Lazydays Appoints Jeff Needles as Chief Financial Officer: A New Era of Growth and Efficiency

Lazydays RV, a prominent player in the RV industry, has appointed Jeff Needles as its new Chief Financial Officer (CFO), effective January 6, 2025. This strategic move comes at a critical juncture for the company, as it seeks to optimize its inventory management, enhance gross margins, and drive future growth. With over 20 years of financial management experience, Needles brings a wealth of expertise in financial planning, cost analysis, and operational efficiency to the table, making him an ideal fit for the role.

In his previous roles, Needles has held CFO positions at Warbird Marine Holdings, LLC, United Enertech Holdings, LLC, and Schnellecke Logistics USA. He has also served in financial leadership roles at Mastercraft Boat Company and Harley Davidson Motor Company. This extensive background in complementary markets, such as multi-location retail marine and powersports, will be a significant asset to Lazydays as it looks to improve its financial performance.

One of Needles' key priorities will be to optimize Lazydays' inventory management to enhance gross margins. In an interview, he mentioned that he will focus on maintaining a healthy inventory position while increasing efforts to procure more used units directly from consumers as trade-ins on vehicle sales. This strategy aims to reduce the average selling price while improving gross profit per unit sold. As of today, Lazydays' new inventory is comprised of 26% model year 2025 units and 69% model year 2024 units, with less than 140 2023 units remaining. Additionally, over 75% of the inventory is towable product, up from 70% at the same time last year. These changes in inventory composition indicate a shift towards newer and more in-demand products, which should help improve gross margins.