Camping World Holdings Reports Revenue up 12%

Mar 11, 2019 | Member News

Camping World Holdings, headquartered in Lincolnshire, Illinois, reported its revenue increased 12 percent to $4.8 billion for the year ending December 31, 2018. The company’s gross profit was up 9.8 percent to $1.4 billion. Its Good Sam Club memberships reached an all-time high of 2.1 million. They increased 16.7 percent year over year.

 

Revenue was up 10.6 percent to $982.4 million in the fourth quarter, while gross profit increased 3.8% to $982.4 million. Its gross margin declined 186 basis points to 28.1%. Its losses from operations, net loss and diluted loss per share of Class A common stock were $43 million, $71.5 million and 83 cents per share. They included $40 million goodwill impairment charges and $2.4 million for Gander Outdoors pre-opening costs.  

 

Camping World’s dealership revenue decreased .8 percent to $717.6 million, while same store revenue decreased 7.5% to $593.8 million across the same store base of 105 Dealership locations. Vehicle units sold decreased 1.6 percent to 17,824 units. New vehicle units sold decreased 6 percent to 11,295 units, while used vehicles sales increased 7 percent to 6,529 units. New vehicle same store unit volume decreased 13.3 percent.  As of December 31, 2018, Camping World operated 141 dealership locations. The company closed three dealerships in the fourth quarter 2018.

 

The company’s retail revenue increased 84.7 percent to $209.3 million. Same store revenue decreased 3.9 percent to $50.7 million, while gross margin decreased 1, 395 basis points to 27.1 percent. The gross profit included a $4.7 million increase in inventory reserves related to Camping World parts and accessories. It closed six Gander Outdoors locations and one Camping World RV location in the fourth quarter of 2018.