U.S. economic expansion is getting long in the tooth. The economy has been supported by trillions in stimulus during the Obama administration, and tax cuts under President Trump. I believe the lion’s share of these stimulus efforts has inured to the benefit of very few people. Sales for the recreational vehicle (“RV”) industry has been white-hot over the past few years. However, an economy that appears to be peaking does not bode well for the RV industry or Camping World (CWH).
Camping World is a provider of a comprehensive portfolio of services, protection plans, products, and resources for RV enthusiasts. The company believes it is one of the only providers of this unique set of services. According to the company, about 9 million households in the U.S. own an RV, and of that installed base, Camping world has about 3.7 million RV-related active customers.