The Lincolnshire, Ill.-based company plans to either sell, repurpose, relocate or close 27 to 37 stores that sell outdoor lifestyle products rather than RVs, Camping World’s core business. The company has 165 locations that sell or service RVs.
“We believe the sale and/or servicing of recreational vehicles is our core and most important offering and, with the RV and outdoor consumer crossover, we believe there is an opportunity to continue growing our market share and improve our financial performance through the operation of locations with RV sales and/or service and, when feasible, our hunting, fishing and camping products,” said Camping World Chairman and CEO Marcus Lemonis.
Camping World unveiled its strategy shift weeks after a second-quarter earnings miss sent shares sharply downward. Sales of new vehicles declined 6.3% to 22,906 units.
The company’s stock is down more than 40% so far this year.
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