Winnebago Industries executives say high interest rates and weak demand are contributing to declining sales. Winnebago makes recreational vehicles at facilities in Forest City, Lake Mills, Charles City and Waverly. The company’s reporting revenue in the first quarter of its fiscal year was 763-million dollars –a decrease of almost 20 percent compared to the first quarter of last year. Winnebago CEO Michael Happe says his company knew when the fiscal year started in Septemer that there were many obstacles ahead.
Happe says those challenges will continue into the company’s second quarter.
Gross profit for Winnebago in its first quarter was down 28 percent when compared to the same quarter last year.
