YETI Holdings, Inc. - YETI STOCK NEWS

YETI Holdings, Inc. (NYSE: YETI) appoints Beth Axelrod and Rob Katz as independent directors, bringing valuable experience in human resources, leadership development, and brand building to the Board of Directors.

YETI Holdings, Inc. (NYSE: YETI) announced flat sales year-over-year, with gross margin expanding over 600 basis points. The company maintains and narrows its 2023 outlook, focusing on growth and brand interest. Despite flat sales, DTC channel sales increased 14%, while wholesale channel sales decreased 16%. Gross profit increased 13% to $251.3 million, with SG&A expenses increasing 23% to $189.4 million. YETI expects adjusted sales to increase approximately 4% for 2023.

YETI Holdings, Inc. to report Q3 fiscal year 2023 financial results on November 9, 2023

YETI Q2 2023 results: Net sales decreased 4%; Adjusted net sales increased 2%. Gross margin continues to expand. Raises low end of full year 2023 adjusted net sales outlook range. Increases full year 2023 adjusted EPS outlook.

YETI Holdings, Inc. (NYSE: YETI) announced it will report its Q2 fiscal year 2023 financial results on August 10, 2023, followed by a conference call and webcast. Investors and analysts can participate by dialing 833-816-1399 or accessing the webcast on www.investors.yeti.com.

YETI Holdings, Inc. (NYSE: YETI) will announce its first quarter fiscal year 2023 financial results on May 11, 2023, before market open. A conference call is scheduled for 8:00 a.m. ET to discuss these results. Investors can participate by dialing 833-816-1399 (or 412-317-0492 for international callers) approximately 10 minutes before the call. A live webcast will be available on the investor relations section of YETI's website. The call replay will be accessible until May 25, 2023. YETI, based in Austin, Texas, specializes in innovative outdoor products, emphasizing quality and performance, and boasts a loyal customer base of outdoor enthusiasts.

YETI Holdings reported fourth quarter 2022 net sales of $448.0 million, a 1% increase year-over-year, with adjusted sales rising 10% to $486.4 million. For the full year, net sales grew 13% to $1,595.2 million, and adjusted sales increased 16% to $1,633.6 million. The results were affected by $38.4 million in unfavorable impacts from voluntary recalls announced earlier. Direct-to-consumer sales surged 17% to $309.5 million but wholesale sales fell 23%. The company anticipates adjusted sales growth of 3% to 5% for fiscal 2023, largely weighted towards the second half, alongside potential earnings declines in the initial quarters.

YETI Holdings, Inc. has officially appointed Mike McMullen as its Senior Vice President, Chief Financial Officer, and Treasurer, after serving as Interim CFO since October 2022. McMullen, who joined YETI in 2016, played a significant role in the company's successful IPO in 2018.

CEO Matt Reintjes expressed confidence in McMullen’s leadership abilities and his contribution to the company's growth and innovation. YETI is known for its premium outdoor products, including coolers and drinkware, with a commitment to delivering high-quality items to outdoor enthusiasts.