Want to see what weak discretionary spending looks like? See Winnebago's results
Publishing timestamp: 2023-10-18 13:41:16
Summary
Winnebago reported solid fourth quarter earnings, beating expectations, but revenue fell short due to weaker discretionary spending. The company blamed lower unit sales, reduced inventories, and higher discounts and allowances. CEO Michael Happe expects these challenges to continue into the first half of the new fiscal year but is optimistic about stabilization in the second half. Winnebago's stock has underperformed the broader market, reflecting challenging demand conditions in the industry.
Sentiment: NEGATIVE
Keywords: winnebago industries inc, business, business news, thor industries inc, breaking news: business, autos, transportation,
Source: https://www.cnbc.com/2023/10/18/winnebago-revenue-shows-weak-discretionary-spending.html