- Outdoor gear company Yeti has done a fantastic job at pushing e-commerce amid the coronavirus.
- In Q2, Yeti's online sales helped maintain 7% y/y revenue growth for the company, despite Wall Street calling for double-digit declines.
- Stronger gross margins driven by the strength in direct-to-consumer sales have also led to profitability expansion.
- Yeti noted that its wholesale channel is starting to see recovery again, with June sales hitting positive comps.
- Shares look decently valued at ~15x FY21 EBITDA, potentially meriting a small position.
For further details see:
Yeti: Strong E-Commerce Execution Merits Buying On The Dip