YETI Holdings, Inc. reported a 4% decrease in net sales and adjusted sales for the second quarter ended June 28, 2025, reaching $445.9 million. U.S. sales declined 5% to $367.8 million, while international sales saw a modest 2% increase to $78.1 million, driven by growth in Europe and the Japan launch.
Despite the sales decline, adjusted gross margin saw a slight increase of 10 basis points to 57.8%, attributed to lower product costs and selective price increases, partially offset by higher tariff costs. Adjusted operating income decreased 9% to $73.2 million, and adjusted net income per diluted share fell 6% to $0.66.
YETI updated its full-year 2025 outlook, modestly lowering top-line expectations due to a prolonged recovery in U.S. drinkware, but raising its EPS outlook. This revision is primarily due to tariff reductions on China-sourced products, partially offset by increased tariffs from other regions.
In terms of capital allocation, YETI repurchased approximately 745,000 shares for $23.0 million in Q2 2025 and anticipates completing $200 million in share repurchases during 2025. The company also acquired assets related to a shaker bottle for $38 million in cash in August 2025, continuing its investment in product innovation.
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