Camping World stock slides – closing dozens of stores

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By Russ and Tiña De Maris

Marcus Lemonis’ bold plan to expand his recreational territory isn’t playing out as well as expected. With Camping World stock sliding 40 percent this year alone, Lemonis announced Monday that CW will shut down somewhere between 27 and 37 of its stores that don’t directly sell RVs.

Evidently Camping World’s CEO feels the pain, and sees the need to get back to basics. In a statement Lemonis said, “We believe the sale and/or servicing of recreational vehicles is our core and most important offering.” Emphasizing the company’s determination to stick with the recreational vehicle lifestyle as a target, Lemonis added, “We will continue to operate our RV sales and/or service locations under three banners: Camping World, Gander RV and Outdoors, and Gander RV.”

Camping World stock slides – closing dozens of stores
nick youngson cc by sa 3.0 alpha stockimages

The sell-off is a major retreat from the company’s 2017 trumpet call when CW pumped $100 million into buying up outdoor retailers Uncle Dan’s and Rock Creek, along with bankrupt Gander Mountain locations. At that time Lemonis touted the move would “give us access to a more diverse base of outdoor lifestyle consumers” and attract a “loyal customer following that we believe will leverage over time by cross-selling products and services.”

Company stock has tanked, recently hitting a $7.12 per share level, compared to its high point of $47 per share in December 2017.

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Tony King

I very, very rarely buy anything from Camping World for the simple reason I “ Price Shop” on the Internet and have for years. I definitely wouldn’t have any work done there or would I ever buy a RV from their lots. There is lots of cheaper, better choices.

Jann Forrest

Kind of sad it has come to this as I remember our local Camping World to be efficient and friendly service. As I understand it Gander are the stores that may be closing. I hate to see people getting ripped off and hate to see employees losing jobs and hate to see all the hate spewed on social media. Some in this group sound like Facebook posters. Part of the problem seems to come from Facebook rumors advising people to drop their service’s that were paid for, drop their roadside protection, drop this and drop that. The strange thing is… Read more »

Marilyn Cundiff

Perhaps if Camping World service departments operated in an honest manner they would not be in the position they are today. Providing honest, quality service in a manner that respects customers might be a good place to start. Consumer beware.

Verlyn Eisert

Their quality of sevice fails. I had to go back 3 times to have a problem made right. The Service Manager had to be there with the Technician to see it got done right. I was also there. What a nightmare! !

Gerry

I am pretty sure that Marcus Lemonis is the same CEO that said “He did not need my business if I supported President Donald. Trump” so I quit going there to purchase anything. I guess there were a few of us that felt that way. 😉😉😉

Chuck Woodbury

Gerry, In defense of him, he never said that. What he said has been distorted and passed around social media where it has been presented as truth. In this case I’ll stand up for Lemonis, who is not my favorite person.

Billy Bob Thorton

Chuck, stand up statement. Kudos to you.

MikeJ

Chuck, what DID he say?

WEB
Glenn

Gerry, I am one of those who stopped shopping at CW after Lemonis made that statement.

Booneyrat

Karma is a real *****…and what goes around…comes around.

Ron James

Another example of you reap what you sow. This outfit has screwed over several friends/relatives over the past few years and I, for one, hope they go belly up so they don’t ruin anyone else’s life.

egwilly

The writing has been on the wall for a while now.
I don’t like to see folks lose their jobs, but I don’t shop at Cramping World since the nearest one to us is over 50 miles away. The folks at that store are rude and not customer oriented,
Much easier to buy from on-line companies that have better prices and options.

Captn John

Long before cw goes out of business many or most small businesses will fail. I actually like my local cw location. But the industry has overgrown during the boom and should be brought into reality. 250,000 units annually would be a good number.

Billy Bob Thorton

Oh great, hundreds if not over a thousand people collectively are losing their jobs, and you guys are on the sidelines cheering. Really! I root for any business owner who creates jobs, and helps make a better life for America’s citizens. Count me out on the Marcus bashing, it doesn’t make sense. Yes business go through expansion and contractions, but at seven bucks a share, buy, buy, buy!

John Clark

Those “hundreds if not over a thousand people” should have thought about job security when they provided poor customer service.

Billy Bob Thorton

Harsh words my friend. Hope you do not suffer the unkind result of a business failure. Just the same, I wish you luck in your travels through life.

Chuck Woodbury

Billy Bob, we are doing great. Our subscriber data base just passed 97,000, which is up at least 10,000 over this time last year. There is room in RV-land for our voice, which I believe is necessary. Thanks for wishing us luck. The more luck the better!

Richard Charron

You may or may not be aware that all of Camping World stores were owned and managed by individuals until being purchased by Camping World. If there is a need or an available market these stores will simply revert back to the original owners or someone will start anew to fill the gap. Customer Service, Customer Service, Customer Service is what it’s all about and as this mega corporation continued to grow this was lost along the way. Believe me someone will fill the void and hire all those people. The biggest fear is that the inventory from these closing… Read more »

Sink Jaxon

Sir, I agree with your concept in many ways if it’s justified, but consider the source. It’s kind of like the robber barons of yesteryear, how they destroyed and polluted the land, then just left the mines when the ores were depleted. Yes, they EMPLOYED people (albeit basically at slave wages), but a lot of people died working for those robber barons with little compensation. Back to present day, Mr. Lemonis took a business, that was well established with a great reputation, that many RV’rs trusted, and destroyed everything it stood for. Good Sam is a rubber stamp now for… Read more »

Carl

It all well and good to be angry with Marcus Lemonis and to spew hateful wishes but CW has 1,000s of employees who DO NOT set CW’s sales policy. I have no love for Marcus and would like to see him go down. But hoping to see closed Camping World buildings along the side of the highway is tantamount to wishing that lots of innocent people lose their jobs and the ability to survive financially.

Anonymous

However, those same thousands of employees are the ones who, again and again and again, deliver substandard RV repairs and service, and give lousy customer service in the “retail store” side of the business.

Sink Jaxon

Let’s hope that, if that happens…a lot of those people can see this as an opportunity to get together and open up RV service/sales companies, and go beyond the dead end jobs CW provided.

Jeff

FIRST OFF, DO NOT BUY Anything from Camping World.

I will enjoy seeing Camping World go out of business and will enjoy seeing all those empty Buildings along the side of the Highways.

I will NOT enrich Marcus Lemonis anymore!

Jeanne Davis

With you all the way on this one!!!

John Giarrusso

First off all CEO’S should keep thier mouth shut when it comes to Politics ! Second if they have an attitude like Marcus he spews absolute hate towards customers and it shows through out the business, service stinks prices high no way to run a business.

Glad your going down Marcus

there will be someone there to pickup the pieces and provide quality and Polite service.

Dr4Film

Can’t wait until they are completely out of business and no linger taking advantage of people while ripping them off both at their stores by charging higher prices to begin with and providing terrible service in their sales & service areas. Oh did I mention they are the worst emergency roadside service you could ever sign up with.