Housing turmoil hurts Fleetwood
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Fleetwood Enterprises Inc., a maker of travel trailers, motor homes and manufactured housing, said quarterly sales fell 20% as weakness in the U.S. economy kept consumers out of showrooms and made the company’s traditionally slowest quarter even tougher.
In a preliminary report on its fiscal third quarter results, Fleetwood said it booked sales of just $354 million, down from $443 million a year earlier.
The company said it expected to report a “significant” operating loss for the quarter when final numbers come out March 6.
Fiscal year to date, Fleetwood’s sales are down 10% to $1.35 billion, the Riverside-based company said.
Fleetwood, Winnebago Industries Inc. and other recreational vehicle makers have seen a sharp drop in showroom traffic in the last 12 months as turmoil in the U.S. housing market has weighed on consumer confidence.
In November, motor home sales continued to weaken, according to industry numbers, with unit registrations down 14% from a year earlier.
Fleetwood shares fell 32 cents to $4.68.
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