Summary
- YETI has a strong brand and a track record of innovation, but I believe it is going to face challenges in wholesale restocking, competitive forces, and a possible slowdown in the hard coolers category after several years of healthy sell-through.
- 4Q22 results showed slower-than-expected wholesale sales, with higher-than-expected direct-to-consumer and international growth.
- A voluntary recall of certain products resulted in a $129 million charge and will slow revenue growth and earnings in 2023.
For further details see:
YETI Holdings: Margin Recovery To Be Delayed