Camping World stock tanks again

16

From the Motley Fool
(Jan. 1, 2019) — Shares of Camping World Holding’s stock – already performing 10 times worse than the rest of the stock market this year with a share price loss of more than 70% – took another plunge Monday morning, falling nearly 10% before retracing to close the day down “only” 8.1%.

The reason: On Friday, after the market closed, Camping World filed an 8-K notification with the SEC, advising that its president, Roger Nuttall, “resigned from his position as President of Camping World, Inc. and [its subsidiary] FreedomRoads Holding Company, LLC” – 10 days ago.

Camping World didn’t provide any context for the announcement, such as whether Nuttall resigned of his own volition or was forced out. Nor did management explain why it delayed telling investors of this departure for so long after it happened.

Investors apparently aren’t pleased with either omission, and to indicate their displeasure, they’re selling off shares of the RV retailer and service provider stock. That Camping World waited a week to tell us about Nuttall’s departure may even raise SEC implications regarding selective disclosure of news material to the stock, and the potential for lawsuits.

Read more at the Motley Fool.

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Robert Peavey
1 year ago

Well, this is a sad story but wholly predictable. When your goal is entirely focused on making money and good customer service and selling quality merchandise are not, your bound to lose.
From time to time, I find myself going there and leaving without buying a single item. I go with some hope that the experience will change but it does not. While this is a generalization and I am certain there are some pleasant exceptions, I am usually compelled to look for someone to help me and am flabbergasted at how few sales people know about the products they sale. I travel all over the country and so my observations are not limited to a single store in my home town. This is a company-wide problem. When I see episodes of Lemonis and the “The Profitt,” the man that focuses on appearance, attitude, customer service, quality, and pricing appears to NOT take his own advice to others to ensure that CW follows the same business model. CW is in the beginnings of a death spiral. All of this reorganization is a classic example of panic-management and does not bode well for its future. Be assured that Lemonis WILL be closing stores. He will call them unprofitable but not for the reasons his investors will assume. It will not be because the “times” are bad and the economy is shaky. He will close stores because he NEVER implemented the concept that quality service, quality merchandise, fair pricing in retail sales and RV repair service were paramount to the CW experience. He has virtually NO customer loyalty except maybe from his personal friends or employees. All you have to do is read the reviews from people all over the country. How many positive reviews do you read about shopping at CAMPING WORLD? Damn few! Mr Lemonis could change things around. He has the talent to do it. But, the challenge for him is the CW is just a business. It is NOT his passion. He does NOT BELIEVE in the camping and recreational travel culture and hence, he does not understand why he is unable to connect. As long as these issues remain HIS problem, he will, unfortunately, become his own victim and CW will slowly sink and join other once-great businesses who forgot the basics of being a success —- take care of your customer!

Jeff
1 year ago
Reply to  Robert Peavey

Robert Peavey: All very well said and I agree totally with your comments.

Much like Sears and Kmart will soon be gone, because the CEO had NO Retail experience and figured it was all about making money. Thank Goodness Sears sold off the CRAFTSMAN Line to Lowes Hardware.

Lemonis has no clue about running a business, just making money so he can buy a NEW Jet every year or a new BENTLEY Limo!

Here is an example that happened to me:

I ordered a New Select Comfort Bed from them, it was a good price. Of course the Jackson, MS Camping World did not have it in stock. But, told me it would be in about a week. A week passed and they called for me to come pick it up. I went to Camping World, paid for it and left. Now, a couple of days later, CW called me and told me my Bed was in?? HAH, WHAT? I told them, I had picked it up a few days ago. OK, they said. Another Couple of days go by and CW called again, asking me to please come and pick up the bed! Once again, I told them I had already picked up the bed. I then spoke to a manager and he didn’t have a clue what I was talking about! Told him the story and that was the last time I heard from them.

So, you can see CW is really out of touch with the Customers!

NOPE, NEVER SHOP OR BUY ANYTHING FROM CW, EVER!

Karen Willis
1 year ago
Reply to  Robert Peavey

So true!

Lee
1 year ago

I, too, stand aghast…
OK mebbe not. 11-12 years ago, when we first got into RVing CW was a good place to get parts and services at a good price. Now, I can get better prices at the local mom and pop RV shop and don’t have to travel.

DABEE
1 year ago

Old lemonis said that he did not want Trump supporters to shop at camping world so I let my membership die and quit shopping there. I do get a better deal at an RV Dealer.. Saved a hundred dollars on one item. Will not shop there again.

Sandra
1 year ago
Reply to  DABEE

Yup, that’s when we gave up on CW too.

Michael hayes
1 year ago
Reply to  DABEE

I dont go where i am not wanted. Turned out my local RV dealer was happy to do business with me so now Lemonis, my local dealer and me all got what they wanted.

Greg
1 year ago

I do not find Camping World much different then any other large RV dealership chain. Why do people usually hope for the worse outlook for a company instead of hoping they change direction to help the consumer instead. The RV industry is heading for a slow down once again. Poor quality, a slowing economy, higher interest rates along with other factors are contributing to this. I hope the industry from the manufacturers to the dealerships change their ways because they all have their faults. Camping World disappearing will not fix the large picture, it will just let someone else move into the number one spot of putting the dollar in front of the consumer and many individuals having their lives turned upside down because of job loss. You all have a choice where to buy and have your camper serviced.

Jack White
1 year ago

Marcus Lemonis is the one that should have been fired.
I haven’t liked CW for several years because they are trying to monopolize the RV industry by buying up dealerships and RV accessories and parts dealers.
The only time I purchase from CW is when I can’t find the item any other place.

Curtis McRee
1 year ago

Camping World has been fouling up peoples lives that buy from them for years. I hope they lose all of what they have cheated people out of including me.

Bob p
1 year ago

Amen to all the negative comments, he took over a good American business that took many conscientious people that built a good business that benefited everyone and turned them all into something no one enjoyed. CW was a very competitive supplier of parts and accessories, now it’s a bunch of rip off artists with cheap quality merchandise. I quit shopping at CW shortly after lemonis took over and will not shop there until he’s long gone.

Jeff
1 year ago
Reply to  Bob p

Hopefully Lemon Head will see these comments, but probably not. Maybe one of his many crooked and contemptible managers will see these comments and pass them on.

Honest Americans who DO NOT support companies like Camping World will STAY away!

Dr4Film
1 year ago

Lemonis and his wife are scumbag business people with unscrupulous ethics. They deserve everything that is coming to them.

Roy
1 year ago

Can only hope that the demise of this corporation is as long and painful as their service process is.

Darrel
1 year ago

Good! The CEO destroyed Good Sam Club and the reputation of Camping World. Their business practices are horrendous. I hope they go bankrupt

Jeff
1 year ago

THIS IS GREAT NEWS! Maybe LEMON Head “Lemonis” will be forced to Sell Camping World and hopefully to someone who can actually run a business properly!