Welcome to our dedicated page for Camping World news (Ticker: CWH), a resource for investors and traders seeking the latest updates and insights on Camping World stock.
Camping World Holdings, Inc. (CWH) is America's leading retailer of recreational vehicles (RVs), camping accessories, RV maintenance, and repair services. Founded in 1966, Camping World has grown to become a household name for outdoor enthusiasts. The company operates over 85 supercenters nationwide and offers an extensive online and catalog shopping experience.
Core Business: Camping World features a wide selection of new and used travel trailers and motorhomes from top RV manufacturers. In addition to RV sales, the company provides comprehensive RV and tow vehicle services, including maintenance, collision repair, and refurbishment through its RV Spa centers. They also offer hard-to-find parts, technical advice from knowledgeable experts, and RV rentals.
Good Sam Club: Camping World is closely associated with the Good Sam Club, the world's largest RV owners' organization with 1.3 million members. The club offers a range of services including discounts at a nationwide network of 1,700 Good Sam Parks and Resorts, vacation planning, roadside assistance, and more.
Reportable Segments: The company's operations are divided into two main segments:
- Good Sam Services and Plans: This segment includes the sale of emergency roadside assistance plans, commissions on property and casualty insurance programs, travel assist programs, extended vehicle service contracts, vehicle financing and refinancing assistance, consumer shows and events, and consumer publications and directories.
- RV and Outdoor Retail: This segment includes the sale of new and used RVs, commissions on finance and insurance contracts related to RV sales, RV service and collision work, and the sale of RV parts, accessories, outdoor products, equipment, gear, and supplies. This segment also covers business-to-business distribution of RV furniture and related products.
Recent Achievements and Current Projects: Camping World continues to expand its footprint with new store openings and acquisitions. The company has also been investing in digital platforms to enhance the customer shopping experience and streamline operations. Their commitment to quality service and customer satisfaction remains a top priority, evident through their extensive product offerings and comprehensive services.
Financial Condition and Partnerships: Over the years, Camping World has maintained a robust financial condition with steady revenue growth. Their partnerships with top RV manufacturers and numerous service providers have strengthened their market position, providing more value to their customers.
Conclusion: Camping World Holdings, Inc. stands as a cornerstone in the RV and outdoor retail industry. With a rich history, extensive product range, and unwavering commitment to customer service, Camping World continues to lead and inspire the RV community.
Camping World Holdings, Inc. (NYSE: CWH) announced the retirement of Chief Operating Officer Tamara Ward, effective December 31, 2022. She has served the company for nearly 34 years in various executive roles. Matthew Wagner, currently Executive Vice President, will succeed her as COO on January 1, 2023. Ward will remain with Camping World as a senior advisor until 2024 to facilitate the transition. Chairman and CEO Marcus Lemonis expressed gratitude for Ward's contributions, emphasizing the leadership skills of Wagner as the company anticipates future growth.
Camping World Holdings, Inc. (NYSE: CWH) announced its acquisition of Ashley Outdoors, an esteemed family-owned RV dealership located in Salem, Alabama. Set to close in Q1 2023, this acquisition aligns with Camping World's growth strategy, enhancing its service and product offerings in the Southeast. The new SuperCenter will operate under the Camping World brand, featuring a wide array of new and used RVs, outdoor products, and Good Sam services. This move aims to strengthen Camping World's market presence and customer service standards.
Camping World Holdings, Inc. (NYSE: CWH) reported a revenue of $1.9 billion for Q3 2022, down 3.2% compared to the previous year. The decline was attributed to $45.7 million less in product revenue from exited categories. Record used vehicle revenue reached $526.0 million, up 1.2%, with used vehicle unit sales hitting 14,460. However, net income fell to $102.9 million, a 45.6% decrease. Diluted EPS was $0.97, down from $1.72. The company maintained its quarterly dividend of $0.625 per share.
Camping World Holdings, Inc. (NYSE: CWH) announced the release of its financial results for the third quarter of fiscal 2022, scheduled for November 1, 2022, after market close. A conference call to discuss these results will be held on November 2, 2022, at 7:30 a.m. Central Time, with participation available via phone and an online webcast. The Company aims to provide transparency to investors and analysts through this call, emphasizing its commitment to delivering value in the RV retail sector.
Camping World Holdings (NYSE: CWH) has appointed Brett Andress as SVP of Corporate Development and Investor Relations. He will spearhead corporate initiatives and improve communication with investors to clarify the Company's strategies and performance. Previously, Andress served as a Managing Director at KeyBanc Capital Markets, specializing in the leisure sector for 10 years. His hiring is seen as a strategic move to enrich the leadership team, enhancing the Company's growth potential.
Camping World has launched the Good Sam Confidence Program, utilizing the Good Sam RV Valuator™ to offer near real-time fair market values for RVs. This program aims to protect RV owners during buying and selling transactions. CEO Marcus Lemonis highlighted the importance of respecting RV asset values as market conditions evolve. The Good Sam RV Valuator™ leverages decades of proprietary data and is continuously updated to provide accurate appraisals.
Camping World Holdings (NYSE: CWH) is set to enhance its presence in western Washington following the announcement of an acquisition of Clear Creek RV Center dealerships in Silverdale and Puyallup. This deal, which is expected to close in September 2022, will increase Camping World's dealership count in Washington to six. CEO Marcus Lemonis noted the importance of this acquisition in expanding market share in a region with strong RV demographics. The new locations will feature a variety of RVs and associated outdoor products.
Camping World Holdings, Inc. (NYSE: CWH) has promoted Brenda Wintrow to Senior Vice President of Field Operations. Wintrow, with over 15 years at Camping World, has held multiple leadership roles, significantly contributing to the RV business. Her previous positions include VP of Sales and Business Development and SVP of Sales and Customer Experience. CEO Marcus Lemonis highlighted her expertise in enhancing customer experience and adapting to the evolving RV marketplace as crucial for the company's growth.
Camping World Holdings (CWH) has declared a cash dividend of $0.625 per share on its Class A Common Stock. The dividend payment is scheduled for September 29, 2022, to shareholders on record as of September 14, 2022. CEO Marcus Lemonis emphasized the company’s focus on profitable growth and consistent returns. Future dividends will be determined by the Board of Directors based on various operational and financial factors, including performance and capital requirements. Camping World is the largest retailer of RVs and related services in America.
Camping World Holdings reported record revenues of $2.2 billion for Q2 2022, marking a 5.2% increase from the previous year, supported by nearly 39,000 RV sales. However, gross profit decreased by 5.7% to $716.8 million, and net income fell 19.5% to $198 million. Diluted EPS declined to $2.01 from $2.33. Despite these challenges, CWH's vehicle inventory rose to $1.7 billion, reflecting improved supply chain conditions. The company maintained its quarterly dividend of $0.625 per share.
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