Camping World, the nation’s largest recreational vehicle dealer and the new holding company for Gander Outdoors, reported “record” second quarter earnings last week.
CEO Marcus Lemonis said the company’s total revenue increased 20 percent to $1.3 billion over last year as it looks to expand its product offerings beyond RVs.
“We delivered exceptional record-breaking results in the second quarter,” he said in a press release Thursday. “We believe these results clearly demonstrate the power and leverage of our unique operating model, which sells a comprehensive portfolio of products and services across a growing database of consumers being driven by our national network of retail locations that cater to RV, boating and outdoor enthusiasts. While our business model has traditionally been focused on the RV owner, we see a much broader opportunity to leverage our products and services across the larger base of outdoor lifestyle consumers.”
Camping World led the investor group that bought over $390 million worth of assets from a bankrupt Gander Mountain, including store leases, intellectual property and its Overtons boating business in April. Lemonis changed the company’s name to Gander Outdoors in May and unveiled a new logo in June. He also announced more than half of the chain’s 162 locations would close as he finalizes leases with the landlords of the remaining 57 stores — some slated to re-open in November.
Gander Mountain filed for Chapter 11 bankruptcy protections in Minnesota court March 10. A separate liquidation company bought the inventory currently on sale across the country.