Shares of Camping World climbed 23.6% in January, according to data from S&P Global Market Intelligence, after the RV retailer announced a broad management shake-up to spur its performance.
Motley Fool reported that the S&P 500 also climbed 8% last month, rebounding from a 9% plunge in December on worries of slowing global economic growth. And Camping World, for its part, plummeted 39% in December, capped by a 10% drop on New Year’s Eve alone when its dealership president, Roger Nuttall, unexpectedly resigned without explanation. So perhaps unsurprisingly, Camping World stock popped 12% on Jan. 2 alone, after the company announced its “executive management realignment” with the goal “to improve performance and process in key areas.”
More specifically, Camping World revealed that Nuttall’s responsibilities will be divided between company Chairman and CEO Marcus Lemonis and four divisional company presidents: TJ Smith, Scott Jensen, Todd Nuttall, and Josh Erickson. Camping World also disclosed several other executive appointments and promotions designed to “streamline the decision making process and improve performance” across the company.
“Our 2019 focus will be to better serve our customers, associates and shareholders while continuing to expand our RV market share with opportunistic RV acquisitions and completing the rollout of RV dealerships into newly opened retail locations,” Lemonis elaborated. “We will also have an intense focus on dramatically reducing our retail inventory levels and aggressively reducing capital expenditures to maximize and drive free cash flow.”
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