Financial Data and Key Metrics Changes - Net sales for the quarter were 166million,adecreaseof104 million or 39% compared to the prior year period, driven by a deliberate reduction of inventory and lower store count [17][18] - Gross profit for the quarter was 44million,anincreaseof6 million compared to the prior year period [18] - SG&A expenses improved to 39millionforthequartercomparedto49 million in the prior year period, primarily due to reduced overhead personnel and marketing expenses [18][19] - The company achieved a gross margin of 24% excluding LIFO adjustments, representing a 10% increase compared to the prior year [18] - Adjusted EBITDA loss was 4million,animprovementcomparedtothelossof18 million in the prior year period [19] Business Line Data and Key Metrics Changes - New unit sales were down 36% or 912 units in the quarter, while average selling price for new units was 15% better for the quarter [16] - Pre-owned retail unit sales were down 48% or 655 units during the quarter, reflective of divestitures [16] - Gross margins for new vehicles were 11% for the quarter, a 7% increase compared to the prior year period, while used vehicle gross margins were 21%, a 10% increase [17] Market Data and Key Metrics Changes - New inventory comprised of 82% model year 2025 and 2026 units, up significantly from last quarter [13] - The company noted a shift towards single axle towables and first-time buyers, with motorized inventory sales improving 11% in the first quarter versus the fourth quarter [13] Company Strategy and Development Direction - The company outlined a two-part strategy focused on optimizing dealership footprint and maximizing operational performance [5] - The sale of five dealerships to Camping World allowed the company to significantly deleverage its balance sheet by repaying approximately 145millionindebt[6]−Thecompanyenteredintoaletterofintenttodivestthreeadditionalstores,aimingtorefineitsfootprintandreinforceitsfinancialposition[7]Management′sCommentsonOperatingEnvironmentandFutureOutlook−ManagementexpressedoptimismregardingtheRVlifestyle′saffordabilityandconsumerattractiondespitepotentialtariffimpacts[9]−Thecompanyiscloselymonitoringcustomerdemandandmacroeconomictrends,includingtariffsandsupplychainshortages[13]−Managementremainscommittedtostrengtheningthebalancesheettosupportlong−termgrowthandstability[20]OtherImportantInformation−Thecompanyreportedalossfromoperationsof2.3 million for the quarter, which included non-cash impairment charges of 2.9million[19]−Thecompanyreduceddebtby145 million during the quarter, contributing to meaningful deleveraging [19] Q&A Session Summary - No questions were fielded following the conclusion of prepared remarks, and the call concluded without a Q&A session [4]
