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Old 06-02-2019, 04:46 PM   #1
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Camping World possible bankrupt?

Has anyone seen this before ? Or any other news on this issue?

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Old 06-02-2019, 04:50 PM   #2
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another one on this subject ?
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Old 06-02-2019, 05:41 PM   #3
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Although the mega giant is not well received, I would hold a decision based from competition.
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Old 06-02-2019, 07:35 PM   #4
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I had to go and look at how Marcus is doing with his flagship company...

This does not say it all... but close!
Attached Thumbnails
CWstock_sucks_worse_than_your_girlfriend_does.JPG  
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Old 06-02-2019, 07:47 PM   #5
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This does not say it all... but close!
Here are their first quarter results, what does this say?

Camping World Holdings, Inc. Reports First Quarter 2019

May 08, 2019

LINCOLNSHIRE, IL--(BUSINESS WIRE)-- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World,” “CWH,” “Company,” “we,” “us” or “our”) today reported results for the first quarter ended March 31, 2019.
First quarter highlights and year-over-year financial comparisons:
  • Revenue increased 0.6% to $1.065 billion;
  • Gross profit decreased 1.2% to $298.3 million;
  • Income from operations, net loss and diluted loss per share of Class A common stock were $16.9 million, $26.8 million, and $0.52, respectively;
  • Adjusted EBITDA(1) was $21.4 million; and
  • The number of Active Customers(2) increased 31.4% to 5.1 million and the number of Good Sam Club memberships increased 17.1% to approximately 2.15 million.
https://investor.campingworld.com/pr...9/default.aspx
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Old 06-02-2019, 08:09 PM   #6
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Better fix their service dept quickly, lol.
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Old 06-02-2019, 09:15 PM   #7
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Let's see how they respond to being extorted:

https://www.washingtonpost.com/techn...=.6667f49d6b0d
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Old 06-02-2019, 10:18 PM   #8
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Here are their first quarter results, what does this say?

Camping World Holdings, Inc. Reports First Quarter 2019

May 08, 2019

LINCOLNSHIRE, IL--(BUSINESS WIRE)-- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World,” “CWH,” “Company,” “we,” “us” or “our”) today reported results for the first quarter ended March 31, 2019.
First quarter highlights and year-over-year financial comparisons:
  • Revenue increased 0.6% to $1.065 billion;
  • Gross profit decreased 1.2% to $298.3 million;
  • Income from operations, net loss and diluted loss per share of Class A common stock were $16.9 million, $26.8 million, and $0.52, respectively;
  • Adjusted EBITDA(1) was $21.4 million; and
  • The number of Active Customers(2) increased 31.4% to 5.1 million and the number of Good Sam Club memberships increased 17.1% to approximately 2.15 million.
https://investor.campingworld.com/pr...9/default.aspx
Yea, not a pretty picture... when the adjusted EBITDA is smaller than the decrease in margin... Not the entire margin, just the change in margin.

The reporting on active customers and GS memberships is moot - they give those away at a total expense. They have nothing to indicate a future customer.

CW sends me five separate mailings of the same flyer each month, they all have a different customer number on them... None of them ever make it back to a store.
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Old 06-03-2019, 04:00 PM   #9
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Now you know why Markus LEMONus made it onto a public traded company.. so HE would get his money out
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Old 06-06-2019, 12:19 PM   #10
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And they are getting cheap on their renewals. In the past I have gotten two cards with my GS renewal. Now it's only one, I guess too many people have been giving their other card to a friend.

"Under our new policy, we are only allowed to send one Good Sam Club membership card per household. A spouse and/or other household members are covered under it as long as they are listed on your membership.

Thanks,

Mike "
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Old 06-06-2019, 03:12 PM   #11
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Debt to capital ratio is 151... meaning they have 151 times as much debt as they do assets.... and yes, When it was taken public, all that money went into the pockets of Marcus and his other investors...none stayed in the company. So bad they can't replace inventory... be interesting to see what happens... stock was down again today..
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Old 06-07-2019, 06:49 AM   #12
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This is nothing more than a rumor started by a Vlogger on YouTube with a close affiliation with a local dealer, who just happens to be in direct competition with CW because another former local dealer sold out and became that CW.

Unfortunately people watch this drivel and assume he's being truthful and honest. What he doesn't tell you is that the local dealer who frequents his show slamming CW, is also a sponsor of said show. If this were broadcast TV he would have to disclose that affiliation at the beginning and end of the program. No such laws apply to YouTube which is why one should remain skeptical of anything posted there.
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Old 06-07-2019, 07:44 AM   #13
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Its real obvious who is a sponsor of the YouTube show the RV dealerships sign is in the backdrop. M L and C W just got a ton of free press over his flag size vs the town it fly's in. My gut tells me something is up.. If there's smoke.......
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Old 06-07-2019, 08:06 AM   #14
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Its real obvious who is a sponsor of the YouTube show the RV dealerships sign is in the backdrop. M L and C W just got a ton of free press over his flag size vs the town it fly's in. My gut tells me something is up.. If there's smoke.......
Smoke?? Really? If one looks hard enough for a conspiracy, one will always fine it, real or not.

If you read the financial news you'll see that corporate America is more leveraged than ever. That's due to low interest rates and a comming economy. There's no reason to believe CW is any different.

If a BK is looming for CW, BKs are probably looming for many American companies that are even more heavily leveraged. You can thank the tarriffs for that. Whirpool is a great example.
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Old 06-07-2019, 08:12 AM   #15
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I hate Camping World RV sales and service. If they ended up reorganizing to only sell RV parts and accessories I'd be perfectly fine w/ that. The only thing I buy at Camping World nowadays are parts if I'm in a pinch or RV anti-freeze.
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Old 06-07-2019, 08:37 AM   #16
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I hate Camping World RV sales and service. If they ended up reorganizing to only sell RV parts and accessories I'd be perfectly fine w/ that. The only thing I buy at Camping World nowadays are parts if I'm in a pinch or RV anti-freeze.
No kidding... I would never buy a camper from them either. My experiences with them at the local RV show were enough for me to rule them out. Same goes for their service department. They wanted $1,100 to install a $600 retail slide topper for my old camper, which I declined. $500 for 2 hours of work is insane.

I usually find deals on the clearance rack, but their store prices after *member* discount are still higher than most.
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Old 06-07-2019, 09:28 AM   #17
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Smoke?? Really? If one looks hard enough for a conspiracy, one will always fine it, real or not.

If you read the financial news you'll see that corporate America is more leveraged than ever. That's due to low interest rates and a comming economy. There's no reason to believe CW is any different.

If a BK is looming for CW, BKs are probably looming for many American companies that are even more heavily leveraged. You can thank the tarriffs for that. Whirpool is a great example.
Obviously you have not watched the financial news. In fact to day they were again downgraded. Also a class action suit is either filed or will be filed as to how they handled going public. It is close to it's all time low stock price, and sorry, most companies are not 151 times more in debt than assets. They were downgraded in part, because they can't purchase new stock to replace stock sold. Company is in deep dodo... if they go BK or not only they know at this time...but if the RV market takes anymore of a hit they certainly will have a difficult time to survive. The biggest problems came after their purchase of Gander Mountain and how they have handled its integration.

Tariffs are not the issue...off shoring created the problems killing business's located in the US. If you believe we don't need to rein in China and their stealing of technology then you are misinformed. Just because for decades we have had politicians like Biden who said China is no competition for us (perhaps because his son got a multi billion dollar deal when he was V) Finally we have a president looking out FOR the American worker and willing to take some short term pain for long term rewards.

Getting back to Camping world, they ARE in a world of hurt.. I don't want to see anyone go Bk as the investors (and not Marcus and his buddies who took the cash from the IPO and cashed out) and workers that will be hurt. Hopefully if they need to it will be a chapter 13 and the court will appoint someone who has the investors and workers and customers interest at heart.

Time will tell... but, a competitor on a "talk show" talking about it is not the issue...this has been in the news for a while, they are merely discussing what has already been reported.
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Old 06-07-2019, 10:55 AM   #18
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I do follow the financial news very closely.. Anyone with a functioning brain knows the lack of regulation going back to the 1970’s which effectively incentivized the off-shoring of manufacturing is why we are at the point that we are right now. Tariffs are not going to fix that... Those will only hurt consumers and WILL be a major player in triggering the next recession.

It’s going to take decades to restore American manufacturing to where it was.. However, thanks to tariffs we will be so deep into the next recession before that happens that nobody will care at that point.

As far as CW goes... There are still many companies heavily leveraged.. CW is just another one. If anything takes them down, it’ll be the increasing downturn in the RV market. Investors sue all the time about many things.. Again, nothing to see there.

Do I think that some of those dealings that Mark has been making are above board?? Of course not, but I also inherently distrust Corporate America.
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Old 06-07-2019, 11:42 AM   #19
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I do follow the financial news very closely.. Anyone with a functioning brain knows the lack of regulation going back to the 1970’s which effectively incentivized the off-shoring of manufacturing is why we are at the point that we are right now. Tariffs are not going to fix that... Those will only hurt consumers and WILL be a major player in triggering the next recession.

It’s going to take decades to restore American manufacturing to where it was.. However, thanks to tariffs we will be so deep into the next recession before that happens that nobody will care at that point.

As far as CW goes... There are still many companies heavily leveraged.. CW is just another one. If anything takes them down, it’ll be the increasing downturn in the RV market. Investors sue all the time about many things.. Again, nothing to see there.

Do I think that some of those dealings that Mark has been making are above board?? Of course not, but I also inherently distrust Corporate America.

Tariffs are only a very minor part of the GDP, they alone will not force us into a recession. It's not a lack of regulations that keep companies here, it is lack of repercussions moving offshore that encourages it. If people actually understood that paying a few cents less for a product is actually financing the Chinese Communist party and their military aspirations.

As far as tariffs being paid by consumers yes... to a point that is true.. same as all taxes are paid by consumers which is why I would rather see zero taxes on business, and tax people... so the people would see just how much their corrupt government is taxing them, but hiding it by taxing the companies which only pass those taxes onto the consumer.

Countries are effected by tariffs, in different ways. First much of the tariffs are absorbed by the exporting companies to hold onto market share. Also companies who outsourced to China are now brining jobs back to this country or moving to other low cost countries.. countries that do not steal our intellectual property and allow fair trade both ways.. this is the good tariffs do. For too many decades we have allowed companies to outsource hurting American workers and America itself. Companies have a responsibility to the country also, as do Americans.. sadly too many will sell the country out for a few dollars. Sending 500 billion to China to allow them to built their military, for a few cents savings on a poorly made product seems very short sided to me.

As far as Camping world... yes they are not alone in being undercapitalized. But, since we are in an RV forum it is very relevant to discuss it here. If you look at the downgrades that CW has had recently you will understand the situation they are in. With Gander Mt draining the limited cash (because the IPO $ were taken out of the company) and taking the availability of inventory from Camping World does put the company in peril.

I for one am more than willing to pay $100 more for a refrigerator made in the US by US workers than paying China and allowing them to strengthen their military. People need to vote with their pocketbooks, spending their $ where it benefits them...not another country.
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Old 06-07-2019, 12:12 PM   #20
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I for one am more than willing to pay $100 more for a refrigerator made in the US by US workers than paying China and allowing them to strengthen their military. People need to vote with their pocketbooks, spending their $ where it benefits them...not another country.
I actually did something like that recently. I was looking to buy a corded drill. I was looking at a Milwakee and a DeWalt, there were not directly equal but both would suit my needs. The Milwakee was $50 and the DeWalt was $100. I went with the DeWalt because it was Made in the USA.
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