Skip to Main Content

About Overton's, Inc.

Camping World Holdings is one the world's largest retailers of new and used RVs, camper vans, and camping accessories and maintenance supplies. It also offers outdoor lifestyle and sports-related merchandise. The company's 10,000-plus products, usually unavailable at general merchandise retailers, are promoted via websites, catalogs, and about 230 retail locations in some three dozen US states. Camping World also provides repair and collision services, such as bodywork and interior appliance fixes, and offers service and protection plans and RV membership clubs. The company also provides RV and auto insurance and refinancing.

Operations

Camping World operates through three primary segments: Dealership, Retail, and Consumer Services and Plans. 

The Dealership segment includes new and used vehicle sales, RV parts and service, and financing and insurance. This segment generates about 80% of total revenue, including more than 50% just from new vehicle sales. Camping World sells more than 100,000 new and used vehicles annually. RV manufacturer Thor Industries supplies about three-fourths of the company's new vehicle inventory.

Another 15% of revenue is provided by the Retail segment, which offers RV accessories and supplies, aftermarket parts, and other sports/outdoor merchandise (hunting, fishing, biking, skiing, and other equipment). The Dealership and Retail segments generally operate from shared locations under the Camping World, Gander Outdoors, and Gander RV brands.

Under the Good Sam name, the company provides a host of Consumer Services and Plans (roadside assistance, membership clubs, travel protection, and extended service warranties) that account for the last 5% of revenue.

Geographic Reach

Camping World provides products and services for camping enthusiasts throughout North America. It has about 230 stores in some 35 US states; Florida, Illinois, Texas, and North Carolina are its most significant markets, accounting for more than a fourth of locations.

In addition to its headquarters in Illinois, the company has major offices in California, Colorado, Kentucky, Minnesota, and North Carolina. Its retail distribution centers are in California, Illinois, Indiana, Kentucky, Minnesota, North Carolina, Tennessee, and Texas.

Sales and Marketing

Camping World serves more than 5 million active customers. It markets its products and services through retail stores and in-store promotions, websites, catalogs, direct mail, and traditional advertising, as well as promotional events such as RV and boat shows. 

Some 80% of new paid enrollments in service plans, memberships, and other Good Sam offerings are generated at the point of sale.

 

Financial Performance

Amid acquisitions and strong organic growth, Camping World has seen its revenue jump 82% since 2014. Net income, however, has fallen significantly over that time, from nearly $125 million to $10 million.

In 2018 the company reported record revenue of $4.8 billion, up 12% from the prior year. Camping World saw growth across all areas, with the Retail segment having the most impact as the company added about 55 stand-alone retail locations in 2018 due to the acquisition of Gander Outdoors. 

Net income fell to $10.4 million that year compared to $29.9 million in 2017 as a result of growing expenses and a goodwill impairment charge of $40 million related to the Retail segment.

Cash at the end of 2018 was $138.6 million, a decrease of $85.6 million from the prior year. Cash from operations contributed $136.3 million to the coffers, while investing activities used $292.7 million, mainly for capital expenditures, real property, and acquisitions. Financing activities added $70.8 million as a result of proceeds from long-term debt.

Strategy

Camping World has three key priorities -- expanding its customer base, growing its Good Sam Club membership levels, and increasing the total number of transactions. All three numbers hit all-time highs in 2018 (more than 5 million customers, more than 2 million Good Sam Club members, nearly 7.5 million total transactions) and have been boosted by new store openings and acquisitions.

The company, however, is dealing with an industry-wide slowing of new RV sales growth after several years of strong sales. It is lowering inventory levels, consolidating warehouses, closing underperforming locations, and reducing headcount, among other actions. Camping World also relies on its offerings for current RV owners (service repair, aftermarket parts) to remain steady even as new sales fall.

Mergers and Acquisitions

In 2017 Camping World boosted its retail operations with the acquisition of bankrupt Gander Mountain and its Overton brand. The deal included some 160 stores, which were closed and then a smaller number of them reopened.

From late 2017 through mid-2018 the company purchased several specialty retailers that added about two dozen store locations to Camping World's network. The acquisitions included Active Sports and TheHouse.com, a physical and online retailer of bikes, skateboards, and other outdoor gear; Uncle Dan's, a retailer of apparel and camping supplies; and Rock Creek Outfitters, a retailer of gear for kayaking, rock climbing, and other outdoor activities.

Company Background

Camping World was founded in 1966 by David Garvin. It went public in late 2016.

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
Director of Merchandising and Product Development: Michael Worsley
Manager: Matt Wright
Employees (This Location): 100
Employees (All Locations): 250

Major Office Locations

Greenville, NC

Other Locations

Greenville, NC