expansion, delivered fourth everyone. solid our would on YETI in start it quarters. year Thanks, perspective Tom, and of good morning, with with a margin call our how gross XXXX. I even of informs some like more to YETI's and growth one XXXX challenging
continue momentum brand in and see our in business. strength our We Drinkware to real
coolers the in product. we our the on same time, fourth spending at consumer While inconsistent quarter saw
our to audiences. and and potential Overall, we remain our about confident as products we continue brand expand YETI's
for at saw that use interest Drinkware multiple our sustainable provide cases hydration, address continued look products market but various in we also we occasions. As not only in business,
versatility and well Our designed address market are long-term needs. is positioned diverse we believe is to durability portfolio and for what
of exciting, customer Even not growth portfolio reach gains the and and strongest we acquisition, milestone of XXXX. saw balanced this only and year, but achieved delivered sales this, also with quarter demographics. more male YETI Drinkware we our customer retention consumers. both our we in consumer in female value This included annual into leaning across through By billion $X
We will success expansion a for our foundation expect these in and dynamics category. create continued the
spend. As our previous out into we the continue mentioned as in this consumers quarter be We play with discerning to more fourth saw caution quarters, this in extended coolers.
maintained While consumer we we fell of year, the goods, expectations, performance the we from share will a headwinds in anticipate to our the Even market. demand, of drive higher-priced products. new believe place quarter our short we for number of this coolers actions including of in shifted persist premium away range as demand a these some have though
fourth look our the margin a a at gross Now and the taking emphasizing In of financial growth, record of some strength, hitting XXXX, highlights. to quarter delivered we continue operating of revenue. margin our adjusted our quality XX% showcase
an sheet our standard all-time of excellent high a source with a has As management, the of become strength million. story, inventory balance of $XXX cash nearly YETI remains
channels. paced in our below this by our double-digit saw previously our of wholesale growth landing We continued growth was of mentioned the in cooler Sales' against X% dynamic challenges quarter Drinkware and DTC both target. the expansion coolers
our the about shift brand. remain business As drive global to we opportunity I growing and to XXXX, our incredibly enthusiastic
how sheet put start we plan work. our with Let me balance to to
to beginning of YETI and the Bozeman we the MYSTERY new gear acquisition new are Also, launch that summer, cookware acquired allowing $XX The of the cookware the bags. of priority this market. durable developing a to line of business, pleased designs with in completed shares cast access the In manufacturer Montana-based in team announce will February, us portfolios and billion-plus our later our and supporting were communities innovation addition a commitment and bags. to leveraging product can and highly best X cookware, investments iron In acquisition you accessories we RANCH, by the YETI backpacks make. designer of we superior driving at design, and in Bozeman premium cookware to processes,
and This we range and our I seasons packs premium and perfectly opportunity audiences, introduce further opening global everyday of complement bags of our outdoor this coming in of forward the YETI's mission-based incredible waterproof the category. billion-plus as line look bags. will to range designs everyday bags $X premium to
over run past of Softgoods, was CEO these Osprey to significant joined to prior the our including Layne President made and additions in the We support MYSTERY Rigney few most recently CamelBak. moves. of Packs months talent that, RANCH Layne business to also up acquisition.
complement and we team on to M&A these have opportunities the addition, added potential resources to us leader and a execute for inorganic In including our product support in-house development incredible build moves identify the additional support help future. development our product All corporate inorganic upon expansion. to
in primary today, deployment to only shareholders. the of expansionary be Additionally, work YETI's within growth repurchases with the long-term repurchase. to strategy announced ability $XXX remains repurchase coupled capital Board levers dilution, put The as offset opportunistic sustainable to that supportive multiple of authorization, to support common but opportunistic also repurchase of power capital generation, up the of the value allocation see cash business, authorized share with deliver has our M&A, shows in M&A capital and product it for to share our of and finally, not We buybacks of Directors on stock. we the our that priority. we focus fit million investment allocation of plan our The to
to updates, remain right our making we laser-focused on the conjunction In drive capital strategic these priorities. decisions long-standing growth with allocation
reach, made globalization, updates in provide overarching we build product areas, where I As brand focus strides diversification, across our channel the and themes areas incredible are XXXX. X
with customer our global Starting brand expanding and base.
global active while consumers. remaining connected both deeply communities of connecting relevant enthusiasts, and broadening and to payoff We a by ambassadors, partners of storytelling the product our to localized we're reach seeing targeted continue leverage our scale. breadth a strategy consumers and brand XX and to and depth on Across
With the priority to be assortment our ongoing year highlighting audiences. opportunity our and on the new will this product larger range innovation, of push
We our broad-based well purchase product lines efforts consideration on efforts. will focus driving top-of-funnel of as awareness, and brand as marketing
When to we look at and XXXX beyond, and see build collaborations. brand existing and incredible upon we partnerships opportunity new
quarter, Some of our Tennessee season. Tour Surf our Natural first are global partners the XXXX to their getting and off World XXXX at and activities Austin the reach kick Selection ready partners already started their have during League including and
our the international are reach. partners, many domestic and these other build With and of we out continuing to diversity
and us continue to work our products, leverage marketing insights segment our cases. to efforts, diversified brand will allow data to addition our plan we which use to of In amplify assortment to analytics and
wrapped a awareness, These or wellness conversion coffee, consideration health and and build efforts of cocktails, a brand travel, product addressable we product programming. With deliver YI. story drive audiences brand and and and in dedicated
As we connect product, category the in through real expansion. innovation also for and consumers product ways future and brand we brand with open
in the retention the Turning half innovation. cases, of of increasing second options incredibly color expansion This portfolio was the apparent our to with year. driving acquisition during were most delivering scale. We and extended proud a the diversification of year, global Drinkware on and the new use new of products
support offerings, In beverage and to consumer mug other to ounce a straw-lid XX X strong uses, success straw sit these a introductions ice and our of help for demand added channels. our handled Overall, larger YETI beverage volume wine scoop. complement insulated sell-through Drinkware, and we across other cocktail smaller alongside chiller our an and designed and coffee ramblers the shaker bucket
line cargo on delivering Equipment On above the of our and our the space. Coolers we storage & maintain expectations the as is side, cargo potential bullishness
QX us bags, momentum expansion. and to high in Within hard continue soft coolers, coupled the holiday backpacks, sell-through coolers. consumer of with season return trends we expectations In given gives for good addition, strong of we which saw coolers, strong the growth the key the had duffles tote bags year-to-date
hard While in expectations. overall we for fell of coolers, soft short growth coolers to and returned demand soft
softness data little promotional and and strength this higher overall those the baskets, analytics, activity remained We across driven promotionally Even in at gross as a the market of against having points track price our interest supporting in our above our more margin consumer of larger part that brand we position backdrop YETI and period. believe direct saw reflects high $XXX. particularly
strength We we as and dynamics new near-term also seasonal a limited by underappreciated ago to color promotion the look category confident we leadership innovation. and these end-of-life releasing the QX, awareness innovation, categories fourth in in the year combined coolers extend impacts XXXX's of in remain very Despite driving new period. that our quarter impacted
consider what approach be will several this XXXX, we we themes learned evident product our in in key year. As
price and and our points. to focus continue category First, driving we on Cooler assortment and Equipment the will
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our At next Cooler, round size this price which the in the up family. new and same portfolio with Wheeled point introduce a time, we will will
our been in practice, new Tundra changes create XXXX moves and for announce some create the tiers stack in will pricing pricing near-term that To product launches. Roadie we for QX, end, in plan innovation. new has to windows products targeted As we existing to
a straw to the our expansion refreshing are lid for straw additional including some and with continue of of the beverage near time Next, upcoming In broadly awareness we and food we assortment XXXX term, bottle water develop cups, XXXX our distributing broader Drinkware, innovation. within bottles. drive will our the and first repositioning and Yonder stackable
tabletop we expect to to in Drinkware, continue and XXXX expand In addition, barware.
storytelling to inspired of incorporating continue deployment Finally, throughout the by our color colors portfolio to through a strategic into we integrated addition strategy year. across in lean range seasonal color will limited and our
our debut highly [indiscernible]. off of Orange a The next King kicks and first colors anticipated in already leaked return Crab the of with week of wave
Importantly, true focus to we sustainable and our are long-term stay who product will growth. on strategy
of a commercialization uncompromising design. performance of developed tenets our have and remain but our core focus We nimble in durability, engine
DTC is somewhat enduring meeting we building channel of capabilities, tight by wholesale our the our a this believe balance This management a digital throughout and is brand our the technology, Within U.S. investments analytics result XXXX. true continued year. to to needs. strategy, impacted business and marketing, inventory right efforts an destocking shift and customer in approach in the efforts We saw
trends of DTC diverse dynamics and encouraging number substantial we including These a and new having in with to frequency. wholesale and a highlighted yeti.com, we have both positive growth both across returning drove each saw customer been in while are XXXX. purchase DXC powerful, trend acquisition quarter our new in by market, customer both males channels and a priority. Within females channels, interim Within
more impressive, delivering was across Returning and strong metrics growth customer age. even gender
insights. even analytics overall Prime a provides strong as strong we in And it Day, participate did remained continues strength. order foundation in not to customer amplify the average Moreover, drive to and holiday see we action measures period. we were continued our channel effective customers the in a believe and these the mix, due part fourth to While reaching in Amazon quarter. during October XXXX we though in prove pressured both existing The product new to demonstrate engagement gifting engagement did on platform. good values
of and both capabilities, the markets. domestic our and outbound in The blockbuster strategic XXXX We inconsistent performance efforts. we and channel expanding full was end, untapped quarter growth. both and the years global of on customization that corporate in see year significant focused To inbound sales our are sales following partnerships more potential
the XX stores during stores holiday overall Our the to We increased during and in particular, from with were our year. period. XX execution pleased growth locations the YETI
as stores awareness, We purchase customer tools broader continue and YETI see to to powerful acquisition. consideration, drive
Beyond would indicate of new data a value broader as sales creation, rest come stores across impact our channels the online. X-wall the our
million a first to in store in over X X York have Calgary the expecting for to last incredible international XX-day an for in currently period, including event City planned X first in add store our over Stampede, drew locations be year X.X in just are Calgary, which and We years. New to participated our we time XXXX, actively visitors
little cautious good Shifting where XXXX, inventory ordering overall the channel. running in seen change in we the to in in the below wholesale. YETI returned shape growth fourth entered to channel while and is we quarter, to trends have
into to our across We of lean areas products. will and continue partners leverage strength new
previously In new communicated we partners, thoughtfully product assortment. with wholesale our expansion reach, and will expand including our Tractor Supply diversified with addition, growth that potential leverage opportunities our leading
with a great XX% growing our its Moreover, for just growth to year in and brand XX%. increasing our finished rate almost supporting year, mix the the successful growing of marking growth the business. quarter, focused and international momentum business awareness; we of international year business had this initiatives business in our business. highest under the year total on the the XX% and X the Our XXXX, of our underscoring significant building omnichannel; customization is Thematically, opportunity the
as develop on the to new continue existing we markets work we ones. cultivating addition, In further
more expect specifically each nowhere than and accelerating XXXX. development we in As evident outsized marketing our activation Europe, at We're look of year, to our this growth momentum activities in region, is continue including and we ambassador roster. event
continue wholesale nearly in invest brand in covers base, support team activities, range growing including We to will of doors to our our X,XXX marketing the and now a region. which our
opportunity us. Australia consumer Momentum throughout has amplified own the through had to firsthand for work adopted Australia local dealers sustained conviction partners this it my as accomplished Australian in and January. our The our way Seeing the with about global experience was XXXX, their past and I opportunity YETI incredible. team the has the has
wholesale Australia for more is Our focus and even corporate robust both an e-commerce sales in network opportunities. customization on now plus building
this largest and focus, international room Similar our our fully customization extensive corporate have a more remains to We to Canada expect to regions, develop sales and are we business. these market. capabilities. other scale
We also are we looking wholesale to new thoughtfully will add at actively doors as several accounts. our
Mike, for their and over our dedication our to focus, outstanding would execution like thank all team and I the first I YETI. turn Before partners to call to
agenda. expansion With is effort creation the importantly, to work we the flow, clean we our put growth sheet collective a position gross great to confident we and drive the to our value brand This capital-light and a cash of brand. deliver essential have sustainable to margin balance success to profitability. grow, support increased continuing and while invest for puts strong Most model, YETI in potential and ample remain long-term believe opportunities capital growth in in
call the to turn now over I'll that, Mike. With
