Good Sam Enterprises LLC reported second quarter revenues of $146.3 million, a 13.4% increase over the second quarter of 2011, and the highest quarter since 2008, according to a news release.
Retail revenues grew 19.7%, through a 9.6% increase in same store sales along with opening 13 new retail stores over the last 18 months. Membership revenues grew 6.9%, primarily due to contract price increases within the extended vehicle warranty program, an increase in emergency road service revenue of 7.3% due to a 10% growth in contracts in force, and the additional Good Sam Rally this quarter which took place in Louisville, Ky.
Media revenues were down 23.7% for the quarter from the prior year. Two-thirds of the media revenue reduction was attributable to the disposition of negative or low margin non-core businesses sold or closed and the remainder was primarily due to lower advertising revenue. The company sold Woodall’s Campground Management at the end of the quarter.
The report does not include revenue from the company’s Camping World rolling stock stores.
According to the release, “Income from operations for the second quarter of 2012 will be above second quarter 2011 results but will be mitigated in comparison to the increase in revenue primarily attributable to increased marketing expenses directed at creating overall brand awareness and growing the file size of the Good Sam Club branded products and services.”
Today is my personal best for most consecutive days alive.
And if you ever get a chance to go to a grand opening when Marcus is there,you would wonder how they made a profit with all that he gives away. Of course we even bought some stuff after all the freebies we got.
"If momma not happy ....Who cares.I have my TH AND my toys .
That is a decent report in the current economic climate. The full benefit of the changes that Marcus is making will not kick in until later. Dumping poor performing assets is the first step. Rebuilding a brand takes time and money, is risky, but can lead to long term sustainable growth and profits. There are still many entrenched liabilities in his corporate structure that need to be weeded out as evidenced by some of the horror stories we read of how folks were treated when they were trying to spend money with the company. We often see Marcus or one of his folks intervene on this forum in those cases. I would love to see how he handled his assets (people) who were responsible for those bad decisions and handling of customers. As a student of management and human behavior I suspect his entrenched bad players are being culled quickly. A CEO of an organization that size really doesn't have time to surf an RV forum daily to intervene as he has (which we all love) but I think it is part of a strategy to isolate, identify, and dispatch the bad players quickly, with our help. It is near genius and the mark of an organization and CEO who is thinking outside the box. You thought Undercover Boss was good, this is Undercover Boss on steroids!
fla-gypsy wrote: That is a decent report in the current economic climate. The full benefit of the changes that Marcus is making will not kick in until later. Dumping poor performing assets is the first step. Rebuilding a brand takes time and money, is risky, but can lead to long term sustainable growth and profits. There are still many entrenched liabilities in his corporate structure that need to be weeded out as evidenced by some of the horror stories we read of how folks were treated when they were trying to spend money with the company. We often see Marcus or one of his folks intervene on this forum in those cases. I would love to see how he handled his assets (people) who were responsible for those bad decisions and handling of customers. As a student of management and human behavior I suspect his entrenched bad players are being culled quickly. A CEO of an organization that size really doesn't have time to surf an RV forum daily to intervene as he has (which we all love) but I think it is part of a strategy to isolate, identify, and dispatch the bad players quickly, with our help. It is near genius and the mark of an organization and CEO who is thinking outside the box. You thought Undercover Boss was good, this is Undercover Boss on steroids!
Very nice comments. I have had the opportunity to benefit from Marcus's participation and from his comments to me in an email, i suspect he may be around here for a while.
Mr. Lemonis is not just working to encourage you individual members, his team is also working closely with and is instrumental in coordinating ideas with the camps. Some of the changes you see are results originated by club officers by consultation between diverse GS park operators and his team.
Member satisfaction is the goal.
Critical evaluations welcome.
We look forward to being part of that three part mutually beneficial effort.
The Good Sam Plan,
1- You!
2- you again,
3- the rest will fall in place, and we will all benefit.
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....Who cares.I have my TH AND my toys 
.
