Net income increased 18% to $22,223,000 in Q2 from $18,825,000 last year, as revenue rose 12% to $231,654,000, up from $206,288,000 led by a 43% DTC sales gain 43% to $82.5 million. Sales mix for DTC reached 36% percent for quarter, up from 28% in Q2 2018, while also serving as a key margin driver for the overall business. Management updated its full year guidance, with revenue now expected to grow between 13.5% and 14%, updated from between 11.5% and 13% compared to FY18. Growth is expected across both channels, led by DTC.

By product category, drinkware net sales increased 16% ... Log in to view full article.