A challenging retail environment for Winnebago Industries meant net revenues in the third quarter were off slightly compared to a year ago. The Minnesota-based outdoor lifestyle products manufacturer with factories in Forest City and Lake Mills saw net revenues for the quarter at just under 700-million dollars, compared to 775-million for the same quarter last year. CEO Michael Happe says the numbers reflect a demand environment that remains challenged, with stability in the economy -not- likely in the near future.
Happe says despite the challenges of the retail environment, underlying interest in the company’s brands and products remains intact.
Happe says when looking at the market share for the company’s products, retail results showed positive momentum across all three of their motorized brands, a signal that the investments they’ve made in brand strategy are paying off.
Happe says the fiscal discipline the company has maintained continues to keep the company strong.
Net income for the quarter was $14.5 million, compared to $17.6 million in the third quarter last year. The Winnebago portfolio also includes the Grand Design and Newmar RV brands, Barletta pontoon boats, and Chris-Craft powerboats.
