In addition, we have extended a key customization capability across our global business with the debut of our first Ecommerce customization options outside of the U.S. We are well positioned to build upon our leadership position in the soft cooler category as these products are more fully distributed across our channels into next year. Reintjes continued, “In addition to disciplined execution during the third quarter, we also successfully launched our expanded line of Hopper M Series soft coolers back to the market earlier in the fourth quarter. These gains continue to support growth focused investments across our business, while still driving upside to our bottom line.” Gross margin performance remained exceptional and above expectations, led by strong partnerships with our suppliers on product cost and the ongoing optimization of our transportation and logistics expenses. Sales in the quarter were in line with our prior outlook, as a diverse range of new product offerings drove strong consumer demand across our major sales channels. Matt Reintjes, President and Chief Executive Officer, commented, “Our third quarter results demonstrate the continued and consistent execution of the YETI growth playbook, driving strong brand and product interest, while setting up the business for long-term, sustainable growth. Please see “Non-GAAP Financial Measures,” and “Reconciliation of GAAP to Non-GAAP Financial Information” below for additional information and reconciliations of the non-GAAP financial measures to the most comparable GAAP financial measures. YETI’s non-GAAP measures exclude the impact of the voluntary recalls, as well as certain other items. YETI reports its financial performance in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and as adjusted on a non-GAAP basis. The results below should be read in conjunction with the “Product Recall Updates” section of this press release. (“YETI”) (NYSE: YETI) today announced its financial results for the third quarter ended September 30, 2023. Gross Margin Expanded Over 600 Basis Points
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