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Camping World Secures Multiyear Credit Facility

November 5, 2013 by · Leave a Comment 

Camping World Inc. announced today (Nov. 4) that it has secured a new $525 million multiyear floorplan credit facility.

According to a press release, Bank of America, N.A., which serves as the administrative agent, led the transaction. JP Morgan, who 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 CIT.

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 2014 remains positive, 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.

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Lemonis Invests in Eco-Me on Next ‘The Profit’

August 22, 2013 by · Leave a Comment 

Marcus Lemonis on "The Profit"

Marcus Lemonis, president and CEO of Camping World Inc. and Good Sam Enterprises LLC, will risk $2 million of his own money in the CNBC show “The Profit” during this week’s episode, and invested a company called Eco-Me that’s in debt, poorly marketed and inefficient.

According to a report by the Mother Nature Network, Lemonis “found a void in the marketplace for all natural cleaning products” and believed in the company’s founder, Robin Levine. “But what needed to change was their broken sales and distribution process, and the supply side of the business—manufacturing and distribution,” Lemonis said. “I changed the packaging and branding, creating an identifiable brand. And I cleaned up the balance sheet, which ultimately changed the way they operate.”

The environmentally friendly aspects of Eco-Me appealed to Lemonis. “Green products work for everyone whether you are truly green or not. Who wants chemicals in their products? These products aren’t as niche as the original packaging made it out to be,” he said, noting that he uses them at home. “Sales are up tremendously since the episode taped, “but I do see small tweaks that could make it even better.”

Not all of his “Profit” deals work out as well. “I don’t invest in every company featured, but I wish all the companies well whether I invested in them or not,” Lemonis said. “My biggest success actually with this series is meeting new people and helping them change their process and business for the better.”

Looking ahead beyond the two remaining “Profit” episodes this season, he adds, “While I am not specifically looking for green companies, if a company meets my criteria then I would definitely consider for Season 2.” He has already invested in natural manufacturers like organic snacks and gluten-free products.

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Camping World to Develop Toledo Area Facility

June 25, 2013 by · Leave a Comment 

Camping World Inc. and Good Sam Enterprises LLC today (June 25) announced plans to open a new facility in Rossford, Ohio, slated for the spring of 2014.

According to a press release, the new supercenter will be located in the Toledo area near the intersection of Interstate 75 and the Ohio Turnpike and is near numerous rapidly growing businesses, including a Bass Pro Shop. Development plans call for a 10- to 12-acre facility including an RV dealership, service bays, a Camping World retail store and a state-of-the-art collision center. The new store will join over 100 other national locations along with two other supercenters near Rossford in Akron, Ohio, and Belleville, Mich.

Camping World said it was approached by several developers and ended up choosing the Toledo area because of the national and state parks, fishing, camping and other recreational points of interest that are key for the RV lifestyle. With expected support of city officials, Camping World is in final stages of planning the new location while discussing generating tax revenue and new employment opportunities to the community. Early discussions have shown strong support and interest from multiple manufacturers, suppliers and vendors looking for additional expansion in to this growing market.

“Our growth plans across the country are consistent with Camping World’s philosophy of commitment to enhance our customers’ total RV experience,” said Marcus Lemonis, chairman and CEO of Camping World. “By increasing the growth of both the retail and dealership locations in our network, Camping World is getting closer to achieving our goal of truly being the one-stop shopping location for the RV and outdoor enthusiast across the country and to continue to bring the best RV makes and models to the RV community.”

The company expects to open the new Supercenter in the Toledo area in early 2014 with plans to hire about 25 to 30 new employees to reinforce their sales, service and support needs for the dealership and accessory store.

“Camping World is dedicated to providing its customers with the best experience and value in the industry. Our goal is to expand our business into new areas, and we are very excited about serving the greater Toledo community,” said Lemonis. “Camping World has a strong history of unparalleled value, selection and personal customer service and we look forward to serving the Toledo area in the near future.”

All details, including launch timing, specific address, RV manufacturers and product lines will be announced at a later date.

 

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Camping World Inc. Is Acquiring Marty’s US RV

June 11, 2013 by · Leave a Comment 

Camping World Inc. and Good Sam Enterprises LLC today (June 11) announced that it has signed an agreement to acquire Marty’s US RV, an existing RV dealership in Berkley, Mass., in the next 30 to 45 days. According to a press release, plans are for the location to undergo a major expansion to renovate into a larger facility including additional service bays, a new Camping World retail store and a state-of-the-art collision center. Camping World currently has nearby New England area supercenters in Chichester and Conway, N.H.

“We are pleased to begin the acquisition of Marty’s US RV and expand our market share throughout Massachusetts as well as the greater New England area,” said Marcus Lemonis, chairman and CEO of Camping World and Good Sam. “For over 22 years Marty Hanoud and family have proudly served the Boston area with top notch service and the best in products. Our decision to branch into the Boston market was fully realized only because of the quality reputation that Marty’s US RV has in their community. We expect the New England market to allow us to broaden our customer reach, build upon our market leadership position in recreational sales, and make Camping World the leading retailer in the growing outdoor market.”

The supercenter will be officially named Camping World of Boston and represents the first full-service location in Massachusetts for Camping World.

Lemonis noted, “I always look for three things: People, Process and Product in relation to enhancing our Camping World and Good Sam presence. The Hanoud Family clearly meets that test. Our goal is to add more quality manufacturers and brands, increase our presence in the market, and grow the work force. The Boston area is perfect for outdoor enthusiasts with camping areas like the Boston Harbor Islands, Cape Cod and the Myles Standish State Forest to hike, camp and just enjoy life. We are excited to begin serving this market.“

The new supercenter in the Boston market will add to Camping World’s future growth plans and the company expects to soon announce several additional markets of expansion throughout the country.

Camping World of Boston will also be adding positions for seasoned and professional RV sales associates, technicians and retail support as the facility expands in addition to the current staff at the Marty’s US RV location.

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CNBC’s ‘The Profit’ to Feature Marcus Lemonis

June 10, 2013 by · 1 Comment 

Promotion for "The Profit" featuring Marcus Lemonis

CNBC Prime has announced that “The Profit,” featuring Marcus Lemonis, chairman and CEO of Camping World Inc. and Good Sam Enterprises LLC, will join the network’s primetime reality lineup on Tuesday nights at 9 p.m. (ET/PT) beginning July 23.

“If you have a business that’s in trouble and think your management team can survive America’s turnaround king,” the CNBC Prime release states, “then you’re ready for ‘The Profit.’

“When Marcus Lemonis isn’t running his multi-billion dollar company, Camping World Inc., he goes on the hunt for struggling businesses that are desperate for cash and ripe for a deal,” the news network reports. “In the past 10 years, he’s successfully turned around over 100 companies. Now he’s bringing those skills to CNBC and doing something no one has ever done on TV before … he’s putting over $2 million of his own money on the line.

“In each episode, Lemonis makes an offer that’s impossible to refuse: his cash for a piece of the business and a percentage of the profits. And once inside these companies, he’ll do almost anything to save the business and make himself a profit; even if it means firing the president, promoting the secretary or doing the work himself.”

To learn more about “The Profit” and meet the man who calls the shots, visit www.cnbc.com/the-profit.

 

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Camping World to Partner With Travel Channel

May 22, 2013 by · 1 Comment 

Outdoor retailer Camping World Inc. today (May 22) announced the company will be a presenting sponsor of Travel Channel’s new original series “Rock My RV with Bret Michaels.”  The new original series is set to premiere on May 26 at 9 p.m. ET/PT.

According to a press release, Camping World will be integrated into four episodes and is also the exclusive sponsor of the “Rock My RV with Bret Michaels: Epic RV Giveaway Contest.”  The grand prize in the contest is an RV custom built and designed by Michaels and his team.  Camping World provided the grand prize RV for the contest, which runs June 3-15.

“We are excited to be working with the Travel Channel to bring additional exposure to the RV lifestyle,” said Marcus Lemonis, chairman and CEO of Camping World. “This new and unique series provides an opportunity to reach out to a new audience of customers who we know are active travelers today and showcase some of our products and services.”

The integrated episodes will feature the Camping World retail accessory store and collision center along with installations of various products from top vendors such as Dometic Corp., Select Comfort, Winegard Co. and Atwood Mobile Products LLC.

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Good Sam Enjoys Sales, Income Jump in 2012

March 18, 2013 by · Leave a Comment 

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.

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Camping World’s Expanding Harrisburg Outlet

March 7, 2013 by · Leave a Comment 

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.

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Camping World to Open Fresno Outlet in 2014

March 4, 2013 by · Leave a Comment 

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.

 

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CWI Opens Former Reichart’s Camping Outlet

March 1, 2013 by · Leave a Comment 

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.”

 

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