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Article Date: August 2022
Word Count: 289

Yeti Cuts Guidance as Profits Take Hit


Net income slipped 18% to 46,252,000 in the second quarter from $56,231,000 on net sales of $420,042,000, up 17% from $357,667,000. Demand continued in wholesale and the direct corporate sales segment and owned retail, while direct-to-consumer e-commerce and the Amazon marketplace began to cool as they faced tough comps and the broader online slowdown. Looking at the full year, Yeti now expects sales to be up between 15% and 17%, down from prior guidance of 18% to 20%, and adjusted diluted EPS between $2.34 and $2.46 ($210 mm at the midpoint), ... Log in to view full article.

 


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