Fleetwood Enterprises Inc. reports its RV sales revenue was down 30% and it anticipates reporting a loss for its second fiscal quarter, which ended Sunday (Oct. 29).
Fleetwood, the leading producer of RVs and a major producer of manufactured homes, will issue its complete financial report for the August-through-October period in about four weeks.
During the three months ended Oct. 29, Fleetwood’s RV sales totaled $351 million, compared with a record $498 million during the August-through-October portion of 1999.
Fleetwood’s motorhome operation had the most difficulty, recording a 38% decline to $192 million during the three months ended Oct. 29. Travel trailer sales also were down 16% to $126 million and folding camper revenues were down 10% to $33 million.
During the six months ended Oct. 29, Fleetwood’s total RV sales were down 32% to $669 million. Its motorhome revenues were down 44% to $344 million and its travel trailer sales were down 11% to $266 million. Fleetwood’s folding camper sales also were down 10% to $59 million.
Fleetwood President Nelson Potter blamed higher interest rates, higher fuel costs and the volatile stock market for the lower RV sales experienced by the company.
“While these factors constrain the RV business in the short run, we believe that they are temporary,” Potter said. “We and our dealers have made significant progress in bringing inventories into line with current demand. Further, we continue to be encouraged that the strong underlying demographics and the appeal of the RV lifestyle will bolster long-term demand.”