Camping World Holdings has strong Q1

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Camping World Holdings has strong Q1

By Marianne Wilson - 05/08/2018
Camping World Holdings saw its sales rise in the first quarter as the company continues to expand its RV-centric footprint.

Total revenue increased 20.4% to $1.1 billion in the quarter ended March 31. Total same-store sales rose 3.9%.

Camping World’s income from operations, net income and diluted earnings per share decreased to $49.8 million, $17.3 million, and $0.08, respectively, and reflected $19.7 million of pre-opening expenses related to the Gander Outdoors store openings. Its adjusted net Income increased 16.5% to $36.9 million, and adjusted earnings per share increased 9.7% to $0.41.

“While the unseasonably cold weather throughout a good portion of the country has likely impacted the early part of the peak selling season, we believe the backdrop across the RV industry remains strong and we continue to plan our business around a mid-single digit increase in same store sales in 2018,” said Marcus A. Lemonis, chairman and CEO, Camping World. “We remain committed to profitable growth and have not seen any changes in the overall acquisition environment.”

In the first quarter, the retailer announced five new acquisitions with six locations across five different states. It also said it plans to open eight new locations late this year and early next year “that we anticipate will begin to combine all of our brands in one location and serve a broad range of RV, outdoor and active lifestyle customers,” Lemonis said.

Camping World Holdings operates 141 Camping World retail locations in 36 states, along with such other outdoor brands as Good Sam, Gander Outdoors, Overton’s, Uncle Dan’s, and Erehwon Mountain Outfitters.

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