Yeti Holdings Inc (NYSE:YETI) recently published its latest quarterly and full year report and the data indicates solid brand vitality, as well as dedication to serving its customers across the globe.
The company’s net sales amounted to $375.8 million in 4Q2020, representing a 26% jump from the revenue that the company reported in the corresponding quarter in 2019. Direct-to-consumer (“DTC”) channel accounted for most of the revenue during the quarterly period at $217.8 million which was 46% higher than the $149.0 million DTC channel sales in 2019.
The Wholesale channel segment $158.0 million in 4Q2020 which was up 6% compared to the $148.7 million reported in 4Q2019. The company’s Full year net sales in 2020 amounted to $1.09 billion which was higher than $913.7 million net sales figure in 2019. Yeti CEO Matt Reintjes noted that the company’s strong quarterly and full year results reflects the company’s strong brand position and market execution.
The company’s performance was so strong that its net sales surpassed the $1 billion sales milestone. The CEO is convinced that the strong performance in the past year provides a strong performance outlook in 2021 especially as normalcy returns.
Yeti’s 2021 outlook
Teti expects a better performance in 2021 compared to 2020. The company forecasts net revenue growth between 15% and 17% for the year 18.5% growth in operating income as part of net sales. The earnings forecast is $1.95 and $1.98 percent per share. The higher net sales and earnings expectations are on account of the better overall outlook in 2021 compared to the previous year.
More control over the COVID19 pandemic through vaccine rollout should encourage better market performance as people embrace the outdoors and camping activities. More outdoor activity alone could significantly boost the purchase of cooler boxes. Yeti plans to spend roughly $55 million to $60 million in product innovation, technology and product launches. These investments will also be accretive to its performance in the future.