Winnebago Industries reports third quarter profits were down compared to last year as the company leader says they adjust to the uncertain economic environment. The company reported net income for the quarter ending on May 31st at nearly 18 million dollars compared to 29 million dollars for the same quarter last year. CEO Michael Happe says they are continuing the transformation of the company’s struggling signature motorhome line.
Winnebago announced the layoffs in May of about 200 hourly employees at their Iowa facilities in Forest City, Lake Mills, Charles City and Waverly as part of the effort to cut inventory. Happe says they decided to make the cuts in favor of price discounts on the motorhomes.
Happe says things have been tough for the entire industry, and that doesn’t look to change this fiscal year.
Happe says they are optimistic the changes they have made will show some improvement after this fiscal year ends in October and they introduce some new products. He was asked if they plan to move away from their motorhome line given the issues it has faced.
The company is now headquartered in Minnesota and also makes boats along with the RV’s and towable campers.
