RICHARDSON, Texas, Aug. 8, 2007 (PRIME NEWSWIRE) -- Fossil, Inc. (Nasdaq:FOSL) today announced that, following the completion of the voluntary review of the Company's historical equity granting practices, the Company has filed with the Securities and Exchange Commission (the "SEC") its Form 10-K for the fiscal year ended January 6, 2007 and its Forms 10-Q for the quarters ended October 7, 2006 and April 7, 2007. These filings supersede in their entirety the preliminary earnings releases issued on November 14, 2006, February 20, 2007 and May 15, 2007. The Company is now current in its filings and will notify the Nasdaq that it is in compliance with the filing requirements for continued listing on the Nasdaq Global Select Market.

Additionally, the Company announced that in a letter dated July 20, 2007, the SEC staff informed the Company that SEC's inquiry regarding the Company's stock option grants and related accounting has been completed and they do not intend to recommend any enforcement action by the SEC.

The Company will release its financial results for its second quarter ended July 7, 2007, as originally scheduled, prior to the market opening on Tuesday, August 14, 2007.