Yeti CEO says ‘expectations for the second half of the year have not changed’

CEO Matt Reintjes said, "We are maintaining and narrowing our Fiscal 2022 outlook, with all components remaining within our previous outlook. We expect full year 2022 sales growth of 16%, as our expectations for the second half of the year have not changed. This growth incorporates the strength of our third quarter performance, which did see an increase in wholesale orders that were backed by continued strong sell-through and the channel’s effort to reach more optimal inventory levels earlier than we would normally see ahead of the holiday season. Our sales growth outlook for the year takes this into consideration, as well as a prudently cautious position for the fourth quarter. We also expect our adjusted operating margin to come in at approximately 17%, which is reflective of the supply chain cost challenges and our continued focus on balancing growth across our channels and categories. We remain confident in our ability to drive brand and product momentum, build out a great team, and strengthen an already sound balance sheet, as we look forward into the fourth quarter of 2022, Fiscal 2023, and beyond."