The law firm of Kirby McInerney LLP announces that it has filed a class action, Siverd v. Camping World Holdings, Inc. et al., No. 26 Civ. 2710, in the United States District Court for the Northern District of Illinois on behalf of investors who acquired Camping World Holdings, Inc. (“Camping World” or the “Company”) (NYSE: CWH) securities during the period of April 29, 2025 through February 24, 2026, inclusive (“the Class Period”).

If you suffered a loss on your Camping World investments, you have until May 11, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:

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What Is This Lawsuit About? The lawsuit alleges that (i) the Company overstated its ability to “surgically manage [its] inventory” to optimize profit using “data analytics;” (ii) the Company overstated the retail demand of consumers it was experiencing and/or reasonably expected; (iii) as a result, the Company would require “strict, corrective inventory management objectives,” negatively impacting gross profit and margins; and (iv) the Company’s inadequate systems and processes prevented it from ensuring reasonably accurate disclosures and/or guidance, including about the health of its balance sheet and/or the ability to manage SG&A expenses.

On October 28, 2025, after the market closed, Camping World released its third quarter 2025 financial results, reporting, among other things, that “new vehicle revenue was $766.8 million for the third quarter, a decrease of $58.1 million, or 7.0%,” “average selling price of new vehicles sold decreased 8.6%,” and “new vehicle gross margin was 12.7%, a decrease of 81 basis points, driven primarily by the 8.6% decrease in the average selling price per new vehicle sold.” The Company further disclosed that “total gross margin was 28.6%, a slight decrease of 27 basis points,” and “the slight gross margin decrease was primarily from the reduced average selling price per new vehicle sold.” The Company further disclosed it saw 2026 as a “consecutive year of Adjusted EBITDA growth, starting in the low $300 million range.” Nonetheless, the Company purported that “this judicious conservatism, combined with our fortified balance sheet and improving leverage, has set the stage for our return to measured and accretive M&A activity across the business.” On this news, the price of Camping World shares declined by $4.17 per share, or approximately 24.8%, from $16.82 per share on October 28, 2025 to close at $12.65 on October 29, 2025.

On February 24, 2026 Camping World released its fourth quarter 2025 results, reporting, among other things, that it had “implemented strict, corrective inventory management objectives to structurally improve [its] turnover rates” creating gross margin headwinds into 2026. The Company reported financial results, including that “net loss was $(109.1) million for the fourth quarter of 2025, an increased loss of $49.6 million, or 83.3%,” “adjusted EBITDA was $(26.2) million, an increased loss of $23.7 million,” “gross profit was $338.2 million, a decrease of $38.7 million, or 10.3%, and total gross margin was 28.8%, a decrease of 247 basis points.” The Company also reported “new vehicle gross margin was 12.3%, a decrease of 291 basis points,” and “used vehicle gross margin was 16.0%, a decrease of 277 basis points,” both due to an increase in the average cost per vehicle sold and a decrease in average selling price, “driven in part by accelerated sales of aged used vehicles in December.” The Company additionally reported SG&A as a percentage of gross profit of 85%, a 190 basis point year over year improvement, falling far short of the Company’s prior guidance for a 300 to 400 basis points improvement.

Finally, the Company announced that it would be pausing its quarterly cash dividend, effective immediately, “following consideration of forecasted tax distributions, the reduced availability of excess tax distributions to fund dividend payments driven partly by the impact of recent tax law changes, and in consideration of the Company’s focus on reducing net debt leverage.” On this news, Camping World stock price declined by $1.79 per share, or approximately 16.5%, from $10.85 on February 24, 2026 to close at $9.06 per share on February 25, 2026.

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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

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What Should I Do? If you purchased or otherwise acquired Camping World securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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