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About Overton's, Inc.

Camping World customers are happy campers. The firm is one the largest retailers of new and used RVs, camper vans, and camping accessories and maintenance supplies. Its 10,000-plus products, usually unavailable at general merchandise retailers, are promoted via website, catalogs, and 120 retail locations in 36 states. Camping World also provides repair and collision services, such as bodywork and interior appliance fixes, at more than 500 service bays. Other services include RV and auto insurance and refinancing. Founded in 1966 by David Garvin, Camping World went public in 2016.

IPO

Camping World raised a little more than $261 million through its IPO. It plans to use the bulk of the proceeds to pay down debt and reinvest in growing its business.

Operations

Camping World operates two major brands: Good Sam and Camping World. Good Sam offers services and payment plans such as vehicle service contracts, roadside assistance, property insurance, vehicle financing, co-branded credit cards, and customer resources like membership events and shows and trip planning.

Camping World offers new and used vehicles, RV repair and maintenance, aftermarket parts, accessories, vehicle financing, and protection plans. It operates more than 120 physical Camping World locations which offer repair and installation services; of them, around 105 actually sell new and used RVs.

New and used vehicle sales, parts and servicing, and finance and insurance together comprise the company's Retail segment and generate around 95% of sales. The roadside assistance, property and casualty insurance, membership clubs, and credit cards comprise the Consumer Services and Plans segment and generate the remaining 5% of sales.

Geographic Reach

Based in Illinois, Camping World provides products and services for camping enthusiasts throughout North America. Its more than 120 stores are located in 36 states; Florida, California, Texas, and North Carolina are its most significant.

Sales and Marketing

Camping World, through its retail stores, catalog, and internet sales, serves some 3 million RV enthusiasts. Parent Good Sam represents more than 2,000 local RV chapters and works to bring similar geographic regions together for group camping excursions. The company uses a customized CRM system and database analytics to track customers, market, and cross-sell its offerings.

Financial Performance

Camping World's revenue has been growing steadily. In fiscal 2016, total sales increased 7% to $3.5 billion as an uptick in consumer confidence and credit availability pushed up new vehicle sales 21%, partially offset by a 12% fall in used vehicle sales due to lower inventory. The Consumer Services business also grew, with an increase in roadside assistance contracts helping add $10 million to revenue.

Net income grew 6% to $203.2 million due to higher revenue and a shift towards higher-margin new vehicle sales.

Cash from operations doubled to $223.7 million due to higher net income and a decrease in used car inventories.

Strategy

Camping World outlined an acquisition strategy in 2016 whereby it acquires RV dealerships in areas where it already has a strong presence and allows them to continue to trade under the same name. The approach is intended to expand market share, grow Camping World's database, and add additional distribution points for Good Sam. Its first such acquisition was of Ketelsen Campers in Colorado, which it followed up with America Choice, in the Ocala area.

It has also been expanding its online presence through acquisitions: In 2017 it acquired outdoor retailers Gander Mountain and The House, and agreed to acquire Dan's Outfitters.

Mergers and Acquisitions

In 2017 Camping World acquired The House, an online retailer specializing in outdoor gear like bikes, skateboards, snowboards, and other outdoor gear. Earlier in the same year it acquired bankrupt Gander Mountain and its Overton brand. It will shutter most Gander Mountain store locations.

The company also makes regular RV dealership acquisitions, which in 2016-17 included Ketelsen Campers and America Choice.

Overton's, Inc.

111 RED BANKS RD
Greenville, NC 27858-5702
Phone: 1 (252) 355-5783

Stats

Employer Type: Privately Owned
Retail Manager: Lindsay Deans
Distribution Center Manager: Steven Pridgen
Director of Merchandising and Product Development: Michael Worsley
Employees (This Location): 100
Employees (All Locations): 250

Major Office Locations

Greenville, NC

Other Locations

Greenville, NC