YETI Q1 2020 Earnings Report
Key Takeaways
YETI's first quarter results showed strong performance through mid-March, with sales up 21% year-over-year. However, the COVID-19 pandemic significantly impacted results, with sales declining 25% in the final two weeks of the quarter. The company is focusing on employee safety, cost management, and maintaining financial strength.
Net sales increased by 12% to $174.4 million compared to the same period last year.
Gross profit increased by 21% to $92.5 million, with gross margin expanding by 370 basis points to 53.0%.
Operating income increased by 84% to $16.2 million, or 9.3% of net sales.
YETI withdrew its full year fiscal 2020 outlook due to the uncertainty of the COVID-19 pandemic.
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YETI Revenue by Segment
Forward Guidance
YETI withdrew its full year fiscal 2020 outlook due to the uncertainty of the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income