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THOR Industries, Inc. reports company developments across its recreational vehicle manufacturing business, including quarterly results, wholesale unit trends, product mix and regular dividend actions. The company owns operating subsidiaries that manufacture motorized and towable RVs, including Class A, Class B and Class C motorhomes, travel trailers and fifth-wheel towables, with North American brands and European operations expanded through Erwin Hymer.
Recurring news also covers THOR's operating model, leadership appointments, investor relations changes, data and digital platform initiatives, supply-chain capabilities and aftermarket component activity through Airxcel. Updates may address brand-level developments involving businesses such as Tiffin Motorhomes, Thor Motor Coach and Keystone, as well as collaboration across dealers, OEM customers and supply partners in the RV ecosystem.
THOR Industries (NYSE: THO) has appointed Christina Hennington and Laurel Hurd to its Board of Directors, effective September 1, 2021, while announcing the retirement of Allen Kosowsky. Hennington, currently with Target, brings extensive merchandising and growth strategy experience, while Hurd, from Newell Brands, has over 30 years in consumer goods, including P&L oversight of a $3 billion portfolio. The Board's refreshment plan aims to enhance governance and strategic direction.
On June 17, 2021, THOR Industries announced a quarterly cash dividend of $0.41 per share, set to be paid on July 16, 2021. Shareholders of record by July 2, 2021 will qualify for this dividend. THOR Industries operates as the largest manufacturer of recreational vehicles globally, emphasizing its market leadership position.
Sanuk, a division of Deckers Brands (NYSE: DECK), has launched its second capsule collection in partnership with Airstream. This new footwear line features four styles, including the popular Donna and Vagabond slip-ons, as well as Glamper ST and Tow'd Up ST flip-flops, all available on Sanuk.com. The collection emphasizes comfort and premium materials, including leather and eco-friendly foam, with prices ranging from $55 to $80. This release aligns with the summer travel season, enhancing Sanuk's efforts to provide stylish, travel-ready footwear.
THOR Industries reported record financial results for Q3 FY2021, with net sales of $3.46 billion, tripling from $1.68 billion in the previous year. The net income reached $183.3 million, equivalent to $3.29 EPS, a significant rise from $24.1 million and $0.43 EPS last year. The strong performance is attributed to increased demand in both retail and wholesale markets following pandemic-related shutdowns. The order backlog exceeds $14 billion, indicating sustained demand. However, supply chain challenges continue to pose risks to production capabilities.
THOR Industries, Inc. (NYSE: THO) has announced that its fiscal third quarter earnings release is scheduled for June 8, 2021, before the market opens. The Company will provide a comprehensive Q&A document and a slide presentation on its website upon the earnings release. THOR is recognized as the world's largest manufacturer of recreational vehicles. For more information about the Company and its products, visit www.thorindustries.com.
Pottery Barn, part of Williams-Sonoma (NYSE: WSM), collaborates with Airstream to launch a new home decor collection inspired by adventure. This collection features over 40 items, including bedding, dinnerware, and travel-friendly accessories, priced from $12 to $899. Pottery Barn President Marta Benson emphasizes the blend of style and functionality. Key highlights include OEKO-TEX certified bedding and eco-friendly materials made from recycled plastics. This expansion reflects growing demand for adventure-themed products, coinciding with the summer travel season.
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THOR Industries (NYSE: THO) released its 2020 U.S. RV Rental Study, revealing important consumer insights into RV rental experiences and purchase likelihood. The study indicates a strong correlation between renting and future purchases, with 73% of respondents likely to buy an RV, and 66% indicating they may purchase within 6-11 months. Additionally, 97% expressed satisfaction with their rental experience. The findings emphasize the importance of understanding consumer behavior in the RV industry for targeted marketing and enhancing customer loyalty.
THOR Industries (NYSE: THO) has successfully repriced its Senior Secured Term Loan B, reducing interest rates on both USD and EUR tranches. The USD Term Loan balance of $942 million now has an interest rate of LIBOR +300 bps (from LIBOR +375 bps), and the EUR tranche of €503 million is now EURIBOR +300 bps (from EURIBOR +400 bps). This repricing is expected to yield annual cash interest savings of approximately $13 million. The maturity date remains February 1, 2026, with no significant changes to covenants.