Fleetwood Enterprises Inc. reports its total RV sales revenue declined 17% during the three months ended July 29 to $265 million.
The primary reason for the decline during Fleetwood’s first fiscal quarter was the company’s towable RV segment, which incurred a 26% plunge in sales revenue to $105 million.
Meanwhile, Fleetwood’s motorhome sales revenue declined 9.5% during the May-through-July period to $133 million and its folding camper sales revenue slipped 7% to $26 million.
The company’s motorhome operation has struggled for over a year, but during the three months ended July 29, “Class A sales showed slight improvement, but Class C sales were significantly impacted by the recent relocation of production to a facility in Riverside, Calif., which is just now reaching production efficiency,” according to the company.
Fleetwood’s total first fiscal quarter sales, including its manufactured housing operation, were down 22% to $562 million. Its manufactured housing revenues fell 27% to $288 million during the three months ended July 29.
Fleetwood will reveal its first fiscal quarter earnings in about four weeks, but the company expects to report another loss. However, it “anticipates improved operating results compared with the same quarter in the prior year and the most recent quarters.”
Earlier this summer, Fleetwood gave its dealers previews of its model year 2002 RV product offerings and the dealers’ “enthusiasm has increased our confidence that we will receive a significant return on our investment in new product development,” according to Nelson Potter, president and CEO.