Lazydays’ North Eyes ’25 for ‘Meaningful Industry Recovery’ – RVBusiness – Breaking RV Industry News
EDITOR’S NOTE: The following is an excerpt of a report by SGB Media. Click here to read the full report.
According to Statistical Surveys, Inc., U.S. retail year-over-year RV registrations declined 6% in April, 10% in May and 21% in June. While the data could suggest that the trends are deteriorating sequentially, Lazydays Holdings, Inc. cited the information to provide a snapshot more indicative that the seasonal sales increase, typically witnessed in the summer months, has yet to occur this year.
“Our best view is that the second quarter sales trajectory continued in July and most industry experts are pointing to 2025 as the likely inflection for a meaningful industry recovery,” offered Lazydays Holdings, Inc. CEO John North on a conference call with analysts to discuss Q2 results. “So, facing that backdrop, we have continued to focus on the things we can control, maintaining healthy vehicle inventory, improving F&I per unit and achieving substantial total gross margin improvement sequentially from the first quarter.”
Given the quarter’s unit sales volume and financial results, North said that Lazydays Holdings subsequently implemented further cost reductions in August that should be complete by the end of next month. He said these moves should save approximately $25 million annually. He also said the company closed one underperforming location and consolidated two into one close to its Arizona market.
“While portfolio optimization decisions are difficult, they are necessary. Despite these two-store actions, we remain enthusiastic about the rest of our best-in-class locations and will continue to adjust our expense structure as necessary to match the revenue opportunities available,” North said.
Click here to read the full report.
