Revenue Growth Amid Industry Decline
Total revenue increased by 2% to $553 million, while same-store sales also grew by 2%, outperforming the broader industry which saw declines in excess of 15%.
Successful Inventory Management
Total inventory decreased by 14% year-over-year, with plans to end the fiscal year with a 10% to 15% reduction, contributing to a more optimized portfolio and focus on high-performing brands.
Strong Pre-Owned Boat Sales
Pre-owned boat sales increased by 18% to $126 million, driven by higher volume and average unit price, offsetting the decline in new boat sales.
Positive Customer Feedback and Product Reception
Early customer feedback on new models has been positive, with owners responding well to the latest innovations, supporting future sales.