YETI’s Net Sales Jump 26 Pct Amid Robust Demand

Austin, Texas-based YETI Holdings, Inc. reported as part of its Q4 and fiscal year 2020 financial results that net sales surged by 26 percent in Q4, according to an announcement.

The outdoor products company reported that direct-to-consumer (D2C) channel net sales jumped by 46 percent to $217.8 million in contrast to $149 million in the prior year quarter, fueled by formidable performance in coolers and equipment, in addition to drinkware. That channel expanded to 58 percent of net sales in contrast to 50 percent in the prior year period.

In addition, the company reported that wholesale channel net sales climbed 6 percent to $158 million in contrast to $148.7 million in the same period the prior year, also driven by strong sales in coolers and equipment and drinkware. It also reported that selling, general and administrative (SG&A) expenses fell 5 percent to $143.4 million in contrast to $150.4 million in Q4 fiscal 2019.

“This strong quarter culminated a year that saw YETI cross the $1 billion in net sales milestone driven by 19 percent topline growth,” Yeti President and Chief Executive Officer Matt Reintjes said in the announcement.

As for its overall results for Q4, YETI Holdings, Inc. reported adjusted earnings per share of 74 cents on net sales of $375.8 million. The results exceeded analyst estimates of 63 cents earnings per share on revenues of $352.53 million.

YETI anticipates net sales to rise in the range of 15 percent and 17 percent for fiscal 2021 in contrast to a 53-week timeframe in fiscal 2020. It also foresees adjusted net income per diluted share from $2.11 to $2.14.

“Demand for YETI was strong before the onset of the pandemic and remained robust as global consumers adjusted to new work and life habits highlighted by interest in outdoor pursuits, behaviors that we expect will continue this year,” Reintjes said in the announcement. “Looking forward, we believe YETI is uniquely positioned to capitalize as consumers begin to re-engage in pre-pandemic activities such as commuting, social gatherings, and sports activities at all levels.”