YETI Holdings, Inc.
For the period ended Sep 27, 2025. Filed Nov 6, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 27, 2025 · Filed Nov 6, 2025
YETI$44.97-4.2%Stored close · as of Nov 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-28; filed 2025-08-07.
0001670592-25-000039
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2025-09-27; filed 2025-11-06.
0001670592-25-000048
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 9 previous paragraphs and 9 current paragraphs.
5 unchanged; 3 reworded; 1 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
During 2025, the United States implemented incremental tariffs on imports from many countries. Most of our products are produced in countries that are subject to these tariffs. As a result, the cost to import our products into the U.S. has increased. These increased costs have had a material negative impact on our gross margins and results of operations in 2025. If current tariff levels persist or worsen, we expect that tariffs will continue to have a negative impact on our gross margins and results of operations.
Removed paragraphs (1)
Previous report
During 2025, the United States implemented and then subsequently modified tariffs, and may continue modifying tariffs, trade restrictions, and trade agreements between the United States and other countries. Tariffs raise the cost to import our products. As such, we expect tariffs to have a negative impact on our gross margins and results of operations for 2025. However, the ultimate degree of such negative impact is uncertain as it depends on the level of tariffs in effect on each particular country, as well as the quantity and timing of our purchases from each affected country. For example, if tariffs on imports from China return to April 2025 levels, we would expect a further material negative impact on our gross margins and results of operations in 2025 due to the fact that a large percentage of our Drinkware manufacturing capacity will not be outside of China until the end of 2025.
Reworded paragraphs (3)
Previous wording
If we do not meet demand due to constrained inventory, we could damage our relationships with our wholesale partners and customers and delay or lose sales opportunities, which could unfavorably impact our future sales and materially negatively impact our results of operations. In addition, a change in available exemptions, an increase in tariffs in other countries, or retaliatory actions from other countries, could further constrain our supply chain and further raise the cost of our products.
Current wording
We have been, and will continue, pursuing strategic options to mitigate the impact of tariffs. For example, in response to the elevated tariffs on imports from China announced earlier this year, we have continued our efforts to accelerate the diversification of our Drinkware manufacturing to additional countries beyond China. We continue to expect a large percentage of our Drinkware manufacturing capacity to be outside of China by the end of 2025. These accelerated diversification efforts have caused short-term supply chain disruptions, which have impacted our ability to source certain products. As a result, we have experienced inventory constraints that have adversely impacted sales in 2025, and we expect such impact to continue in the fourth quarter of 2025. If we do not meet demand due to constrained inventory, we could damage our relationships with our wholesale partners and customers and delay or lose sales opportunities, which could unfavorably impact our future sales and materially negatively impact our results of operations. In addition, a change in available exemptions, an increase in tariffs in other countries, or retaliatory actions from other countries, could further constrain our supply chain and further raise the cost of our products.
Previous wording
We are taking or evaluating measures to alleviate the impact of tariffs, but there can be no assurance that such measures will mitigate the potential negative impact of current or potential tariffs on our business or results of operations. Importantly, we have continued our efforts to accelerate the diversification of our Drinkware manufacturing to additional countries beyond China. We continue to expect a large majority of such manufacturing capacity to be outside of China by the end of 2025. The other strategic options to further mitigate tariff impacts that we are taking or evaluating include managing operating expenses, working capital and cash; negotiating with suppliers; evaluating pricing strategies; leveraging tariff exemptions where possible; and pursuing other supply chain optimization activities. During 2025, we continue to diversify our supply chain out of China. The disruption caused by this transition is impacting our ability to source certain products. As a result, we continue to expect that inventory constraints will adversely impact sales in 2025.
Current wording
In addition to diversifying Drinkware manufacturing beyond China, we are managing operating expenses, working capital and cash; negotiating with suppliers; evaluating pricing strategies; leveraging tariff exemptions where possible; and pursuing other supply chain optimization activities.
Previous wording
Given the uncertainty regarding the scope and duration of the current and potential tariffs, as well as the potential for additional trade actions by the United States or other countries, the ultimate impact on our business and results of operations is uncertain but could be material.
Current wording
Given the uncertainty regarding the scope and duration of the current and potential tariffs, as well as the potential for additional trade actions by the United States or other countries, the ultimate impact on our business and results of operations is uncertain but could continue to be material or worsen.