Good Morning! 

It’s been an exciting week of earnings starting and new products rolling out. Beginning with Traeger, they reported earnings this week and are seeing positive signs from sell-through. They also are having success through their relationship with The Home Depot by utilizing a dedicated field team and cooking demonstrations.

On the tariff side, they booked a large chunk of their projected tariff refunds in Q1 but haven't starting receiving the cash yet. There was some discussion around their accounting treatment and how much they'll receive in refunds. Given they lower tariff environment, they've slowed their diversification away from China.

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Memphis in May is going on, and Weber used that opportunity to reveal a new grill. They brought a Santa Maria grill that they competed with at the event. It’s similar to what Blackstone released with their Bronco but a few notches nicer. The only downside is it won’t be available until 2027.

Solo Brands is still deep in the process of transforming their business. They completed a reduction in force in March and made comp adjustments. On the plus side, they’ve seen positive DTC sales in April and have started receiving tariff refunds.

Current Backyard is in a class of their own with their electric products. They just upped the bar again with the new G2 electric grill that promises more even heating and easier cleaning. They also released the Model P+ electric pizza oven that has faster heating times with the same connected experience as the Model P.

Finally, Yeti continues to expand into cooking. They added to their carbon steel cookware line with a new 12” pan. Their carbon steel cookware is a nice compliment to their cast iron cookware.

Go Pistons!

Wes Wright

Founder and CEO

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