Yeti Posts Fourth-Quarter Loss On Massive Recall Charges

February 23, 2023

Yeti reported a loss in the fourth quarter as it absorbed $128.9 million in write-offs related to the recall of several magnet-lined products. Sales were up 1 percent in the fourth quarter but would have risen 10 percent, excluding the recalled products. Yeti also warned that 2023 profitability and sales would be impacted by the recall, with growth planned at 3-to-5 percent. SGB Media