But that masked a big problem for the company – weaker discretionary spending. Winnebago blamed "lower unit sales related to current market conditions and dealer efforts to reduce inventories, and higher discounts and allowances." CEO Michael Happe said "the consumer market continues to be challenged, and our fourth quarter results reflect a stubborn retail environment." By the second half of the fiscal year, though, Happe is optimistic that inventories will normalize and consumer demand will stabilize. Winnebago's stock, which was down 3% Wednesday, had fallen about 13% over the last three months, far underperforming the broader market.

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Persons: Winnebago, RVs, Price, Michael Happe, Happe Organizations: Winnebago Industries Inc, Industries Locations: Salt Lake City , Utah, U.S, Winnebago