoes industry. One other stock in the same industry, Urban Outfitters (URBN - Free Report) , finished the last trading session 5.4% higher at $68.22. URBN has returned -1.7% over the past month.

Urban Outfitters' consensus EPS estimate for the upcoming report has changed -1.5% over the past month to $1.12. Compared to the company's year-ago EPS, this represents a change of -3.5%. Urban Outfitters currently boasts a Zacks Rank of #3 (Hold).

Fossil Group is deeply undervalued, with its India subsidiary alone potentially worth 4–5x the parent's market cap. I target FOSL at $21.5/share, a +300% upside, driven by the India IPO catalyst and turnaround progress. Gross margin surged to 55.9% in 2025 as FOSL shifted to full-price sales, halted losses, and cut $250M in expenses.

First quarter worldwide net sales totaled $225 million

Gross margin of 59.9%

First quarter operating income of $12 million and operating margin of 5.4%; constant currency adjusted operating income of $10 million and constant currency adjusted operating margin of 4.4%

Reiterates 2026 outlook

RICHARDSON, Texas, May 13, 2026 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) today announced financial results for the first quarter ended April 4, 2026.

“We are pleased to begin the year with outperformance on the top and bottom line, fueled by strong execution against our turnaround and healthy watch industry trends,” said Franco Fogliato, CEO. “Strong consumer response to our product innovation and compelling brand storytelling drove notable performance across channels, core brands and key geographies. We remain confident in our full year outlook, including a return to top line growth in the fourth quarter, and believe our proven strategies and structural advantages position us to drive long-term profitable growth and value creation.”

First Quarter 2026 Operating Results

Amounts referred to as “adjusted” as well as “constant currency” are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to their closest reported GAAP measures are included at the end of this press release.

Net sales totaled $224.8 million, a decrease of 3.6% on a reported basis and 6.5% in constant currency compared to $233.3 million in the first quarter of fiscal 2025. Sales were unfavorably impacted by 690 basis points as a result of the fiscal 2026 first quarter including 13 weeks as compared to 14 weeks in the prior year quarter. Our store rationalization initiatives and declines in our smartwatch sales comprised approximately 280 basis points of the sales decline in the first quarter. Net sales, in constant currency, declined 14% in Europe, 3% in the Americas, and 1% in Asia. Wholesale sales increased 5% while our direct to consumer sales decreased 29%, each on a constant currency basis. Within our direct to consumer channels, comparable retail sales declined 15%. In our major product categories, traditional watch sales were approximately flat in constant currency in the first quarter compared to the prior year period. The leathers category decreased 41% and jewelry sales declined 14% in constant currency during the first quarter. From a brand lens, ARMANI EXCHANGE, MICHAEL KORS and DIESEL increased while FOSSIL brand sales in constant currency decreased 17% in the first quarter.
Gross profit totaled $134.7 million compared to $143.0 million in the first quarter of 2025. Gross margin decreased 140 basis points to 59.9% versus 61.3% a year ago. The year-over-year decrease in the first quarter as compared to the prior year primarily reflects increased tariffs and the accelerated timing of licensed brand minimum royalty recognition. This decrease was partially mitigated by tariff refund claims recorded during the current year, which contributed positively to the margin by $4.0 million, including $2.8 million related to tariffs incurred in fiscal year 2025.
Operating expenses totaled $122.7 million, down 18.1% compared to the prior year period. As a percentage of net sales, operating expenses were 54.6% in the first quarter of 2026 compared to 64.2% in the prior year first quarter. Operating expenses in the first quarter of 2026 included $2.0 million of restructuring costs, primarily related to employee costs and professional services, while operating expenses in the first quarter of 2025 included $15.8 million of restructuring costs. SG&A expenses were $120.6 million, down 9.9% compared to the first quarter of 2025. As a percentage of net sales, SG&A expenses were 53.6% in the first quarter of 2026 compared to 57.4% in the prior year first quarter, largely driven by cost reductions and efficiencies gained through our restructuring programs. SG&A also benefited from tariff refund claims recorded during the first quarter, decreasing SG&A by $0.9 million, including $0.8 million related to tariffs incurred in fiscal year 2025.
Operating income (loss) was $12.0 million compared to ($6.7) million in the first quarter of 2025. Operating margin of 5.4% in the first quarter of 2026 compared to (2.9)% in the prior year first quarter. Constant currency adjusted operating income totaled $9.5 million compared to adjusted operating income of $9.2 million in the first quarter of 2025. Constant currency adjusted operating margin was 4.4% in the first quarter of 2026 compared to adjusted operating margin of 3.9% in the prior year first quarter.
Interest expense was $8.5 million compared to $4.5 million in the first quarter of 2025 due to increased debt issuance cost amortization, higher debt balances and increased interest rates.
Other income (expense) was income of $1.2 million compared to expense of $3.3 million in the first quarter of 2025, reflecting net currency gains in the first quarter of 2026 as compared to net currency losses in the prior year first quarter.
Income (loss) before income taxes was $4.8 million compared to $(14.5) million in the first quarter of 2025.
Adjusted EBITDA was $14.5 million, or 6.5% of net sales in the first quarter of 2026 and $9.1 million, or 3.9% in the prior year period.
Provision (benefit) for income taxes was an expense of $5.4 million, resulting in an effective income tax rate of 114.2% compared to an expense of $3.4 million and an effective tax rate of (23.3)% in the prior year. The effective tax rate in the first quarter of 2026 differed from the prior year first quarter primarily due to a change in the Company’s global mix of earnings.
Net loss totaled $0.8 million with net loss per diluted share of $0.01, which compares to a net loss of $17.6 million and net loss per diluted share of $0.33 in the prior year period. Adjusted net loss for the first quarter was $1.9 million with adjusted net loss per diluted share of $0.03 compared to adjusted net loss of $5.0 million with adjusted net loss per diluted share of $0.10 in the prior year period. During the first quarter of 2026, currencies favorably affected net loss per diluted share by approximately $0.10. Balance Sheet Summary

As of April 4, 2026, the Company had total liquidity of $109.5 million, including $81.4 million of cash and cash equivalents and $28.1 million of availability under its revolving credit facility. Inventories at the end of the first quarter of 2026 totaled $156.1 million, a decrease of 14.3% versus a year ago. Total debt was $195.3 million.

Financial Outlook

The Company reiterated the following financial guidance for full year 2026:

Worldwide net sales to decline 4% to 6%, with a return to growth in the fourth quarterAdjusted operating margin(1) in the range of 3% to 5%Free cash flow break-even(2)

Worldwide net sales and adjusted operating margin guidance exclude impacts from foreign currency.

(1) A reconciliation of adjusted operating margin, a non-GAAP financial measure, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the high variability and low visibility of certain income and expense items that are excluded in calculating adjusted operating margin.

(2) Free cash flow is a non-GAAP financial measure, defined as net cash from operating activities less net cash used in investing activities. A corresponding reconciliation of free cash flow to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable effort.

Conference Call Information

Fossil Group will host a conference call to discuss these results at 5:00 p.m. Eastern Time today, May 13, 2026. A live webcast of the conference call will be available on the investor relations section of Fossil Group’s website at https://www.fossilgroup.com/investors and will also be archived for replay.

Safe Harbor

This press release and related statements by our management contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements include, without limitation, statements regarding our current assumptions, projections and expectations about our business, financial outlook, Turnaround Plan and future events. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond our control. The inclusion of such information should not be regarded as a representation by the company, or any other person, that the expectations of the company will be achieved. Words such as “estimate,” “project,” “plan,” “goal,” “believe,” “expect,” “anticipate,” “intend,” “should,” “are confident,” “will,” “could,” “outlook,” and similar expressions may identify forward-looking statements. Except as may be required by applicable law, we assume no obligation to publicly update or revise any forward-looking statements, including any financial targets, projections, estimates, or performance outlook, whether as a result of new information, future events, or otherwise. Factors that may cause actual results to differ from those expressed in our forward-looking statements include, but are not limited to, the factors disclosed in Part I, Item 1A. “Risk Factors” of the company’s most recent Annual Report on Form 10-K, and in our subsequent reports and filings with the Securities and Exchange Commission, as well as the following factors: increased political uncertainty; acts of war, military actions or acts of terrorism; the effect of worldwide economic conditions; lower levels of consumer spending resulting from inflation, a general economic downturn or generally reduced shopping activity caused by public safety or consumer confidence concerns; government regulation and tariffs; risks related to the success of our Turnaround Plan and goals; significant changes in consumer spending patterns or preferences; interruptions or delays in the supply of key components or products; the termination or non-renewal of significant license agreements; loss or shut down of key facilities; a data security or privacy breach or information systems disruptions; changes in foreign currency valuations in relation to the U.S. dollar; compliance with debt covenants and other contractual provisions and meeting debt service obligations; risks related to the success of our business strategy; impact of any minimum royalty commitments in excess of royalties payable on actual sales; risks related to foreign operations and manufacturing; the effect of any pandemic; changes in the costs of materials and labor; levels of traffic to and management of our retail stores; loss of key personnel or failure to attract and retain key employees and the outcome of current and possible future litigation. Readers of this press release should consider these factors in evaluating, and are cautioned not to place undue reliance on, the forward-looking statements contained herein.

About Fossil Group, Inc.

Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, Michael Kors, Skechers and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.

Investor Relations:Christine Greany The Blueshirt Group [email protected] Consolidated Income Statement Data For the 13
Weeks Ended For the 14
Weeks Ended($ in millions, except per share data): April 4, 2026 April 5, 2025Net sales $224.8  $233.3 Cost of sales  90.1   90.3 Gross profit  134.7   143.0 Gross margin (% of net sales)  59.9%  61.3%Operating expenses:    Selling, general and administrative expenses  120.6   133.8 Other long-lived asset impairments  0.1   0.1 Restructuring charges  2.0   15.8 Total operating expenses $122.7  $149.7 Total operating expenses (% of net sales)  54.6%  64.2%Operating income (loss)  12.0   (6.7)Operating margin (% of net sales)  5.4%  (2.9)%Interest expense  8.5   4.5 Other income (expense) – net  1.3   (3.3)Income (loss) before income taxes  4.8   (14.5)Provision for income taxes  5.4   3.4 Less: Net income attributable to noncontrolling interest  0.2   (0.3)Net income (loss) attributable to Fossil Group, Inc. $(0.8) $(17.6)Earnings per share:    Basic $(0.01) $(0.33)Diluted $(0.01) $(0.33)Weighted average common shares outstanding:    Basic  58.4   53.3 Diluted  58.4   53.3  Consolidated Balance Sheet Data ($ in millions): April 4, 2026
 April 5, 2025
Assets:      Cash and cash equivalents $81.4  $78.3 Accounts receivable – net  116.8   124.6 Inventories  156.1   182.1 Other current assets  81.6   97.5 Total current assets  435.9   482.5 Property, plant and equipment – net  32.5   40.2 Operating lease right-of-use assets  120.0   117.3 Intangible and other assets – net  66.1   46.0 Total long-term assets  218.6   203.5 Total assets $654.5  $686.0        Liabilities and stockholders’ equity:      Accounts payable, accrued expenses and other current liabilities $251.0  $250.3 Short-term debt  2.3   12.3 Total current liabilities  253.3   262.6 Long-term debt  193.0   167.2 Long-term operating lease liabilities  104.4   109.8 Other long-term liabilities  20.6   22.0 Total long-term liabilities  318.0   299.0 Stockholders’ equity  83.2   124.4 Total liabilities and stockholders’ equity $654.5  $686.0 
Constant Currency Financial Information

The following tables present the Company’s business segment and product net sales, gross profit and selling, general and administrative expenses on a constant currency basis which are non-GAAP financial measures. To calculate these items on a constant currency basis, net sales, gross profit and selling, general and administrative expenses for the current fiscal year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average rates during the comparable period of the prior fiscal year. The Company presents constant currency information to provide investors with a basis to evaluate how its underlying business performed excluding the effects of foreign currency exchange rate fluctuations. The constant currency financial information presented herein should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

  Net Sales
For the 13 weeks ended April 4, 2026
 For the 14 weeks ended April 5, 2025
($ in millions) As Reported
 Impact of Foreign Currency Exchange Rates Constant Currency
 As Reported
Segment:           Americas $96.8  $(1.8) $95.0  $97.7 Europe  71.5   (5.4)  66.1   77.3 Asia  56.0   0.6   56.6   57.4 Corporate  0.5   (0.1)  0.4   0.9 Total net sales $224.8  $(6.7) $218.1  $233.3             Product Categories:           Watches:           Traditional watches $188.8  $(5.1) $183.7  $184.6 Smartwatches  1.7   —   1.7   4.0 Total watches $190.5  $(5.1) $185.4  $188.6 Leathers  10.6   (0.4)  10.2   17.2 Jewelry  20.1   (1.0)  19.1   22.3 Other  3.6   (0.2)  3.4   5.2 Total net sales $224.8  $(6.7) $218.1  $233.3    For the 13 weeks ended April 4, 2026
 For the 14 weeks ended April 5, 2025
($ in millions) As Reported
 Impact of Foreign Currency Exchange Rates Constant Currency
 As Reported
Gross profit $134.7  $(4.5) $130.2  $143.0 Selling, general and administrative expenses $120.6  $(3.5) $117.1  $133.8 
Adjusted EBITDA, Adjusted operating income (loss), Constant Currency Adjusted Operating Income (Loss), Adjusted net income (loss) and Adjusted earnings (loss) per share

Adjusted EBITDA, adjusted operating income (loss), constant currency adjusted operating income (loss), adjusted net income (loss) and adjusted earnings (loss) per share are non-GAAP financial measures. We define adjusted EBITDA as our net income (loss) before the impact of income tax expense (benefit), plus interest expense, amortization and depreciation, impairment expense, other non-cash charges, stock-based compensation expense, restructuring expense and unamortized debt issuance costs included in loss on extinguishment of debt minus IEEPA refund claims for tariffs incurred in the prior year, interest income and gains on asset divestitures. We define adjusted operating income (loss) as operating income (loss) before impairment expense, restructuring expense, IEEPA refund claims for tariffs incurred in the prior year and gains on asset divestitures. We define constant currency adjusted operating income (loss) as operating income (loss) before impairment expense, restructuring expense, IEEPA refund claims for tariffs incurred in the prior year and gains on asset divestitures and excluding the effects of foreign currency exchange rate fluctuations. We define adjusted net income (loss) and adjusted earnings (loss) per share as net income (loss) attributable to Fossil Group, Inc. and diluted earnings (loss) per share, respectively, before impairment expense, restructuring expense, IEEPA refund claims for tariffs incurred in the prior year, gains on asset divestitures and unamortized debt issuance costs included in loss on extinguishment of debt. We have included adjusted EBITDA, adjusted operating income (loss), constant currency adjusted operating income (loss), adjusted net income (loss) and adjusted earnings (loss) per share herein because they are widely used by investors for valuation and for comparing our financial performance with the performance of our competitors. We also use both non-GAAP financial measures to monitor and compare the financial performance of our operations. Our presentation of adjusted EBITDA, adjusted operating income (loss), adjusted net income (loss) and adjusted earnings (loss) per share may not be comparable to similarly titled measures other companies report. Adjusted EBITDA, adjusted operating income (loss), adjusted net income (loss) and adjusted earnings (loss) per share are not intended to be used as alternatives to any measure of our performance in accordance with GAAP.

The following tables reconcile Adjusted EBITDA to the most directly comparable GAAP financial measure, which is income (loss) before income taxes. Certain line items presented in the tables below, when aggregated, may not foot due to rounding.

  Fiscal 2025 Fiscal 2026
  ($ in millions): Q2 Q3 Q4 Q1
 TotalIncome (loss) before income taxes $4.1  $(32.1) $(7.3) $4.8  $(30.5)Plus:           Interest expense  4.3   4.2   7.3   8.5   24.3 Amortization and depreciation  3.0   3.3   3.3   1.8   11.4 Other long-lived asset impairments  —   0.5   1.0   0.1   1.6 Other non-cash charges  (0.5)  0.2   (0.8)  0.3   (0.8)Stock-based compensation  0.6   0.6   0.5   0.7   2.4 Restructuring expense  7.3   6.8   10.7   2.0   26.8 Loss on extinguishment of debt  —   1.7   1.4   —   3.1 Less:           IEEPA tariff refund claims  —   —   —   3.6   3.6 Gains on asset divestitures  11.5   —   —   —   11.5 Interest income  0.3   0.2   0.3   0.1   0.9 Adjusted EBITDA $7.0  $(15.0) $15.8  $14.5  $22.4    Fiscal 2024 Fiscal 2025  ($ in millions): Q2 Q3 Q4 Q1 TotalIncome (loss) before income taxes $(36.6) $(25.8) $(25.2) $(14.5) $(102.1)Plus:          Interest expense  4.1   4.9   4.9   4.5   18.4 Amortization and depreciation  3.9   3.8   3.8   3.4   14.9 Impairment expense  0.6   1.0   0.6   —   Other long-lived asset impairments  —   —   —   0.1   0.1 Other non-cash charges  0.1   (0.5)  3.7   0.2   3.5 Stock-based compensation  0.6   0.6   0.7   0.6   2.5 Restructuring expense  16.7   4.8   28.2   15.8   65.5 Restructuring cost of sales  —   —   7.5   —   7.5 Less:          Gains on asset divestitures  —   3.3   —   —   3.3 Interest income  1.1   1.1   1.1   1.0   4.3 Adjusted EBITDA $(11.7) $(15.6) $23.1  $9.1  $6.0 
The following tables reconcile both Adjusted operating income (loss) and Constant currency adjusted operating income (loss), Adjusted net income (loss) and Adjusted earnings (loss) per share to the most directly comparable GAAP financial measures, which are operating income (loss), net income (loss) attributable to Fossil Group, Inc. and diluted earnings (loss) per share, respectively. Certain line items presented in the table below, when aggregated, may not foot due to rounding.

 For the 13 Weeks Ended April 4, 2026  ($ in millions, except per share data):As ReportedOther Long-Lived Asset Impairment
Restructuring Expenses
IEEPA Tariff Refund ClaimsAs Adjusted Reported CurrencyImpact of Foreign Currency Exchange RatesConstant Currency As AdjustedOperating income (loss)$12.0 $0.1 $2.0 $(3.6)$10.5 $(1.0)$9.5 Operating margin (% of net sales) 5.4%      4.7%  4.4%Interest expense 8.5  —  —  —  8.5   Other income (expense) – net 1.2  —  —  —  1.2   Income (loss) before income taxes 4.8  0.1  2.0  (3.6) 3.3   Provision (benefit) for income taxes 5.4  —  0.4  (0.8) 5.0   Less: Net income attributable to noncontrolling interest 0.1  —  —  —  0.1   Net income (loss) attributable to Fossil Group, Inc.$(0.8)$0.1 $1.6 $(2.8)$(1.9)  Diluted earnings (loss) per share$(0.01)$— $0.03 $(0.05)$(0.03)     For the 14 Weeks Ended April 5, 2025($ in millions, except per share data): As Reported Other Long-Lived Asset Impairment
 Restructuring Expenses
 As Adjusted Reported CurrencyOperating income (loss) $(6.7) $0.1  $15.8  $9.2 Operating margin (% of net sales)  (2.9)%        3.9%Interest expense  4.5   —   —   4.5 Other income (expense) - net  (3.3)  —   —   (3.3)Income (loss) before income taxes  (14.5)  0.1   15.8   1.4 Provision (benefit) for income taxes  3.4   —   3.3   6.7 Less: Net income attributable to noncontrolling interest  (0.3)  —   —   (0.3)Net income (loss) attributable to Fossil Group, Inc. $(17.6) $0.1  $12.5  $(5.0)Diluted earnings (loss) per share $(0.33) $—  $0.23  $(0.10)
Store Count Information

  April 5, 2025
 Opened
 Closed
 April 4, 2026
Americas 102  0  10  92 Europe 55  0  8  47 Asia 63  1  10  54 Total stores 220  1  28  193 

This Is What To Expect From The Q2 Reporting Cycle Fossil Group NASDAQ: FOSL executives said the company’s turnaround efforts continued to gain traction in the first quarter of fiscal 2026, supported by wholesale strength, improving traditional watch demand and continued expense discipline.

Chief Executive Officer Franco Fogliato said Fossil began the year with “strong financial performance” and that its turnaround pillars are “delivering results today while advancing our path to long-term profitable growth.” In his prepared remarks, Fogliato cited net sales of $280 million, gross margin of 59.7% and adjusted operating income of $10 million.

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Fossil Group: Should You Bet On Consumer Discretionary In 2023? Chief Financial Officer Randy Greben later said first-quarter net sales totaled $218 million, down 6% from a year earlier. Greben said the year-over-year comparison included a 7-point unfavorable impact from the absence of an extra week in last year’s first quarter, along with another 280 basis points tied to store closures and Fossil’s exit from smartwatches. He said first-quarter gross margin was 69.7%, down 160 basis points from a year earlier, while adjusted operating income was $10 million, compared with $9 million a year ago.

Wholesale and Traditional Watches Lead First-Quarter Momentum Fogliato said top-line results came in better than the company expected, led by strong wholesale performance, core brands, key geographies and “notable strength in traditional watches.” In the wholesale channel, Fossil grew mid-single digits, while core brand traditional watch sales rose high single digits, he said.

During the question-and-answer session, Maxim Group analyst Thomas Forte asked about the sustainability of the return to growth in traditional watches. Fogliato said the company was encouraged by its performance in wholesale, higher average unit retail and stronger gross margin. He also cited industry tailwinds, particularly in the Americas, where Fossil is seeing “a lot of younger consumer coming back to the space.”

Greben added that the combination of stronger traditional watch demand and full-price selling was flowing through to gross margin and the bottom line, calling it “a tangible proof point of the strategy coming together.”

Fossil Leans Into Brand Storytelling and Product Launches Fogliato said Fossil is working to strengthen its brand platform through innovation, consumer engagement, growth in traditional watches and renewed focus on jewelry and leather. He highlighted the relaunch of Fossil’s Big Tic watch, which he said drew on the company’s archives and generated visibility from lifestyle media and watch industry publications.

The company said Big Tic resonated with younger male consumers and helped drive social engagement and online conversion among Gen Z and Millennial shoppers. Fossil has followed the launch with a limited-edition Big Tic World Flags collection tied to global sports moments, and recently released a Star Wars collaboration featuring The Mandalorian and Grogu. Fogliato said a Marvel collaboration is planned for the third quarter.

Northland Capital Markets analyst Owen Rickert asked whether Big Tic was creating a halo effect for the broader Fossil brand. Fogliato said the strategy was to use Fossil’s archives to bring consumers back to the brand while shifting away from promotional activity toward full-price selling. He said Big Tic was intended to drive brand heat and support sales across Fossil’s “icons.”

Store Closures Continue, but Pace Slows as Full-Price Stores Improve Fossil continued to reshape its direct-to-consumer business during the quarter. Fogliato said the company closed seven stores in Q1 and remains on track to close about 15 locations in 2026. Greben said that would leave Fossil with 185 global stores at year-end.

However, Fogliato said Fossil has “significantly scaled back” its plans to downsize the store portfolio because of improving performance in full-price stores. He said comparable-store performance was particularly strong in that part of the retail business.

On e-commerce, Fogliato said Fossil is focused on channel profitability on a smaller sales base by maintaining full-price selling and improving the online customer journey. He pointed to a new global navigation system on Fossil’s e-commerce site that is designed to support richer storytelling, improve product discovery and give merchandising teams more flexibility.

Licensing, India and Operating Model Updates Fogliato said Fossil’s core licensed brands are also contributing to momentum, including Armani Group, Diesel and Michael Kors. He said Michael Kors returned to year-over-year growth in the quarter, aided by wholesale productivity, newness and a more competitive jewelry pricing structure. Emporio Armani saw strong sell-through across channels, while Armani Exchange benefited from higher full-price sales, women’s product strength and newness, he said.

In India, Fogliato said Fossil added more than 70 wholesale doors during the quarter, introduced new price points that increased full-price mix and average unit retail, and implemented a new e-commerce platform and CRM integration tool. Asked about macro concerns in the region, Fogliato called India “one of our strongest assets” and said Fossil maintains a leading position in a growing watch category.

Fossil also continues to simplify its operating model. Fogliato said the company is streamlining operations, rationalizing investments and consolidating its IT stack. After quarter-end, Fossil signed an agreement to transition its South Africa subsidiary to a distributor model, which executives said is intended to reduce operating expenses and improve gross profit flow-through.

Guidance Reiterated Despite Geopolitical Uncertainty Greben said Fossil is reiterating its fiscal 2026 outlook, despite results to date running ahead of expectations, because of uncertainty in the geopolitical environment and potential effects on input costs and consumer behavior.

Worldwide net sales are still expected to decline 4% to 6%. The net impact of store closures and the extra week in 2025 is expected to be about 360 basis points. Adjusted operating margin is still expected to be in the range of 3% to 5%. The company continues to expect breakeven free cash flow for the full year. Greben said Fossil expects 2026 to be weighted toward the second half, with a return to top-line growth anticipated in the fourth quarter. The company ended the quarter with $81 million in cash and cash equivalents, $28 million of availability under its asset-based revolver and no utilization under its at-the-market program. Inventory was $156 million, down 14% from a year earlier.

“With only one quarter of the year delivered, we are holding our guidance in light of the geopolitical climate and its potential impact on the consumer,” Fogliato said. “We continue to have strong conviction in the trajectory of the business.”

About Fossil Group NASDAQ: FOSLFossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group's wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Fossil Group Right Now?Before you consider Fossil Group, you'll want to hear this.

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May 19, 2026 16:05 ET  | Source: Fossil Group, Inc.

RICHARDSON, Texas, May 19, 2026 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) announced today that the Company will participate in the TD Cowen 10th Annual Future of the Consumer Conference, being held at the Lotte New York Palace Hotel in New York City, on June 3, 2026. Franco Fogliato, Chief Executive Officer, and Randy Greben, Chief Financial Officer, will meet with investors throughout the day.

About Fossil Group, Inc.

Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, Michael Kors, Skechers and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories, and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.    

Investor Relations Contact:         

Christine Greany         
The Blueshirt Group         
[email protected]

Rivian Automotive, Inc. (RIVN) Presents at UBS Auto and Auto Tech Conference 2026 Transcript

Rivian (RIVN +7.85%) is making big moves. For example, it has increased capacity at its Georgia plant to 300,000 vehicles. It got another $1 billion in cash from key partner Volkswagen. And it provided employees with the first batch of its new, mass-market focused R2 trucks. The R2 could be a make-or-break product for the company.

Rivian is at a pivotal point in its development Rivian started with high-end trucks, which proved it could build electric vehicles at scale. It has also generated a gross profit, proving that it can sell its trucks for more than it costs to build them. However, the scale of the business needs to expand if the company hopes to turn sustainably profitable. Ramping up production is the big goal with the R2, which costs less than the high-end R1 truck already in production.

Image source: Rivian.

Essentially, the company needs to spread its operating costs over more vehicles. This is the same path Tesla (TSLA +1.65%) took to become sustainably profitable. Rivian has strong backers, including Volkswagen, and ample cash, noting that it expects to receive the first advance on a $4.5 billion loan from the U.S. government in early 2027. The R2 is coming to market, and Rivian will have plenty of financial leeway to see the effort through.

Rivian's big question mark: Will consumers buy the R2? Rivian's stock has fallen roughly 90% from its post IPO highs. Investor enthusiasm for the EV sector has cooled off, noting that every major auto company is now playing in the space. Competition is more fierce than it was when Tesla built its business. So it is reasonable that Wall Street is taking a show-me attitude with Rivian.

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That said, the company has executed very well as a business. And it could be on the brink of an important business change. It all depends on how well the R2 is received. If consumers buy the new truck, Rivian could turn into a millionaire-making stock. If consumers don't buy the R2, well, Rivian's future will be cloudy, at best.

Most investors should probably wait for early R2 sales results When you step back and look at the big picture, Rivian is a high-risk start-up. Only the most aggressive investors should probably buy it. Most investors should adopt the same show-me attitude that the market has taken. However, if you are adventurous and believe the R2 will be a success, buying now before sales figures for the new truck roll in will likely maximize your upside.

SpaceX's initial public offering is now officially imminent. Its final pricing is expected on June 11, with public trading to begin on June 12. The latest word is that the company aims to raise $75 billion by selling 555.6 million shares at $135 apiece, implying a corporate valuation of $1.75 trillion.

That would make it the biggest IPO ever in terms of the total amount of money raised, and in terms of market capitalization at the time the public offering is made. Indeed, that valuation would instantaneously make SpaceX the world's ninth biggest publicly traded company, right behind Broadcom, and just ahead of Elon Musk's other company, Tesla.

Almost needless to say, expectations are high.

This begs the question: What were the biggest U.S.-listed initial public offerings up until this point, and how did they perform out of the gate?

Uber Technologies IPO date: May 10, 2019
Amount raised: $8.1 billion
Initial valuation: $82.4 billion

Ride-hailing outfit Uber Technologies (UBER 1.01%) arguably waited just a little too long to go public. While the company was still satisfied with its result in early 2019, insiders were disappointed with a final price that came in nearer the bottom of its suggested price range. Had it happened just a few months earlier -- when the hype surrounding the company was stronger -- Uber might have fared better.

Things worked out better in the long run for its earliest shareholders, though, letting them in at a lower price in front of a 58% gain since its IPO.

UBER data by YCharts.

Uber shares were losing ground shortly after the initial hype faded, but before the onset of the COVID-19 pandemic in early 2020 brought the world to a screeching halt, including companies' businesses. We'll never know for sure if the capitulation in March 2020 was caused by the contagion, or if it was going to happen anyway.

AT&T Wireless IPO date: April 27, 2000
Amount raised: $10.6 billion
Initial valuation: $68.1 billion

Contrary to a common assumption, the AT&T Wireless of the early 2000s isn't really the AT&T (T +2.52%) of today. In fact, AT&T Wireless was technically a spinoff from AT&T that would go on to be acquired by Cingular in 2004. Cingular was part of SBC Communications, which would also eventually acquire the rest of AT&T anyway, and use the familiar name as an umbrella for all of its businesses. It's also been through several evolutions in the meantime, including the acquisition and eventual sale of DirecTV, as well as the purchase and exit of entertainment giant Time Warner.

That's why any lookback at this stock's post-IPO performance would be meaningless. Making it even more meaningless is the fact that it happened right at the beginning of the tech-wreck of 2000. It wasn't a publicly traded outfit long enough to really matter.

Image source: Getty Images.

For what it's worth, though, AT&T Wireless' IPO was still record-breaking at the time.

Rivian Automotive IPO date: Nov. 10, 2021
Amount raised: $11.9 billion
Initial valuation: $66.5 billion

Although it happened smack-dab in the middle of the coronavirus contagion, that was actually a brilliant time for electric vehicle up-and-comer Rivian Automotive (RIVN +7.85%) to go public. Interest in stocks was high, and investor interest in electric vehicle manufacturers was particularly pronounced.

Unfortunately, that apparent bullishness would implode shortly thereafter. RIVN shares peaked just a few days after the company's IPO, leading into a sell-off that still has this stock valued 77% below its public offering price of $78.

RIVN data by YCharts.

Deutsche Telekom IPO date: Nov. 18, 1996
Amount raised: €10.0 billion ($13 billion)
Initial valuation: $50 billion

Yes, Deutsche Telekom (DTEGY +0.95%) is a German company serving the German market. It's got strong links to the U.S. market, though, and was very much a U.S. stock when the state-owned telecom carrier went public with a New York Stock Exchange (NYSE) listing in November 1996. The company is still the majority owner of American wireless powerhouse T-Mobile, and is currently even exploring the prospect of a full-blown merger of the two wireless outfits.

The NYSE listing of this ADR (American depositary receipt), created in conjunction with its listing in Germany, has since been downgraded to an over-the-counter -- or OTC -- issue. The stock hasn't performed particularly well since tumbling during, and because of, the dot-com meltdown of 2000.

DTEGY data by YCharts.

There's no denying that it had a very strong start, even if it was fueled by the unsustainably bullish hype that was starting to firm up in the latter half of the 1990s.

General Motors IPO date: Nov. 17, 2010
Amount raised: $20.1 billion
Initial valuation: $63 billion

It's true! The General Motors (GM +0.80%) of today has only been publicly traded since late 2010. There's some important context to remember. The old General Motors went bankrupt in 2009, forcing a reorganization that led to the creation of brand new shares.

Regardless, at the time of their public debut, their sale represented the stock market's largest-ever fundraising.

They've performed pretty well in the meantime, too. Although they ran into a headwind in early 2011 that would linger into and through most of 2012, shares are now up a little over 150% since then. That's pretty impressive for an automobile maker.

GM data by YCharts.

Facebook IPO date: May 18, 2012
Amount raised: $16 billion
Initial valuation: $104 billion

Meta Platforms (META 0.14%) -- back when it was still just Facebook -- tells one of the market's most cautionary tales about insisting on buying newly minted stocks as soon as you can. It tumbled right out of the gate, falling more than 50% over the course of the 18 weeks following its May 2012 public offering.

META data by YCharts.

Granted, it's since gone on to gain more than 1,600% from its public offering price, clearly paying off for patient shareholders.

Visa IPO date: March 19, 2008
Amount raised: $19.1 billion
Initial valuation: $39 billion

Although it's been around seemingly forever, credit card payment network giant Visa (V +0.93%) has only been publicly traded since early 2008. It's done very well during this 18-year stretch, surging immediately after its shares began trading on the NYSE.

V data by YCharts.

Now look more closely at the chart above. While it rallied right out of the gate and is well up for the entirety of its existence, less than three months after its IPO, it was down more than 50% from its post-IPO peak.

Even so, at the time, its public offering broke U.S. fundraising records.

Alibaba IPO date: Sept. 18, 2014
Amount raised: $25 billion
Initial valuation: $167.7 billion

Finally, add China's e-commerce powerhouse Alibaba (BABA +0.02%) to the list of the biggest-ever U.S. public offerings. At a total of $25 billion raised, it's still technically the biggest, in fact, even if that title is doomed by the looming SpaceX IPO.

Like most of the other names on -- and not on -- this list, BABA stock got a pretty good start as a publicly traded equity. However, also like most other well-watched IPOs, this one rolled over about a month after its public offering. A little over a year later, shares were down by more than half of their post-IPO high, falling under their public offering price in the process.

BABA data by YCharts.

The stock's obviously overcome this early setback in the meantime, although it's been a spectacularly wild ride.

The takeaway There are arguably some names missing from this list, like Saudi Aramco, SoftBank, NTT Mobile, and Enel SpA, just to name a few. These tickers are largely excluded because these companies' primary stock listings aren't in the United States, or these names were -- and are -- of little interest to most U.S. investors.

The same underlying patterns that apply to the tickers discussed above apply to them, however, just as they're likely to apply to the upcoming IPO of SpaceX stock. That's a whole lot of bullish interest shortly after the stock starts trading, followed by a prolonged period of weakness rooted in the reality that these stocks' early valuations don't make a whole lot of sense. There was simply too much hype doing too much work early on.

Still, there's no denying that most of these sizable, high-profile public offerings ended up panning out nicely for patient early shareholders.

The wait is over — R2 is here.

IRVINE, Calif.--(BUSINESS WIRE)--American automaker and technology company Rivian (NASDAQ: RIVN) today announced the first public customer deliveries of the all-new R2 mid-size SUV. In preparation of these external deliveries, R2 vehicles have been rolling off the production line at the company's Normal, Illinois manufacturing facility as Rivian employees started taking delivery in April. Also beginning today, Rivian is extending invitations to order for existing R2 reservation holders on a rolling basis.

R2—a mid-size electric SUV that brings Rivian's design, performance and technology to a significantly broader audience—was first unveiled on March 7, 2024, in Laguna Beach, California. Almost two years later and after multiple lifetimes of mileage accumulation, testing and validation across the most demanding climates and terrain in North America, R2 is meeting its first public customers.

Deliveries begin with R2 Performance with Launch Package (starting at $57,9901) with R2 Premium configurations to follow in late 2026 and multiple R2 Standard configurations through 2027.

"I am really proud of the work our team poured into creating R2," said RJ Scaringe, Founder and CEO of Rivian. "This vehicle reflects the passion and excitement of the entire Rivian team who have worked tirelessly to bring it to life. I can't wait for customers to experience this vehicle."

A Journey Years in the Making

Following its unveiling, R2 entered an intensive multi-year development and validation program. Across the program, every R2 in Rivian's development fleet accumulated tens of thousands of miles from coast to coast. Engineering teams validated R2 in temperatures and conditions from scorching deserts to frozen tundras, ranging from -45°F (-43°C) to 122°F (50°C) across extremely challenging terrains.

R2 is built on an all-new mid-size platform engineered for a more accessible price point without compromising on capability. At nearly 2,000 lbs lighter than R1 and sitting on a shorter 115.6-inch wheelbase, R2 is responsive and maneuverable in urban environments while retaining Rivian's off-road DNA, with 9.6 inches of class-leading ground clearance, a 25° approach angle and a 26° departure angle.

Thoughtfully designed, R2 features a spacious interior with 40.9 inches of front headroom, 40.4 inches of rear legroom, and a 40/20/40 folding rear seat for hauling long items like skis or lumber. With 90.1 cubic feet of total storage (with seats folded down) spanning from front trunk to the rear cargo area, passengers can pack up to five large suitcases, three backpacks, a stroller and more.

Orders Start Today

Beginning today, R2 reservation holders will start to receive an invitation to configure and order in rolling batches. Customers will receive their invitation based on a variety of factors, the primary factors being when the reservation was made and their delivery location. Current Rivian owners will receive accelerated delivery timing, balanced alongside deliveries to non-owners to keep the line moving for everyone. Customers with a lease that ends soon can enter expiring lease information in their Rivian account, and that information will be considered where possible.

Once a customer receives an invitation, they will be able to select their trim, color, wheels and interior and confirm their order through their Rivian account. By the end of June, all reservation holders will receive an estimate of when they can expect their order invitation.

The first vehicle available to order is R2 Performance with Launch Package starting at $57,9904. This comes with Autonomy+ included3 featuring Universal Hands-Free assisted driving across 3.5 million miles of roads in the U.S. and Canada. Performance with Launch Package will also offer:

Dual-motor all-wheel drive producing 656 horsepower and 609 lb-ft of torque 0–60 mph in as quick as 3.6 seconds2 An EPA-estimated range of up to 330 miles2 Semi-active suspension (unique to Performance trim) Exclusive option of Launch Green exterior color (paid upgrade) Special Rivian Green anodized key fob Tow Package with an integrated 2-inch hitch receiver and 4,400 pounds of towing capacity R2 Premium trim will arrive in late 2026 starting at $53,9904. R2 Standard trim begins in early 2027 with RWD Long Range starting at $48,4904. An additional R2 Standard version will arrive in Summer 2027 starting at $44,9904. If a customer prefers to wait for a future R2 version, they will be notified as they become available to order. Once an order is confirmed, customers can take delivery within 2–6 weeks.

Designed for the Road Ahead

R2 marks an evolution in software-defined vehicles, built to evolve, pairing an AI-ready architecture with 5G connectivity, the most powerful infotainment compute in a consumer vehicle in North America, and tactile haptic controls. Its multi-modal perception stack with 11 HDR cameras totaling 65MP and a five-radar system sets a new bar for sensory fidelity. This foundation powers an expanding suite of driver assistance and active safety features designed for a drive that feels as advanced as it operates, and a vehicle that gets smarter with every over-the-air update.

Autonomy Platform: Every R2 Performance with Launch Package includes Autonomy+ ($2,500 value). This means R2 with Launch Package will receive future features added to the Autonomy+ platform at no extra cost. For all other trims, Autonomy+ hardware comes standard with an included 60-day trial, after which the service is optional at $49.99/month or a $2,500 one-time fee. This system brings L2+ hands-free assisted driving to 3.5 million miles of roads across the U.S. and Canada via Universal Hands-Free, with a limited rollout of Point-to-Point driving coming to R2 and R1 Gen 2 fleet later this year, followed by widespread rollout in 2027. AI Powerhouse: R2 is outfitted with 200 sparse TOPS of edge AI compute dedicated to the in-cabin experience. This includes enabling the Rivian Assistant (launching on R2 later this summer), Rivian’s in-vehicle voice assistant that understands you, your vehicle and your context—to smoothly run complex tasks locally on the edge, even if the vehicle is offline. Haptic Halo Wheels: At the center of the R2 driving experience is a redesigned steering wheel featuring haptic 'halo' dials. These dynamic and context-aware controls—capable of scrolling, pushing, pulling and tilting—provide distinct physical responses for multiple functions, bridging the gap between digital software and tactile hardware to keep the driver’s focus on the horizon. Both the physical wheels and underlying haptic technology were designed in-house. Dual Digital Displays: R2 offers flexibility and control with two displays—a driver display in front of the steering wheel for more utility on the road, and the center display for a deeper dive into navigation and infotainment. Software Updates: Rivian builds vertically-integrated hardware and software, enabling your vehicle to gain meaningful updates via software right from your driveway. R2 evolves this vertically integrated approach with a new, streamlined electrical architecture that delivers more capability with less complexity, providing ample headroom for the future. Assembled in America

R2 comes to life on an all-new, dedicated line at Rivian's Normal, Illinois manufacturing facility, home to the R1S and R1T. The R2 program supports thousands of jobs in Central Illinois and represents the next chapter of Rivian's growing U.S. manufacturing footprint. Rivian is constructing a second manufacturing facility in Stanton Springs, Georgia, which is expected to begin assembling vehicles in late 2028. In its initial phase, this state-of-the-art facility will provide up to 300,000 units annually in new capacity for R2, the company’s upcoming robotaxi platform, as well as future models and variants.

R2 reservations remain open with a $100 refundable deposit. To learn more and/or to reserve R2, visit https://rivian.com/r2.

1 Prices shown do not include all applicable taxes and fees.

2 Actual vehicle capability will depend on selected options and trim. Torque, horsepower, and acceleration timing estimates vary based on battery, tire, drive modes, vehicle load and weather. Official EPA values are noted. The EPA estimates range through a series of standardized lab tests that mimic real world conditions. Factors including tires, drive modes, HVAC settings and accessories can all have an impact on range. 0-60 acceleration in 3.6 seconds (with 21” wheel), 50-70 mph in as quick as 1.55 seconds and 656 horsepower available with R2 Performance.

3 Autonomy+ features may vary based on vehicle model and hardware. Autonomy+ product features remain available during the lifetime of feature support for the hardware on the vehicle at delivery. Driver assistance features support the driver but do not replace their judgment or the need to remain attentive and in control of the vehicle at all times. Universal Hands-Free will not stop or slow down for traffic lights or stop signs.

4 R2 trims and pricing noted in this press release are for USA-market vehicles. More information on Canadian-spec vehicles, packages and pricing will come closer to market launch in Canada. Prices shown do not include all applicable taxes and fees.

About Rivian

Rivian (NASDAQ: RIVN) is an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and services. Through innovation across its electrical architecture, end-to-end software, autonomous driving platform, artificial intelligence and propulsion, the company creates vehicles that excel at work and play while accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are manufactured in the United States and are sold directly to consumer and commercial customers. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come.

Learn more about the company, products, and careers at www.rivian.com.

American automaker and technology company Rivian (NASDAQ: RIVN) today announced the first public customer deliveries of the all-new R2 mid-size SUV. In preparation of these external deliveries, R2 vehicles have been rolling off the production line at the company's Normal, Illinois manufacturing facility as Rivian employees started taking delivery in April. Also beginning today, Rivian is extending invitations to order for existing R2 reservation holders on a rolling basis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260609965893/en/

Rivian R2 midsize SUV

R2—a mid-size electric SUV that brings Rivian's design, performance and technology to a significantly broader audience—was first unveiled on March 7, 2024, in Laguna Beach, California. Almost two years later and after multiple lifetimes of mileage accumulation, testing and validation across the most demanding climates and terrain in North America, R2 is meeting its first public customers.

Deliveries begin with R2 Performance with Launch Package (starting at $57,9901) with R2 Premium configurations to follow in late 2026 and multiple R2 Standard configurations through 2027.

"I am really proud of the work our team poured into creating R2," said RJ Scaringe, Founder and CEO of Rivian. "This vehicle reflects the passion and excitement of the entire Rivian team who have worked tirelessly to bring it to life. I can't wait for customers to experience this vehicle."

A Journey Years in the Making

Following its unveiling, R2 entered an intensive multi-year development and validation program. Across the program, every R2 in Rivian's development fleet accumulated tens of thousands of miles from coast to coast. Engineering teams validated R2 in temperatures and conditions from scorching deserts to frozen tundras, ranging from -45°F (-43°C) to 122°F (50°C) across extremely challenging terrains.

R2 is built on an all-new mid-size platform engineered for a more accessible price point without compromising on capability. At nearly 2,000 lbs lighter than R1 and sitting on a shorter 115.6-inch wheelbase, R2 is responsive and maneuverable in urban environments while retaining Rivian's off-road DNA, with 9.6 inches of class-leading ground clearance, a 25° approach angle and a 26° departure angle.

Thoughtfully designed, R2 features a spacious interior with 40.9 inches of front headroom, 40.4 inches of rear legroom, and a 40/20/40 folding rear seat for hauling long items like skis or lumber. With 90.1 cubic feet of total storage (with seats folded down) spanning from front trunk to the rear cargo area, passengers can pack up to five large suitcases, three backpacks, a stroller and more.

Orders Start Today

Beginning today, R2 reservation holders will start to receive an invitation to configure and order in rolling batches. Customers will receive their invitation based on a variety of factors, the primary factors being when the reservation was made and their delivery location. Current Rivian owners will receive accelerated delivery timing, balanced alongside deliveries to non-owners to keep the line moving for everyone. Customers with a lease that ends soon can enter expiring lease information in their Rivian account, and that information will be considered where possible.

Once a customer receives an invitation, they will be able to select their trim, color, wheels and interior and confirm their order through their Rivian account. By the end of June, all reservation holders will receive an estimate of when they can expect their order invitation.

The first vehicle available to order is R2 Performance with Launch Package starting at $57,9904. This comes with Autonomy+ included3 featuring Universal Hands-Free assisted driving across 3.5 million miles of roads in the U.S. and Canada. Performance with Launch Package will also offer:

Dual-motor all-wheel drive producing 656 horsepower and 609 lb-ft of torque 0–60 mph in as quick as 3.6 seconds2 An EPA-estimated range of up to 330 miles2 Semi-active suspension (unique to Performance trim) Exclusive option of Launch Green exterior color (paid upgrade) Special Rivian Green anodized key fob Tow Package with an integrated 2-inch hitch receiver and 4,400 pounds of towing capacity R2 Premium trim will arrive in late 2026 starting at $53,9904. R2 Standard trim begins in early 2027 with RWD Long Range starting at $48,4904. An additional R2 Standard version will arrive in Summer 2027 starting at $44,9904. If a customer prefers to wait for a future R2 version, they will be notified as they become available to order. Once an order is confirmed, customers can take delivery within 2–6 weeks.

Designed for the Road Ahead

R2 marks an evolution in software-defined vehicles, built to evolve, pairing an AI-ready architecture with 5G connectivity, the most powerful infotainment compute in a consumer vehicle in North America, and tactile haptic controls. Its multi-modal perception stack with 11 HDR cameras totaling 65MP and a five-radar system sets a new bar for sensory fidelity. This foundation powers an expanding suite of driver assistance and active safety features designed for a drive that feels as advanced as it operates, and a vehicle that gets smarter with every over-the-air update.

Autonomy Platform: Every R2 Performance with Launch Package includes Autonomy ($2,500 value). This means R2 with Launch Package will receive future features added to the Autonomy+ platform at no extra cost. For all other trims, Autonomy+ hardware comes standard with an included 60-day trial, after which the service is optional at $49.99/month or a $2,500 one-time fee. This system brings L2+ hands-free assisted driving to 3.5 million miles of roads across the U.S. and Canada via Universal Hands-Free, with a limited rollout of Point-to-Point driving coming to R2 and R1 Gen 2 fleet later this year, followed by widespread rollout in 2027. AI Powerhouse: R2 is outfitted with 200 sparse TOPS of edge AI compute dedicated to the in-cabin experience. This includes enabling the Rivian Assistant (launching on R2 later this summer), Rivian’s in-vehicle voice assistant that understands you, your vehicle and your context—to smoothly run complex tasks locally on the edge, even if the vehicle is offline. Haptic Halo Wheels: At the center of the R2 driving experience is a redesigned steering wheel featuring haptic 'halo' dials. These dynamic and context-aware controls—capable of scrolling, pushing, pulling and tilting—provide distinct physical responses for multiple functions, bridging the gap between digital software and tactile hardware to keep the driver’s focus on the horizon. Both the physical wheels and underlying haptic technology were designed in-house. Dual Digital Displays: R2 offers flexibility and control with two displays—a driver display in front of the steering wheel for more utility on the road, and the center display for a deeper dive into navigation and infotainment. Software Updates: Rivian builds vertically-integrated hardware and software, enabling your vehicle to gain meaningful updates via software right from your driveway. R2 evolves this vertically integrated approach with a new, streamlined electrical architecture that delivers more capability with less complexity, providing ample headroom for the future. Assembled in America

R2 comes to life on an all-new, dedicated line at Rivian's Normal, Illinois manufacturing facility, home to the R1S and R1T. The R2 program supports thousands of jobs in Central Illinois and represents the next chapter of Rivian's growing U.S. manufacturing footprint. Rivian is constructing a second manufacturing facility in Stanton Springs, Georgia, which is expected to begin assembling vehicles in late 2028. In its initial phase, this state-of-the-art facility will provide up to 300,000 units annually in new capacity for R2, the company’s upcoming robotaxi platform, as well as future models and variants.

R2 reservations remain open with a $100 refundable deposit. To learn more and/or to reserve R2, visit https://rivian.com/r2.

1 Prices shown do not include all applicable taxes and fees.

2 Actual vehicle capability will depend on selected options and trim. Torque, horsepower, and acceleration timing estimates vary based on battery, tire, drive modes, vehicle load and weather. Official EPA values are noted. The EPA estimates range through a series of standardized lab tests that mimic real world conditions. Factors including tires, drive modes, HVAC settings and accessories can all have an impact on range. 0-60 acceleration in 3.6 seconds (with 21” wheel), 50-70 mph in as quick as 1.55 seconds and 656 horsepower available with R2 Performance.

3 Autonomy+ features may vary based on vehicle model and hardware. Autonomy+ product features remain available during the lifetime of feature support for the hardware on the vehicle at delivery. Driver assistance features support the driver but do not replace their judgment or the need to remain attentive and in control of the vehicle at all times. Universal Hands-Free will not stop or slow down for traffic lights or stop signs.

4 R2 trims and pricing noted in this press release are for USA-market vehicles. More information on Canadian-spec vehicles, packages and pricing will come closer to market launch in Canada. Prices shown do not include all applicable taxes and fees.

About Rivian

Rivian (NASDAQ: RIVN) is an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and services. Through innovation across its electrical architecture, end-to-end software, autonomous driving platform, artificial intelligence and propulsion, the company creates vehicles that excel at work and play while accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are manufactured in the United States and are sold directly to consumer and commercial customers. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come.

Learn more about the company, products, and careers at www.rivian.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260609965893/en/

Rivian Automotive RIVN shares fell about 4% on Tuesday after the electric vehicle maker began delivering its new R2 midsize SUV to retail customers.

Rivian said the first customer vehicles are being shipped from its manufacturing facility in Normal, Illinois. The launch follows employee deliveries earlier this year and marks the company's expansion beyond its higher-priced R1 vehicle family.

The initial rollout centers on the R2 Performance model with the Launch Package, priced from $57,990. Rivian plans to introduce Premium versions later in 2026, while lower-priced Standard trims are expected to arrive in 2027.

Rivian said the R2 was developed on a dedicated midsize platform aimed at a broader customer base. The vehicle offers up to 330 miles of estimated driving range and includes the company's Autonomy+ driver-assistance system, which supports hands-free driving on eligible roads in the U.S. and Canada.

Rivian began officially handing over the first R2 SUVs to paying customers on Tuesday, marking the beginning of a new chapter for the buzzy all-electric automaker as it tries to reach mass-market scale.

Rivian founder and CEO RJ Scaringe has said the R2 is “maybe the most important thing we’ve launched to date,” and it’s particularly crucial to the company’s ambitions in the world of autonomous vehicles.

Starting at around $58,000, the R2 takes a lot of what Rivian did with the R1 SUV and shrinks it down into a more approachable and affordable form factor. The company plans to offer a version of the R2 for less than $50,000, beginning in 2027. An even more stripped-down model will be available “around $45,000” later that year — making good on a price point Rivian has teased since it revealed the R2 in 2024.

The company is looking to ramp up both production and deliveries of the R2 through the second half of 2026. And Rivian is planning on the R2 being very successful from the jump: The company has said it will deliver between 20,000 and 25,000 R2 SUVs by the end of the year. If it accomplishes that feat, Rivian’s R2 would be one of the fastest-scaling EV launches in U.S. history.

From there, Rivian wants to build and sell hundreds of thousands of R2 SUVs per year. The company has begun production at its factory in Normal, Illinois, and is building a new factory in Georgia that will come online in late 2028.

The R2 arrives at an inflection point for electric vehicles in America. The Trump administration has weakened environmental regulations that put pressure on the auto industry to move away from gas engines. Congress also did away with a $7,500 federal tax credit that made new electric cars more affordable. Most of the legacy automakers have shelved or canceled plans for EVs in the U.S. Even industry leader Tesla’s sales are declining.

But sales of EVs are on the rise elsewhere around the world, and China is pumping out ultra-cheap sedans and crossovers that have some countries clamoring to bring them ashore. Earlier this year, Canada dramatically reduced its import tax on Chinese-made EVs in an attempt to fight climbing new car prices.

Scaringe has painted this environment as an opportunity for his company. With fewer new EVs on the market in the U.S., the R2 has a chance to become one of the most compelling options available, he’s reasoned in recent interviews.

Rivian is also pinning a lot of promises about autonomy on the R2. In December, the company laid out its vision for increasing the SUV’s autonomous capabilities over the next few years, and Rivian expects the R2 to eventually be able to drive itself. In March, Uber struck a deal with Rivian worth up to $1.25 billion that would allow as many as 40,000 R2 models to be used as robotaxis on the ride-hailing giant’s network.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Sean O’Kane is a reporter who has spent a decade covering the rapidly-evolving business and technology of the transportation industry, including Tesla and the many startups chasing Elon Musk. Most recently, he was a reporter at Bloomberg News where he helped break stories about some of the most notorious EV SPAC flops. He previously worked at The Verge, where he also covered consumer technology, hosted many short- and long-form videos, performed product and editorial photography, and once nearly passed out in a Red Bull Air Race plane.

You can contact or verify outreach from Sean by emailing [email protected] or via encrypted message at okane.01 on Signal.

For several years, Scaringe has argued that the United States needs more electric vehicles priced under the $50,000 sweet spot to better compete with China.

Scaringe was asked about the U.S. falling behind Europe and China for electric vehicle market share at a media event in early June, as reported by InsideEVs.

"There are sort of two sides, the way you can present what's causing this. So on, as you say, is that customers don't want EVs. I view that as a fairly lazy explanation for what's happening," Scaringe said.

Scaringe said that with two electric vehicles making up 50% of the EV market in the U.S., there could be more explanations.

"I think it's much more the fact that there are very few great choices. And I use the descriptor ‘great' importantly there. I think that's not to say there are no EV choices, but to say that they are great, or highly compelling to the extent that you would move out of an ICE vehicle and move out of a hybrid vehicle, there's just a vacuum of choice."

Scaringe highlights the Model 3 and Model Y from Tesla Inc (NASDAQ:TSLA) as the vehicles that are dominating the U.S. market.

"That's not a reflection of a healthy or well-served market. It's a reflection of a wildly underserved market."

The United States had market share of around 8% for electric vehicles in 2025, compared to 19% in Europe and around 33% in China, according to data shared by InsideEVs.

R2 Launch is Rivian's CatalystThe R2 deliveries for the Performance model began this week for a vehicle with a starting price of $57,990. That price is cheaper than the $58,880 starting price for the comparative Model Y version.

Rivian also has the Premium model and standard model coming in late 2026 and 2027 with starting price points of $53,990 and $48,490 respectively.

“With the launch of R2, we are excited to dramatically expand our market opportunity and have more people driving Rivians,” Scaringe previously said.

The CEO noted that the R2 offers "the magic of what is a Rivian at that higher price and puts it into a slightly smaller package." With a lower starting price, Scaringe hopes to increase Rivian's potential customer base "dramatically."

Rivian is guiding for 62,000 to 67,000 vehicle deliveries in 2026.

The company is working to increase its production, with a goal of 300,000 units annually by 2028.

Rivian Stock Price ActionRivian stock is down 1.4% to $15.50 on Wednesday versus a 52-week trading range of $11.57 to $22.69. Rivian stock is down 20.1% year-to-date in 2026.

Photo courtesy: Thrive Studios ID / Shutterstock.com

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Rivian Automotive (RIVN - Free Report) closed at $14.77 in the latest trading session, marking a -6.13% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Elsewhere, the Dow saw a downswing of 1.87%, while the tech-heavy Nasdaq depreciated by 1.98%.

The a manufacturer of motor vehicles and passenger cars's shares have seen an increase of 12.76% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 4.7% and the S&P 500's loss of 0.03%.

The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is predicted to post an EPS of -$0.66, indicating a 17.5% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.44 billion, up 10.34% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.41 per share and revenue of $7.02 billion, which would represent changes of +1.63% and +30.33%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.24% higher. Currently, Rivian Automotive is carrying a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 26% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Rivian started deliveries of its R2 SUV on Tuesday. Jay Janner/The Austin American-Statesman via Getty Images Rivian's CEO said he didn't want his latest R2 to look like the Tesla Model Y — for numerous reasons.

In a "Masters of Scale" interview released on Thursday, CEO RJ Scaringe spoke about Rivian's latest R2 SUV, which is its cheapest electric car yet. Rivian started deliveries of the car on Tuesday.

Scaringe mentioned two main reasons the R2 looks and feels nothing like the other affordable EV option in the US, Tesla's Model Y.

The first was what he called an "extreme lack of choice" for EVs under $50,000 in the US. He said Tesla's Model Y and Model 3 make up the bulk of the EV market in the country, which he said was a "reflection of a market that's wildly underserved."

Scaringe said that while Tesla's models are "great vehicles," customers need choices.

"Not everyone is going to want that exact shape, that exact form factor, that exact look. And so Rivian can do a part in that," he said.

The second reason he brought up was that he wanted R2 to be its own product. He said he's seen other players fail while competing with Tesla, by making "Model Y copies" instead of "having deep conviction around building a product that's linked to your brand."

"And the unfortunate thing about that is, if you want to buy a Tesla Model Y, you don't want XYZ company's version of a Model Y. You'll just get the Model Y," he added.

Scaringe previously told Business Insider that the R2 EV would be Rivian's "inflection point," shaping the brand's future. There are three versions of the car: "Standard," "Premium," and "Performance."

According to the automaker's website, only the "Performance" version, starting at $57,990, is now being delivered. The $44,990 "Standard" version will start delivery in 2027, while the $53,990 "Premium" will arrive later this year.

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