Yeti Holdings ( NYSE: YETI ) fell in early trading on Thursday after the company missed estimates with its Q2 earnings report and lowered guidance.
The outdoor products seller said sales were slightly below expectations due primarily to softer digital traffic and new customer acquisition trends after several years of strong growth.
On the cost side, Yeti ( YETI ) noted that gross margin and operating expenses continue to be impacted by elevated logistics and distribution costs. "Additionally, the marginal channel shift towards wholesale and the product mix towards coolers and equipment in the period was greater than we expected and negatively impacted gross margin," updated Yeti management.
Looking ahead, Yeti Holdings ( YETI ) sees full-year revenue of $1.623B to $1.651B vs. a prior view for $1.411B and the consensus mark of $1.67B. EPS of $2.34 to $2.46 is expected for the full year vs. $2.60 prior view and $2.86 consensus.
Shares of Yeti Holdings ( YETI ) fell 3.33% in premarket trading to $52.55 following the earnings misfire.
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Yeti Holdings falls after earnings miss, guidance slash