Camping World Announces Aggressive Greenfield Market Expansion

Rhea-AI Summary

Camping World Holdings, Inc. (NYSE: CWH) announced plans to expand its national presence by opening over 20 new greenfield locations in the next three years, alongside strategic acquisitions. Chairman Marcus Lemonis emphasized the importance of growing revenue and earnings, aiming for $1 billion in adjusted EBITDA. The new locations will add 350-450 service bays to the existing network and enhance the Good Sam customer base. Camping World currently operates more than 185 SuperCenters nationwide, focusing on RV sales and services.

Positive

• Plans to open over 20 new locations in three years, expanding market presence.
• Expected addition of 350-450 service bays, improving service capacity.
• Aiming for $1 billion in adjusted EBITDA, indicating growth potential.

Negative

• None.

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), America’s Recreation Dealer, today announced plans to aggressively expand its national footprint through the opening of 20 or more new greenfield locations over the next three calendar years, in addition to strategic and opportunistic acquisitions.

"In addition to delivering what we consider to be market leading dividends and executing our board authorized share repurchase program, we remain primarily focused on growing our Good Sam business, the company’s footprint, revenue and earnings as we drive to our internal goal of one billion dollars of adjusted EBITDA,” said Marcus Lemonis, Chairman of Camping World.

Lemonis added, “The openings of these new greenfield locations are over and above any strategic and opportunistic acquisitions and should add an additional 350 to 450 service bays to our existing service network, grow our Good Sam customer database and expand the market for our portfolio of Good Sam products and services.”

As Camping World/Good Sam continues to search for locations in key markets, sites in progress include the following:

• San Martin, CA
• Georgetown, DE
• Daytona Beach, FL
• Kansas City, KS
• Birch Run, MI
• Chesterfield, MI
• Lansing, MI
• Traverse City, MI
• Branson, MO
• Cape Girardeau, MO
• Madison (Cleveland market), OH
• Sunbury (Columbus market), OH
• Billings, MT
• Lincoln, NE
• Mesquite, TX
• St. Albans, VT
• Green Bay, WI
• Oshkosh, WI
• Hurricane, WV
• Cheyenne, WY

Camping World Holdings currently owns and operates over 185 SuperCenters nationwide, with most locations specializing in RV sales and service, RV parts and accessories, outdoor lifestyle products and its entire portfolio of Good Sam products and services. As part of the company’s growth strategy, the brand is making major investments in the quality and expansion of its dealer network. From new strategic acquisitions, new store development, increases in service capacity and facility upgrades and expansions, the company’s network will continue to expand and evolve while serving their customers' outdoor, RV and camping needs.

Camping World is always looking for seasoned and professional RV sales associates, technicians, and retail support to assist with locations across the country. Individuals interested in applying for a position with Camping World may visit http://www.campingworldcareers.com/.

About Camping World Holdings, Inc.

Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is America’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy, and our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly-trained and knowledgeable team of associates serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enables us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With over 185 locations in 40 states, Camping World, and sister company Gander RV & Outdoors, have grown to become prime destinations for everything RV. For more information, visit www.CampingWorld.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements about our growth plans, key markets, stage of development and market expansion, our expectations regarding market potential, demand and market for our products, business plans and goals, our plans and our beliefs regarding our competitive position and prospects for the future, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2020 with the SEC on February 26, 2021, as updated by our Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and our other filings with the SEC. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005418/en/

Karen Porter

PR-CWGS@campingworld.com

 

Source: Camping World Holdings, Inc.

FAQ

What are Camping World's expansion plans for 2023?

Camping World plans to open over 20 new greenfield locations across the U.S. in the next three years.

How many service bays will the new locations add to Camping World's network?

The new locations are expected to add 350 to 450 service bays to the existing network.

What is Camping World's goal for adjusted EBITDA?

Camping World aims to achieve $1 billion in adjusted EBITDA.

Where are some targeted locations for Camping World's expansion?

Targeted locations for new Camping World stores include San Martin, CA, and Daytona Beach, FL, among others.