YETI Holdings, Inc. Announces Sales Results for the Fourth Quarter and Fiscal Year Ended December 29, 2018; Revises Earnings Guidance for the Fiscal Year Ended December 29, 2018
January 12, 2019 at 02:35 am IST
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YETI Holdings, Inc. announced sales results for the fourth quarter and fiscal year ended December 29, 2018. For the fourth quarter fiscal 2018, net sales increased 19% to $241.2 million. Net sales in the direct-to-consumer (DTC) channel increased 45% to $110.5 million, and net sales for the wholesale channel increased 4% to $130.7 million.
For fiscal 2018, net sales increased 22% to $778.8 million. Net sales in the DTC channel increased 48% to $287.4 million, and net sales for the wholesale channel increased 10% to $491.4 million.
For the year 2018, the company expects net sales to be $778,833,000, operating income to be in between $100,469,000 to $102,027,000, and net income to be in between $55,543,000 to $57,212,000. Net income per diluted share is now expected to be $0.67 to $0.69 versus the previous outlook of $0.60 to $0.64, as compared to $0.19 last year, representing an increase of 253% and 263%, respectively.
YETI Holdings, Inc. is a designer, retailer, and distributor of outdoor products. The Company's product portfolio consists of three categories: Coolers & Equipment; Drinkware, and Other. Its Coolers & Equipment family is comprised of hard coolers, soft coolers, cargo, bags, outdoor living, and associated accessories. Its hard cooler category includes YETI Tundra, YETI Roadie, YETI V Series hard coolers, YETI TANK ice, and YETI Silo 6G water cooler bucket. Its Hopper soft cooler product line includes Hopper M15 Soft Cooler, Hopper M12 Soft Backpack Cooler, Hopper M30 Soft Cooler, Hopper Flip Soft Cooler, and Daytrip Lunch Bag, among others. Its Drinkware product line consists of Rambler Colsters, Rambler Lowball, Rambler Wine Tumblers, Rambler Stackable Pints, Rambler Mugs, Rambler Tumblers, Rambler Straw Mugs and Cups, Rambler Bottles, Rambler Jugs and Yonder Water Bottles. Its Other category offers an array of apparel and gear, such as hats, shirts, bottle openers and ice substitutes.
YETI Holdings, Inc. Announces Sales Results for the Fourth Quarter and Fiscal Year Ended December 29, 2018; Revises Earnings Guidance for the Fiscal Year Ended December 29, 2018