YETI Reports Fourth Quarter and Fiscal Year 2023 Results

Fourth Quarter 2023 Highlights
*Fourth quarter net sales increased 16%; Adjusted net sales increased 6%
*Fourth quarter net sales were highlighted by a 12% increase in Drinkware net sales and a 44% increase in International net sales; International adjusted net sales increased 39%
*Fourth quarter EPS of $0.90 compared to loss per share of $0.32 in the prior year quarter; Adjusted EPS of $0.90, growth of 15%

Fiscal Year 2023 Highlights
*Full year net sales increased 4%; Adjusted net sales increased 3%
*Full year EPS increased 88% to $1.94; Adjusted EPS decreased 5% to $2.25
*Cash increased 87% to $439 million compared to Fiscal 2022

Matt Reintjes, President and Chief Executive Officer, commented, “In the fourth quarter, we saw strength in a number of key areas of our business. Our Drinkware business grew 12%, pushing the category to over $1 billion in annual sales. Also, our international expansion continued in the fourth quarter, with our business outside the US growing 39%. Despite strong topline performance in these areas, our fourth quarter results were below our guidance, primarily as a result of more cautious and inconsistent spending on high-priced ticket items in our Coolers & Equipment category. Gross margins continued to expand in the fourth quarter, reaching an all-time high of over 60 percent, which supported a return of adjusted operating margin expansion. And we exited the year with our strongest balance sheet to-date, including a record cash position of nearly $440 million.”

Mr. Reintjes continued, “In 2023, we continued to show the strength of our customer base, the success of our product expansion, and the momentum behind our global brand. During the year, we evolved our diverse commercial channels to market through existing and new wholesale partners, continued to make investments in our DTC channels, and further developed our international markets. We delivered a robust lineup of new product innovation while maintaining our focus on durability, performance, and design. Importantly, we broadened and extended the reach of YETI drinkware with new offerings in hydration, coffee, barware and tabletop, which resonated with both new and existing customers. Additionally, we made foundational international investments across brand awareness, logistics, and DTC to support international growth into 2024 and beyond.”
details at: https://investors.yeti.com/news/news-details/2024/YETI-Reports-Fourth-Quarter-and-Fiscal-Year-2023-Results/default.aspx

Related Posts

A Surprisingly Strong Year of Book Sales Continues (publishersweekly.com)

A number of big summer bestsellers, a surge in interest in books on social justice, and ongoing demand by parents for children’s books that both educate and entertain combined to continue to push up unit sales of print books through this year’s third quarter. According to NPD BookScan, print unit sales rose 6.4% for the nine months ended Oct. 3, 2020 over the comparable span in 2019. Unit sales jumped 29.1% in the juvenile nonfiction category, led by huge demand for Big Preschool Workbook, which sold nearly 649,000 print copies in the period, and My First Learn-to-Write Workbook by Crystal Radke, which sold almost 595,000 copies.

REI Co-op enters the running shoe business with the Swiftland MT, its first multi-terrain trail shoe designed using recycled and bio-based materials

Based on years of gear designing, experience, customer feedback, and industry-leading sustainability insights, REI Co-op introduces its first foray into running shoes since the 1970s, with the introduction of the REI Co-op Swiftland Multi-terrain (Swiftland MT). This versatile trail runner maximizes recycled and bio-based materials without compromising technical expectations, while giving runners the freedom to take their adventures over multiple surfaces beyond the pavement. The Swiftland MT is a foundational running shoe that joins a wide variety of running apparel, equipment and gear for REI customers to choose from, and continues the co-op's commitment to broaden its running assortment and more deeply invest in this activity category.

Ulta Beauty Announces Third Quarter 2017 Results

For the Third Quarter: • Net sales increased 18.6% to $1,342.2 million from $1,131.2 million in the third quarter of fiscal 2016. The Company estimates that Hurricanes Harvey and Irma resulted in approximately $14 million in lost sales; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 10.3% compared to an increase of 16.7% in the third quarter of fiscal 2016. The 10.3% comparable sales increase was driven by 6.0% transaction growth and 4.3% growth in average ticket. The Company estimates that Hurricanes Harvey and Irma resulted in approximately 100 basis points of negative impact to comparable stores sales in the third quarter of fiscal 2017; • Retail comparable sales increased 6.6%, including salon comparable sales growth of 3.8%; • Salon sales increased 10.8% to $66.9 million from $60.4 million in the third quarter of fiscal 2016; Click Read More below for additional information.
Back To Top
×Close search
Search