Fossil, a mall favorite, is closing 15 stores in 2026. The company’s CEO, Franco Fogliato, announced the closures during an earnings call in May. Fossil operates roughly 200 stores across the United States and has already closed seven stores in the first three months of 2026.
Shift to E-commerce
The move follows a trend of closures for the company, with Fossil shuttering over 100 stores since 2024. The company is shifting its focus towards e-commerce, with plans to invest in its online platforms. Fossil’s first-quarter adjusted operating income was $10 million, up from $9 million in the same period last year.
Malls are experiencing a decline in popularity as e-commerce becomes the preferred way to shop. According to the University of Michigan’s Journal of Economics, malls have seen a decline in retail sales due to economic and technological challenges over the past few decades.
However, there is hope for malls, as younger generations appear to be buying their clothes in stores. Shoppers aged 18 to 24 bought 62% of their total general merchandise purchases in stores last year, according to the university.
Original reporting: Las Cruces Sun News (HLL/CB) — read the source article.
