CWH Investor Alert: Camping World Holdings, Inc. Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Management Allegedly Inflated SG&A Projections: Levi & Korsinsky

Promise vs. Reality: The Camping World Performance Gap

NEW YORK , April 22, 2026 /PRNewswire/ -- "600 to 700 basis points." That was the SG&A improvement Camping World Holdings, Inc. (NYSE: CWH) promised shareholders in April 2025. By February 2026, the actual result was 190 basis points, barely one-quarter of the original target. Find out if you can recover your investment losses  or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com  or (212) 363-7500.

A securities class action has been filed on behalf of purchasers of CWH stock between April 29, 2025 and February 24, 2026. Following corrective disclosures, the stock suffered a combined decline of $5.96 per share across two separate drops. The lead plaintiff deadline is May 11, 2026.

The Promise

On April 29, 2025, the Company issued guidance projecting SG&A as a percentage of gross profit would improve by 600 to 700 basis points for the full year. On the subsequent earnings call, a senior executive declared: "Let me be crystal clear. That goal isn't moving." The Company simultaneously assured investors it could "surgically manage" inventory using "sophisticated data analytics" to deliver volume growth without sacrificing margins.

The Reality

The lawsuit contends the actual performance fell dramatically short of those projections:

• SG&A Improvement Promised (April 2025): 600-700 basis points
• SG&A Improvement Revised (July 2025): 300-400 basis points
• SG&A Improvement Delivered (February 2026): 190 basis points
• Q4 2025 Net Loss: $(109.1) million, an 83.3% increase over the prior year
• Q4 2025 Adjusted EBITDA: $(26.2) million loss
• Q4 2025 Total Gross Margin Decline: 247 basis points
• Dividend: Paused, effective immediately

Rather than the "fortified balance sheet" shareholders were told about, the Company disclosed it had been forced to implement "strict, corrective inventory management objectives" and accelerate sales of aged used vehicles in December, crushing both new and used vehicle gross margins.

The Gap Between Words and Results

The action claims the Company's inability to deliver on its own projections was not a surprise to insiders. As alleged in the complaint, the Company overstated both consumer demand and its capacity to manage inventory through data-driven processes. When reality caught up, the Company slashed its SG&A target by nearly half in July 2025, and even that reduced target proved unattainable by year-end.

Calculate your potential recovery in the CWH securities action  or call (212) 363-7500.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. When guidance is cut by more than half within months and still not met, it raises serious questions about the basis for the original representations."  -- Joseph E. Levi, Esq.

LEAD PLAINTIFF DEADLINE: May 11, 2026

Join the CWH shareholder recovery effort now  or contact Joseph E. Levi, Esq. at (212) 363-7500.

Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP