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Powersports Business • July 2024 • 15

According to BizTimes . com , BRP ’ s layoffs took place in two rounds , with the first one taking place in March and affecting 150 workers . The second round of cuts happened on May 23 , giving notice to 148 workers .

BRP reported a 48.5 % decrease in net income in the last fiscal year . Softened demand and a mild winter have had a knock-on effect on sales . Both marine and snowmobile sales saw revenue drops in Q4−FY24 . Seasonal

products , which includes snowmobiles , decreased 27.8 % year over year . BRP said the decrease was attributable to “ unfavorable winter conditions .” Given its focus on managing network inventory levels , the company said it expects Q1 Fiscal 2025 EBITDA to be down approximately 35 % versus the last fiscal year period .

BizTimes notes the layoffs included new and low-hour employees .

“ Our fourth quarter results ended within our guidance despite unfavorable winter conditions affecting our snow-related business ,”

José Boisjoli , president and chief executive officer of BRP Inc ., told BizTimes .

In October 2022 , BRP announced plans to invest $ 14 million to expand its manufacturing facility in Sturtevant , which had 720 employees at the time . The expansion was to support the production and distribution of the Sea-Doo Switch , which the company began producing in January 2022 . The expansion included improvements to the existing facility and the development of a 30−acre offsite shipping yard to store finished products before distribution .

Massimo shares that its P-22 Limited

Pontoon boats offer a luxurious and comfortable experience for entry-level customers . Photo courtesy of Massimo

Massimo launched a Pontoon Boat Pilot Program with Tractor Supply Company for instore product placement in select Texas stores .

Tractor Supply Company serves the needs of recreational farmers , ranchers , homeowners , gardeners , and pet enthusiasts . The company operates over 2,200 stores in 49 states and currently sells kayaks , canoes , fishing boats , and pedal boats . Massimo Marine products will be the first pontoon boats available in Tractor Supply stores , including the entry-level P−22 Limited Pontoon on the floor , and the mid-level P−24 , T−25 , and T−30 lineup available to order .

“ Building on the success of our current agreement with Tractor Supply Company providing our full Massimo Motor product lineup online and in stores , we now have the opportunity to offer Massimo Marine products to customers of the largest rural lifestyle retailer in the U . S .,” says David Shan , founder , chairman , and CEO of Massimo . “ This in-store pilot program will include six stores closest to our headquarters in Dallas , and if successful , could become a regular in-store item and roll out to more locations across the United States … We continue to see strong demand in our marine

segment , with the North America pontoon boat market expected to grow from $ 1.2 billion in 2021 to $ 2.0 billion by 2028 according to Business Market Insights . Looking ahead , combined with new product initiatives and a growing distribution network , we believe Massimo Marine will continue to expand its revenue and profit contribution to our brand in the years to come .”

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