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YETI Holdings, Inc., headquartered in Austin, Texas, is a global designer, retailer, and distributor of premium outdoor products. Founded in 2006, the company focuses on creating durable, high-performing equipment for outdoor enthusiasts, catering to activities such as hunting, fishing, and recreational outings. YETI's product portfolio includes coolers, drinkware, bags, and other outdoor gear, emphasizing innovative design and exceptional quality.
- Drinkware - Offers a wide range of tumblers, bottles, mugs, and other drinkware products designed to keep beverages at the desired temperature for extended periods.
- Coolers & Equipment - Includes hard coolers, soft coolers, and other outdoor gear built for durability and performance in rugged environments.
- Other - Features bags, apparel, and accessories, including recently added cast iron cookware and durable backpacks through acquisitions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bryan C. Barksdale Executive | Senior Vice President, Chief Legal Officer, and Secretary | None | Joined YETI in 2015 as General Counsel, promoted to SVP in 2018. Previously worked at iFLY Holdings, Bazaarvoice, and Wilson Sonsini Goodrich & Rosati. | |
Martin H. Duff Executive | Senior Vice President, Supply Chain & Operations | None | Joined YETI in 2022. Previously held leadership roles at VF Corporation and Johnson & Johnson. Holds a BS and MS from Penn State University. | |
Matthew J. Reintjes Executive | President and Chief Executive Officer | None | CEO since 2015, previously held leadership roles at Vista Outdoor, Alliant Techsystems, and Danaher Corporation. Holds an MBA from UVA and a BA in Economics from Notre Dame. | |
Michael J. McMullen Executive | Senior Vice President, Chief Financial Officer, and Treasurer | None | CFO since February 2023, joined YETI in 2016. Previously worked at Dell and PwC. Holds a BBA from Texas A&M and an MBA from Northwestern. | |
Alison Dean Board | Director | Everbridge, Inc. (Audit Committee Chair); SmartRent, Inc. (Audit Committee Member) | Joined YETI's Board in October 2020. Former CFO of iRobot Corporation. Holds an MBA from Boston University and a BA from Brown University. | |
Dustan E. McCoy Board | Director | Freeport-McMoRan Inc. (Lead Independent Director); Louisiana-Pacific Corporation (Lead Independent Director) | Joined YETI's Board in October 2018. Former CEO of Brunswick Corporation. Extensive expertise in corporate governance and compensation matters. | |
Elizabeth L. Axelrod Board | Director | Heidrick & Struggles (Chair, HR & Compensation Committee); None | Joined YETI's Board in December 2023. Former Global Head of Employee Experience at Airbnb and SVP of HR at eBay. Holds an MPPM from Yale and a BS in Economics from Wharton. | |
Frank D. Gibeau Board | Director | Take-Two Interactive (President, Zynga Label) | Joined YETI's Board in February 2020. Former CEO of Zynga and held leadership roles at Electronic Arts. Holds an MBA from Santa Clara University and a BS from USC. | |
Mary Lou Kelley Board | Director | Vera Bradley, Inc. (Board Member); Finning International, Inc. (Board Member) | Joined YETI's Board in February 2019. Extensive experience in e-commerce and omni-channel marketing. Former executive at Best Buy and L.L.Bean. | |
Robert K. Shearer Board | Chair of the Board of Directors | Church & Dwight Co., Inc. (Audit Committee Member); Kontoor Brands, Inc. (Lead Director, Audit Committee Chair) | Chair of YETI's Board since 2018. Former CFO of VF Corporation. Extensive experience in public accounting and corporate governance. | |
Robert Katz Board | Director | Vail Resorts, Inc. (Executive Chairperson); Wharton Leadership Advisory Board | Joined YETI's Board in December 2023. Former CEO of Vail Resorts. Extensive experience in corporate strategy and global branding. Holds a BS in Economics from Wharton. |
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Given the increased promotional activity and heightened competition in the U.S. Drinkware market leading to a slight decline in U.S. Drinkware sales in Q4 2024, how do you plan to regain growth in this segment, and what specific strategies are you implementing to mitigate competitive pressures in 2025?
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With your guidance indicating mid-single-digit growth for Drinkware in 2025, and the innovation pipeline weighted towards the second half, how confident are you in achieving your overall sales targets if first-half performance is approximately flat, and what contingencies are in place if new product launches do not resonate as expected?
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As you accelerate the diversification of your supply chain to have 80% of U.S. Drinkware capacity outside of China by the end of 2025, what risks do you foresee in this rapid transition, and how might this impact your gross margins and ability to meet demand during the transition period?
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Considering the acquisitions of MYSTERY RANCH and the powered cooler technology, how do these new product categories align with your core competencies, and what are your expectations for their contribution to revenue growth and profitability in the short to medium term?
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In light of the $9.9 million unfavorable recall reserve adjustment related to a product recall from early fiscal 2023, what measures are you taking to enhance quality control and prevent similar issues in the future, and how might this affect your product development and rollout timelines?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Igloo | In the Coolers & Equipment category, we compete against established, well-known, and legacy cooler brands, such as this competitor, as well as numerous other brands and retailers that offer competing products. |
Coleman | In the Coolers & Equipment category, we compete against established, well-known, and legacy cooler brands, such as this competitor, as well as numerous other brands and retailers that offer competing products. |
Pelican | The popularity of YETI products and the YETI brand has attracted numerous new competitors including this competitor, OtterBox, and others, as well as private label brands. |
OtterBox | The popularity of YETI products and the YETI brand has attracted numerous new competitors including Pelican, this competitor, and others, as well as private label brands. |
HydroFlask | In the Drinkware category, we compete against well-known brands such as this competitor, Stanley, and Owala, as well as numerous other brands and retailers that offer competing products. |
Stanley | In the Drinkware category, we compete against well-known brands such as HydroFlask, this competitor, and Owala, as well as numerous other brands and retailers that offer competing products. |
Owala | In the Drinkware category, we compete against well-known brands such as HydroFlask, Stanley, and this competitor, as well as numerous other brands and retailers that offer competing products. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Mystery Ranch, LLC | 2024 | The acquisition was executed as a business combination with a $36.2 million purchase price funded with cash on hand, aimed at expanding YETI’s capabilities in the bags category through integration of key assets including inventory (with a fair value step-up) and $18.6 million in goodwill to capture expected synergies. |
Butter Pat Industries, LLC | 2024 | Completed as an asset acquisition in Q1 2024, this deal targeted YETI’s expansion into the cast iron cookware market, with the transaction being part of a combined purchase consideration of approximately $48.5 million in cash, integrating Butter Pat’s design and manufacturing expertise into YETI’s product portfolio. |
Recent press releases and 8-K filings for YETI.
- Net sales increased 3% in Q1 2025, reaching $351.1 million driven by growth in direct-to-consumer and coolers channels .
- Reported earnings showed GAAP EPS rose 11% to $0.20 per diluted share while adjusted EPS reached $0.31 with a $35M operating income (10.0% margin) .
- Strong performance in Coolers & Equipment and international markets—with 22% international sales growth (23% of Q1 sales) despite a 4% decline in Drinkware sales—underscored channel dynamics .
- A major supply chain transformation is underway, shifting Drinkware production out of China to cut reliance to less than 5% of total COGS and diversify amid tariff challenges .
- Strategic growth includes over 30 new product introductions planned for 2025, featuring launches like the Ranchero backpack and new store openings for accelerated direct-to-consumer growth .
- Disciplined cost management with targeted SG&A control and tariff impact mitigation helped maintain a strong balance sheet and net cash position .
- Innovation Pipeline & Product Expansion: Yeti outlined its robust innovation strategy for 2025, emphasizing an expanded portfolio in coolers and drinkware that builds on its legacy products while introducing new premium extensions.
- Technology Acquisitions: The company recently acquired powered cooler technology in late 2024, a strategic investment aimed at long-term growth despite not impacting the 2025 product cycle immediately.
- Channel Strategy & International Growth: Yeti discussed its balanced approach between direct-to-consumer and wholesale channels, with a particular focus on expanding in key international markets like the UK, Germany, and Japan.
- Capital Allocation Priorities: The firm detailed its capital allocation approach, which includes operational investments, M&A activity (approximately $75 million in recent acquisitions), and a significant share buyback program (around $200 million).