Good Sam Enterprises LLC posted improved performance for 2012 as revenue totaled $518.7 million, representing an increase of $37.3 million, or 7.8%, from 2011. Good Sam reported the opening of 17 Camping World Inc. stores over the past two years that pushed retail sales to a 15.4% increase.
Net income for the full year was $9.4 million compared to $3.9 million for 2011.
For the fourth quarter, ended Dec. 31, Good Sam reported sales of $122.7 million while the company incurred a loss of just over $1 million.
Good Sam’s financials do not reflect rolling stock sales from the company’s Camping World unit.
A breakdown by segment for the full year showed:
• Membership Services revenue for 2012 of $153.8 million increased $6 million, or 4%, from 2011. This revenue increase was largely attributable to a $6.2 million increase in extended vehicle warranty program revenue due to contract price increases and the development of additional programs, a $1.6 million increase in roadside assistance revenue, a $2.4 million increase in member events revenue due to two additional annual member rallies, and a $0.6 million increase in marketing fee revenue from health and life insurance products.
• Retail revenues of $325.8 million for 2012 increased $43.4 million, or 15.4%, from 2011. Store merchandise sales increased $34.2 million from 2011 due to a same store sales increase of $19.3 million, or 9.9%, (compared to a 1.1% decrease in same store sales for 2011 versus 2010), and a $17.3 million revenue increase from the opening of 17 new stores over the past 24 months, partially offset by decreased revenue from discontinued stores of $2.4 million.
• Membership Services – Media revenues of $39.2 million for 2012 decreased $12.1 million, or 23.5%, from 2011. This decrease was primarily attributable to a $3.9 million revenue reduction resulting from the sale or closure of non-core media businesses in 2011, a $1.6 million reduction in circulation and advertising magazine revenue, a $1.1 million reduction in consumer show revenue resulting from reduced sponsorship revenue and three fewer shows produced, and a $5.5 million reduction in annual directory revenues due to combining two annual directories in order to create an upgraded product with reduced brand confusion, reduced direct mail marketing and phase out the unprofitable CD/DVD version.
To view the entire report click here.
Camping World Inc., the nation’s largest RV and outdoor retailer, today (March 7) announced that it has arranged for additional land on the heels of another successful year at its Harrisburg, Pa., location.
According to a press release, the RV dealership is currently transitioning from Grumbine’s RV to Camping World Super Center of Harrisburg. Grumbine’s RV has been part of the Camping World nationwide chain for almost nine years and seen exceptional growth.
“With a significant presence in Harrisburg, we know from first-hand experience that the city of Harrisburg and the state of Pennsylvania have a business-friendly environment that encourages investment,” said Marcus Lemonis, chairman and CEO of Camping World. “Expanding in Harrisburg allows us to bring additional jobs and significant tax revenue into the Harrisburg economy. With the continued support of city officials and land owners, Camping World is in final stages of expanding the new location. We look forward to extending our commitment to the Harrisburg metropolitan area and the great of state of Pennsylvania for future growth.”
“Camping World has a long-standing relationship with the city of Harrisburg and the state of Pennsylvania. We are very excited to be expanding our location in Harrisburg after many years of discussions and planning,” continued Lemonis. “Shoppers can expect to see a wide selection of RV, parts and accessories at competitive prices, along with top-notch customer service from our knowledgeable sales team. The renovation of this location demonstrates our commitment to the South Central Pennsylvania region and will give the Harrisburg-area residents a convenient place to shop for all of their RV needs. Early discussions have shown strong support and interest from multiple manufacturers, suppliers and vendors looking for additional expansion into this growing market.”
The new Camping World facility is supported by a nearby location in Hanover, Pa.
Camping World Inc. and Good Sam Enterprises LLC today (March 4) announced plans to open a new facility in the Fresno, Calif., market in the first quarter of 2014.
According to a press release, the location will be officially named Camping World of Fresno and offer a wide array of RV sales, service and accessories for the outdoor enthusiast.
Camping World of Fresno will be located off State Route 99 in a renovated facility. The new supercenter will join almost 100 other Camping World locations across the U.S. with 11 already established in the state of California.
“California is an ideal setting for the RV enthusiast with close proximity to great camping and wonderful adventures,” said Roger Nuttall, president of Camping World RV Sales. “We continue to work on identifying locations where we can best serve the needs of the RV community and Central California is a great fit.”
“With the recent success and rebound we have experienced in our California markets, most recently with the Redding opening, we feel the addition of a supercenter in Fresno confirms our love of this area,” said Marcus Lemonis, Camping World chairman and CEO. “With the close proximity to the Sierras as well as the national state parks, the San Joaquin Valley area really fits in our plans.”
Camping World will be opening positions for seasoned and professional RV sales associates, technicians and retail support to assist at this new location. Camping World said its goal is to increase their presence in the Fresno market, provide exceptional service to customers and grow the workforce.
Camping World is the nation’s largest RV and outdoor retailer and Good Sam represents the world’s largest RV owners organization.
The newly renovated Camping World store in of Hanover, Pa., is open for business, offering products to complement and enhance just about every outdoor or vacation activity, according to a report by the Evening Sun.
The business, formerly known as Reichart’s Camping Center, was owned by Dan Saltzgiver since 1990. Saltzgiver is now the general manager of the store, which he sold to Camping World Inc. (CWI) in August 2012.
The old store was closed for one month for renovations and expansion, Saltzgiver said, with the new 8,000-square-foot Camping World of Hanover opening officially on Feb. 8.
With the much larger store it was also necessary to bring in 11 new hires, Saltzgiver said, with the store and service department now having a combined total of 32 full-time and part-time employees. The store’s service department is also being expanded to handle more vehicles, Saltzgiver said, but will continue to offer the same exceptional workmanship and friendly service.
Camping World is “America’s Number One RV dealer” comprised of a conglomerate of 80 retailers across the country, Saltzgiver said, which allows the local store to offer a much wider variety of products and many more RV and camper choices.
“The store is now four times bigger than before and we are offering a lot items that have not been available before – and not just products for RVs or campers.” Saltzgiver said, “We have lots of new items that would be perfect for a home patio or on a fancy picnic.”
The new expanded inventory includes a great selection of items that would be welcome assets for any camping trip or home patio, Saltzgiver said, such as portable electric fireplaces with realistic logs, lounge chairs, patio tables and chairs, a plethora of barbeque grills, plus many unique children’s toys.
“We have a whole area dedicated for children,” Saltzgiver said, “We have a huge variety of toys and games to occupy kids in a car or anywhere else.”
“We want people to realize that we aren’t just a camping store. We have a whole lot more to offer,” Saltzgiver said, “We want people to know that the items they need and want are already here and are ready to ‘pick up and go.’”
While the picnic and patio accessories, children’s toys and miscellaneous gear might bring many non-campers to the store, Saltzgiver said, customers looking for a good buy prior to ‘hitting the road’ will also appreciate what Camping World has to offer.
Within a few weeks the eight and one-half acre tract surrounding Camping World will be home to a rolling stock RV and camper inventory that will be more than doubled, Saltzgiver said, including motorized Class A and Class C units, some of which were not carried by the former Reichart’s.
“We used to stock about 100 to 115 units but now we are going to have well over 200 units on site all the time,” Saltzgiver said, “We will have a whole lot more to offer, not just in accessories.”
Camping World Inc. and Good Sam Enterprises LLC announced plans to open a new facility in the Eugene, Ore., market in September 2013, according to a press release.
The location, officially named Camping World of Eugene, will offer a wide array of RV sales, service, collision, parts and accessories for the outdoor enthusiast. The new supercenter will join almost 100 other Camping World locations across the U.S. with two already established in the state of Oregon in the Portland market. Camping World of Eugene will be located at 90855 Roberts Road in Coburg, exit 199 off Interstate 5.
“Eugene is an ideal setting for the RV enthusiast with close proximity to great camping and hiking trails,” said Marcus Lemonis, chairman and CEO of Camping World and Good Sam. “Our goals as a company are to identify locations where we can best serve the needs of the RV Community and the Eugene area is a great fit.”
Camping World, which for years solely had a retail accessory store in Junction City, Ore., made the decision to move its former location onto the I-5 corridor where the traffic patterns and the customer convenience are second to none. Camping World was approached by several developers and ended up choosing the Eugene area because of the natural beauty and recreational opportunities. With the support of city officials, Camping World was encouraged to build a supercenter encompassing all of its business segments which will generate tax revenue and new employment opportunities to the community.
“We pledged to our customers that when we reopened our location it would be bigger and better than ever, offering easier access to the nation’s best brands and offering the market’s lowest prices,” Lemonis remarked. “The overwhelming result from our other Oregon and Northern California locations gave us the confidence that having a full service supercenter was needed and we felt that a location in close proximity to I-5 was ideal.”
Camping World will be opening positions for seasoned and professional RV sales associates, technicians and retail support to assist at this new location. Camping World’s goal is to increase its presence in the Eugene market, provide exceptional service to customers and grow the work force.
The store will feature motorhomes and towables from the finest manufacturers and brands including Winnebago Industries, Fleetwood, Thor Motor Coach, Itasca, Coleman, Heartland, Keystone, Forest River, Cross Roads, Monaco, Holiday Rambler, Jayco, Starcraft and Coachmen.
On the accessory side the new location will feature new and innovative products including interactive displays and customer experiences from the top vendors such as Dometic, Honda, Thetford, Goodyear, Winegard, ADCO, Camco, Roadmaster, Husky, Reese, Cequent, Exide, Ultra-Fab, Coleman, Valterra, Dicor, Champion, Rand McNally, Max-Air, BAL, Furrion, Select Comfort, Cummins, Onan, WFCO, Weber, HWH, Presto-Fit, Stromberg-Carlson, Atwood, RDK Products, Magellan, King Controls, Charbroil, Amerigas, Exxon Mobil products and Norcold. Camping World also carries and creates their own private label lines of exclusive products for the RV, outdoor and home markets.
Camping World is the nation’s largest RV and outdoor retailer while Good Sam is the world’s largest RV owners organization.
Camping World Inc., the nation’s largest RV and outdoor retailer, today (Feb. 11) announced that it has acquired property in both Saukville, Wis., (Milwaukee area) and Fort Pierce, Fla., for expansion and future development to meet customer needs for product and service in new markets.
According to a press release, plans are under way to expand the company footprint with two additional locations in high traffic, outdoor-centric markets.
“These are great markets for Camping World/Good Sam to expand to,” said Marcus Lemonis, chairman and CEO of Camping World. “These locations fit nicely into our existing footprint and have a strong base on Campingworld.com customers as well as Good Sam members already in the area. We are excited to move forward in our own growth while serving our customers’ outdoor, RV and camping needs.”
The Camping World of Milwaukee and Camping World of Fort Pierce will feature motorhomes and towables from the finest manufacturers and brands including Winnebago Industries, Fleetwood, Thor Motor Coach, Itasca, Coleman, Heartland, Keystone, Forest River, Cross Roads, Monaco, Holiday Rambler, Jayco, Starcraft and Coachmen.
On the accessory side the new locations will feature new and innovative products including interactive displays and customer experiences from the top vendors such as Dometic, Thetford, Honda, Goodyear, Winegard, ADCO, Camco, Roadmaster, Husky, Resse, Cequent, Exide, Ultra-Fab, Coleman, Valterra, Dicor, Champion, Rand McNally, Max-Air, BAL, Cummins, Onan, Progressive Dynamics, Weber, HWH, Presto-Fit, Stromberg-Carlson, Atwood, Xantrex, Magellan, King Controls, Charbroil, Amerigas, Exxon Mobil products and Norcold.
“These new locations position Camping World for continued growth in both Florida and Wisconsin. Today the company operates a store in Madison, Wisconsin and in nearby Island Lake, Ill. In Florida, the existing 13-store Florida network will be enhanced with the new Fort Pierce location. Our Florida customers continue to embrace our growing presence in the sunny state,” stated Johnny Sirpilla, chief business development officer for Camping World/Good Sam. “We look forward to delivering the highest quality and outstanding service that Camping World customers have come to know and expect across the country.”
Camping World Inc. announced it has acquired additional acreage on the heels of opening its new SuperCenter in Tampa, Fla. The new location, officially named Camping World of Tampa, opened in July 2012 and will expand on an additional 24 acres.
Plans are underway to expand the new I-4 Tampa SuperCenter to be the largest retail facility in the company’s 100-location network. Currently, the location is undergoing expansion to expand and renovate into an 80,000-square-foot facility that will include 40 additional service bays, a new 17,000-square-foot Camping World retail store and a state-of-the-art collision center. The new facility will be completed within seven months with the process starting in mid-February.
“This is an incredibly exciting opportunity for Camping World,” said Marcus Lemonis, chairman and CEO of Camping World. “This location will be the flagship for Camping World Retail not only in Florida but in the entire U.S.”
He added, “This acquisition unquestionably positions Camping World to take the leadership position in the Southeastern United States. We look forward to delivering the highest quality and outstanding service that Camping World customers have come to know and expect across the country”.
The new Camping World facility is supported by 13 Camping World RV dealerships and retail stores already in the state of Florida.
Camping World Inc. announced that it has secured a new substantial increase of its multi-year floorplan credit facility.
According to a press release, Bank of America, N.A., which serves as the administrative agent, led the transaction. JP Morgan, which has partnered with the company since 2003, acted as co-agent.
The facility also includes seven of the nation’s premier lenders: US Bank, SunTrust, Key Bank, M & T Bank, Bank of the West, Ally Bank and Flagstar.
Marcus A. Lemonis, chairman and CEO, stated, “Our company’s explosive same store sales plus additional acquisitions and openings, coupled with another year of an unprecedented level of profitability has earned us a multi-year facility. Our top line outlook for 2013 remains positive and our tight inventory controls and right sized SGA has us well positioned for another solid financial performance.”
Floorplan financing is a line of credit that allows dealers to borrow against their inventory, and then repay that debt as they sell their inventory or borrow against the line of credit again to add new inventory.
Camping World Inc. will be opening its newest retail location, Camping World of Central Missouri, in late spring/early summer.
According to a press release, the outlet will be located on I-70 in the facility that formerly housed Lovealls RV in Columbia. Major renovation will occur at the property to construct a new 21,000-square-foot sales and service center.
“Central Missouri is an ideal setting for the RV enthusiast with close proximity to great camping and wonderful lakes,” said Roger Nuttall, president of Camping World RV Sales. “Our goals as a company are to identify locations where we can best serve the needs of the RV Community and the Columbia area is a great fit.”
“With the success we have experienced in the Springfield, Mo., market, we feel the addition of a Super Center in the middle of the state sets the stage for future Missouri expansion, east to St. Louis and west to Kansas City” added Marcus Lemonis, Camping World chairman and CEO.
Good Sam Enterprises LLC reported improved sales and earnings results for the third quarter, ended Sept. 30.
Revenues of $139.6 million for the third quarter of 2012 increased $11 million, or 8.6%, from the comparable period in 2011, the company reported.
Net income in the quarter was $3.3 million compared to $2 million for the same period in 2011. Good Sam’s financials do not reflect rolling stock sales from the company’s Camping World Inc. unit.
Membership services revenues of $38.7 million for the quarter decreased $0.4 million, or 1.1%, from the comparable period in 2011. This revenue decrease was largely attributable to a $1.7 million decrease in member events revenue due to the timing of annual member rallies and a $1 million decrease in revenue resulting from merging the President’s Club into the Good Sam Club. These were partially offset by a $2 million revenue increase from extended vehicle warranty programs and a $0.3 million increase in emergency road service revenue.
Retail revenues of $95.4 million for the quarter increased by $13.2 million, or 16.1%, from the comparable period in 2011. Aftermarket parts and accessories store merchandise sales increased $10.9 million due to a same store sales increase of $5.4 million coupled with a $6.1 million increase due to the opening of 16 new Camping World stores over the last 21 months.
Media revenues were down 24.1% to $5.5 million for the quarter from the comparable period in 2011. This decrease was primarily attributable to a $0.7 million reduction in consumer show revenue, a $0.6 million reduction resulting from the sale or closure of non-core media businesses in 2011, and a $0.5 million reduction in magazine revenue.
Two stores were closed in the last 21 months in order to consolidate operations within specific geographic areas. Also, mail order and Internet sales increased $3.8 million, installation and service fees decreased $1.2 million, and supplies and other revenue decreased $0.3 million.
To view the entire report click here.