YETI Holdings slides after forecasting 2024 profit below estimates

YETI Holdings

15/02/2024 11:49

** Shares of retailer YETI Holdings  YETI.N  fall 8.8% to
$43.97 premarket
    ** Co forecasts annual adj. profit between $2.45 and $2.50,
below analysts' average estimate of $2.68 - LSEG data
    ** YETI reports Q4 adj. profit of 90 cents/shr vs analysts'
average estimate of 96 cents/shr
    ** Co says adjusted sales in its coolers and equipment
segment fell 4% to $162.2 mln, due to a decline in hard coolers,
which were impacted by more cautious and inconsistent spending
for higher-priced ticket items
    ** YETI's quarterly revenue of $519.8 mln misses analysts'
average expectation of $536 mln 
    ** Up to last close, stock up 11.7% in last 12 months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))