Latest news with #Lemonis
Yahoo
17-05-2025
- Sport
- Yahoo
Chris Lemonis fired as Mississippi State baseball coach in 7th season
This story was updated to add new information. Mississippi State baseball coach Chris Lemonis was fired on April 28. He was in his seventh season with the Bulldogs. Assistant coach Justin Parker was named the interim coach. MSU said a national search for Lemonis' replacement is underway. Advertisement Lemonis led the program to its first national championship in 2021, but it has gone downhill since then. The Bulldogs are currently 25-19, including 7-14 in SEC games after losing a series at Auburn. The program hasn't made it to an NCAA tournament Super Regional or hosted a regional since the national championship season. "A change in leadership is what's best for the future of Mississippi State Baseball," MSU athletics director Zac Selmon said in a statement. "We have not consistently met the standard of success that our university, fans and student-athletes expect and deserve. I want to thank Coach Lemonis for his work and the time he gave to our program, including a national championship in 2021. We appreciate his efforts and wish him and his family all the best moving forward. "In a team meeting moments ago, I expressed to our student-athletes the confidence we have in their abilities and the potential they have for the remainder of the season. I encouraged them to compete with pride, resilience and intensity. With the hard work, preparation and talent already within this group, we are committed to putting them in the best position to finish the season competing at the highest level." Lemonis' two contracts with MSU were worth $1.325 million this season and set to expire in June 2026. What went wrong for Chris Lemonis at Mississippi State baseball Lemonis appeared to steer MSU back in the right direction while returning to the NCAA tournament last season and narrowly missing out on hosting a regional. Expectations were to host a regional in 2025, but those are gone. Advertisement There were signs of struggles early in the season. Mississippi State was beating up on its inferior opponents but losing to the better ones. Then, it started 1-9 in SEC play, the worst 10-game start to conference play in program history. The Bulldogs appeared to turn things around in early April when they won consecutive series against South Carolina and Alabama but have stumbled again. MSU is 2-5 in its past seven games with series losses to Florida and Auburn. The tricky part is the way Mississippi State has been losing games. It's not always the same. The bullpen was a strength early in the season but has crumbled in the past two weeks. Pico Kohn is a fantastic starting pitcher, but MSU doesn't have a second shutdown starting pitcher. Mississippi State ranks 13th in the SEC in fielding percentage and last in stolen base defense. Chris Lemonis contract, buyout details Lemonis' contract was slated to expire on June 30, 2026. According to his two contracts obtained by the Clarion Ledger, Lemonis is owed 75% of his remaining salary, which was $1.325 million this season and $1.35 million next season. Lemonis does have a duty to mitigate clause, meaning he must put in an effort to obtain employment. Advertisement Lemonis, like most MSU coaches, has two contracts because state law prohibits public employees from signing contracts longer than for years. Mississippi State, and Ole Miss, circumvent it by having coaches sign contracts with athletic foundations, too. Lemonis was paid $840,000 from his state contract and $485,000 from his Bulldog Club contract for the 2025 season. MORE: Inside Mississippi State pitcher Stone Simmons' 3-year recovery from injury, crazy warmup routine Chris Lemonis record Lemonis had a winning record in all but one season with Mississippi State. The Bulldogs missed the NCAA tournament in 2022 and 2023. Advertisement 2019: 52-15 2020: 12-4 (season canceled because of COVID-19) 2021: 50-18 2022: 26-30 2023: 27-26 2024: 40-23 2025: 25-19 Sam Sklar is the Mississippi State beat reporter for the Clarion Ledger. Email him at ssklar@ and follow him on X @sklarsam_. This article originally appeared on Mississippi Clarion Ledger: Chris Lemonis fired as Mississippi State baseball coach
Yahoo
13-05-2025
- Business
- Yahoo
CWH Q1 Earnings Call: Management Focuses on Cost Actions and Used RV Momentum Amid Revenue Miss
Recreational vehicle (RV) and boat retailer Camping World (NYSE:CWH) fell short of the market's revenue expectations in Q1 CY2025 as sales rose 3.6% year on year to $1.41 billion. Its non-GAAP loss of $0.15 per share was 26.5% above analysts' consensus estimates. Is now the time to buy CWH? Find out in our full research report (it's free). Revenue: $1.41 billion vs analyst estimates of $1.43 billion (3.6% year-on-year growth, 1% miss) Adjusted EPS: -$0.15 vs analyst estimates of -$0.20 (26.5% beat) Adjusted EBITDA: $49.45 million vs analyst estimates of $28.03 million (3.5% margin, 76.4% beat) Operating Margin: 1.5%, up from 0.3% in the same quarter last year Free Cash Flow was -$256 million compared to -$93.91 million in the same quarter last year Locations: 209 at quarter end, down from 215 in the same quarter last year Market Capitalization: $1.03 billion Camping World's Q1 results reflected ongoing shifts in product mix and cost discipline as management aimed to balance volume growth and profitability. CEO Marcus Lemonis cited a 30% increase in used unit sales and emphasized targeted cost reductions, including headcount and dealership consolidations, to deliver improved operating margins. Leadership highlighted that these actions, initiated early in the year, are designed to offset continuing pressure on average selling prices (ASPs) and to capitalize on growth in the used RV segment, which outpaced expectations. Looking forward, Camping World's management expressed confidence in sustaining market share gains and improving cost efficiency, while remaining attentive to wider consumer trends and potential headwinds from tariffs and financing conditions. Lemonis stated, 'We remain confident in the guideposts we've laid out to deliver growth in excess of low double-digits in used units, low single-digits in new, vehicle gross margins within our historical range and SG&A as a percentage of gross profit improving 600 to 700 basis points.' The company remains focused on optimizing its business mix and cost structure to navigate an uncertain consumer environment. Camping World's leadership attributed Q1 performance to a combination of operational adjustments, inventory strategy, and evolving consumer behavior in the recreational vehicle (RV) sector. The following points highlight the key themes and tactical changes underpinning recent results: Used RV sales momentum: Management reported significant gains in used unit sales, supported by improved procurement and inventory velocity, which helped offset softness in new unit ASPs. They described record levels of used inventory procurement in March and April, fueling same-store sales gains. Cost reduction measures: The company took decisive steps to lower selling, general, and administrative (SG&A) expenses by approximately $35 million on an annualized basis, including workforce reductions and location consolidations. These actions aim to preserve margins amid ASP variability and are expected to show greater impact in the second half of the year. Market share expansion: Camping World achieved a combined new and used unit market share over 14% through February, exceeding prior targets. This was achieved through a focus on affordability and product offerings across a broad range of price points, as well as digital marketing initiatives. Minimal tariff impact expected: Management reiterated that direct tariff effects on the RV business are expected to be limited, as most RVs sold are domestically produced. Any increase in new unit prices is anticipated to benefit the used business by raising the value of existing inventory. Financing and affordability trends: Executives noted that credit availability and consumer affordability remain critical drivers, with average credit scores for buyers above 700 and lenders showing stable to slightly improved terms. The company continues to address affordability by offering a wide range of monthly payment options to suit diverse consumer budgets. Camping World's management is prioritizing margin improvement, used vehicle growth, and operational discipline to support future performance, while remaining attentive to evolving industry dynamics and consumer demand. SG&A cost control: Management expects further improvement in operating margins as ongoing cost reduction initiatives—including headcount reductions and dealership consolidation—take full effect throughout the year. Used vehicle growth focus: The company aims for double-digit growth in used unit sales, leveraging procurement capabilities and flexible sourcing to capitalize on increased consumer interest in pre-owned RVs. Industry pricing and tariffs: While direct tariff exposure is limited, anticipated price increases for model year 2026 RVs could impact the mix between new and used sales. Management believes contract manufacturing and product mix flexibility will help mitigate any demand shifts. Joseph Altobello (Raymond James): Asked about the drivers behind ASP softness and the level of OEM (original equipment manufacturer) promotional support. Management emphasized the impact of increased entry-level unit sales and stated new unit margins remained within historical ranges without heavy promotions. Sean Wagner (Citigroup): Inquired about potential tariff impacts and the durability of the balance sheet if macro conditions deteriorate. Executives stated they see limited direct tariff risk and highlighted available liquidity, asset sales, and ongoing deleveraging as key financial safeguards. Alex Perry (Bank of America): Questioned why Camping World's results diverged from softening consumer trends and how the company sustains used sales momentum. Management cited the installed base of RV users and tailored affordability options as differentiators. Michael Swartz (Truist Securities): Asked for details on the cadence and reinvestment of recent cost reduction actions. Management explained that most reductions are completed, with expected full benefit in the coming quarters, and signaled readiness for further cuts if necessary. Scott Stember (ROTH MKM): Sought clarity on the lending environment and customer demand in the parts and service segment. Management reported stable to improving retail lending conditions and increasing customer activity in service and campgrounds, especially as domestic travel remains popular. In the next few quarters, our analysts will be monitoring (1) the sustained momentum in used RV sales and whether new inventory procurement continues at record levels, (2) the effectiveness of SG&A reductions and dealership consolidation on margin improvement, and (3) potential shifts in consumer financing and affordability trends as broader economic conditions evolve. Execution on optimizing the business mix and managing tariff-related pricing changes will also be important markers of strategic progress. Camping World currently trades at a forward P/E ratio of 17.2×. In the wake of earnings, is it a buy or sell? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
28-04-2025
- Sport
- USA Today
Chris Lemonis fired: Contract details for former Mississippi State baseball coach, CWS champion
Chris Lemonis fired: Contract details for former Mississippi State baseball coach, CWS champion Show Caption Hide Caption Mississippi State baseball coach Chris Lemonis talks loss to Florida Watch Mississippi State baseball coach after the April 18 13-3 loss to Florida at Dudy Noble Field. With only about a month until the start of the NCAA tournament, the college baseball world received some surprising news Monday. Mississippi State coach Chris Lemonis, who led the Bulldogs to their first and only national championship in 2021, has been fired, the university announced. Assistant coach Justin Parker will serve as the interim head coach for the remainder of the season. REQUIRED READING: Time is running out on Mississippi State baseball; what else we learned from Auburn series loss Over his seven seasons at Mississippi State, Lemonis went 232-135, though the program's fortunes started to wane after winning the College World Series in 2021. The Bulldogs went 114-37 in Lemonis' first three seasons, but have gone 118-98 since and have made it back to the NCAA tournament only once. This season, they're 25-19 overall and 7-14 in SEC play, putting them in 14th place in the 16-team league. In a statement, Mississippi State athletic director Zac Selmon said the program has 'not consistently met the standard of success that our university, fans and student-athletes expect and deserve.' "In a team meeting moments ago, I expressed to our student-athletes the confidence we have in their abilities and the potential they have for the remainder of the season,' Selmon said in a statement. 'I encouraged them to compete with pride, resilience and intensity. With the hard work, preparation and talent already within this group, we are committed to putting them in the best position to finish the season competing at the highest level. Mississippi State is the premier job in college baseball. The tradition, the facilities, the NIL offerings and the fan base are all second to none. Dudy Noble Field is the best environment in the sport, period. This program is built for success. Our history proves it, and our future demands it.' A national search for Lemonis' successor is underway, the university said. Lemonis was hired at Mississippi State in 2018 after a successful four-year run at Indiana in which he led the Hoosiers to the NCAA tournament three times. Chris Lemonis contract details, buyout Lemonis had an arrangement in which he was working under two contracts — one with the university and one with Bulldog Club, Inc., the latter of which is a non-profit organization that serves as the Mississippi State athletic department's fundraising arm. For the 2025 season, Lemonis was set to make $1.325 million total, with $840,000 coming from the state contract with the university and $485,000 from the Bulldog Club. Both of Lemonis' contracts were set to expire on June 30, 2026. According to the terms of his deals, Lemonis is owed 75% of his remaining salary. If May 1 is used as his firing date, that buyout would come out to just shy of $1.2 million. Lemonis' contract includes a duty to mitigate clause, meaning the university and Bulldog Club can offset buyout money he's set to receive based on income he receives from a new job. REQUIRED READING: Inside Mississippi State pitcher Stone Simmons' 3-year recovery from injury, crazy warmup routine Chris Lemonis record Only one of Lemonis' seven teams at Mississippi State finished with a losing record, though the Bulldogs had fallen off a bit after their College World Series title in 2021. Here's a year-by-year look at his record with Mississippi State:
Yahoo
27-04-2025
- Business
- Yahoo
Camping World location closes amid controversy over flying American flag
( — Nearly one year after a Camping World RV Sales store in Northern California battled officials over the ability to fly a massive American flag, another location across the country abruptly closed its doors amid the same flag issue. In April 2024, Camping World in San Joaquin County was forced to take down a 120-foot American flag that flew over the business's grounds for alleged safety reasons and lack of permission to fly it. Northern California business, county at odds over ability to fly large American flag 'Camping World's flagpole was installed with neither a building permit nor planning approval, therefore, they are in conversation with the code enforcement division,' San Joaquin County said in a statement to FOX40. Although the county cited permit issues, Camping World's CEO, Marcus Lemonis, took issue with removing the flag, regardless of the reason. Northern California deputies intercept semi-truck full of cocaine from Mexican border At the time, Lemonis told FOX40 that if it were a marketing flag on the pole, he might take it down while the business works out the permitting issues with the county, but the American flag stays, no matter what the county says. Fast forward to 2025, and another Camping World across the country, in North Carolina, closed its doors for good amid the same flag battle between the business and local county officials. The closed-down store was one of two locations in the area. There are more than 250 Camping World dealerships throughout the United States. According to ABC 12 in North Carolina, in March, the Greenville City Council voted against an ordinance that would allow Camping World to fly its American Flag. Additionally, Camping World had been fined $8,900 for violating the city's code. The business would also continue to face fines until the flag was removed. On Tuesday, Lemonis told WITN News that he abruptly closed that location last week. 'We think the ordinance is wrong,' Lemonis said in an interview WITN. 'I think it's also wrong (that) council members have been working very actively to disparage my business, and on Friday I had to consolidate modification of two dealerships in town … our business which has been unfortunately impacted uniquely in Greenville NC.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Daily Mail
26-04-2025
- Business
- Daily Mail
Outrage as patriotic CEO is forced to close store over giant American flag
Camping World CEO Marcus Lemonis says he was forced to shut down one of his North Carolina locations following a heated legal dispute centered around a massive American flag. The RV retailer's Greenville store officially closed on April 18, Lemonis confirmed, marking the latest chapter in a long-running standoff with city officials. The conflict, which has already led to the closure of two smaller stores, revolves around a supersized American flag proudly flown outside Camping World locations - and local ordinances that say it's too big. The Greenville City Council voted 4-2 in March to hire outside legal counsel to sue Lemonis and Camping World, according to alleging the towering flag violates local zoning codes. 'We think the ordinance is wrong,' Lemonis said in response. Lemonis added that the now-shuttered store on Greenville Boulevard had been 'uniquely' targeted by city enforcement - which continues to impose fines over the display. 'I think it's also wrong council members have been working very actively to disparage my business, and I had to consolidate modification of two dealerships in town … our business has been unfortunately impacted uniquely in Greenville.' Lemonis told WITN shortly after the vote that he still would not take down the flag. 'Not when they sue, not when I lose, not if they take me to jail, the flag is not coming down,' he affirmed. The flag in question spans a colossal 3,200 square feet - roughly the size of a basketball court - and is hoisted on a 130-foot pole, nearly double the city's height limit for such structures. City officials argue the issue is not about patriotism but code compliance. 'This has never been about removing an American flag or the type of flag,' Greenville Communications Manager Brock Letchworth said. 'It's about bringing the display into compliance with City Code. We look forward to finding a resolution that will result in the continued display of the flag, but in a way that does not violate local laws.' Lemonis acknowledged that his sprawling flag may violate North Carolina state law, but did not specify which statute, the New York Post reported. A native of Beirut, Lebanon, Lemonis emphasized that his decision to keep the flag flying is deeply personal. 'I wasn't born in this country. I emigrated from Beirut, Lebanon. Came here to Miami, Florida and had an opportunity to live the American dream in this country. I've put a lot of sweat and tears into building this business for my people, for the country,' he wrote. 'And it's my love letter to tell everybody how grateful I am this country provided me an opportunity where it didn't have to. To make money, to be a capitalist, to provide jobs in America.' On Thursday, Lemonis added fuel to the fire when he posted a video featuring military veteran customers and employees, expressing pride in the flag and the values it represents. 'I'm a veteran and served three years in the US Army,' technician Michael Monday said. 'I stand over the bay every morning and look at the flag waving. Just makes me proud to work here.' Lemonis captioned the video with the hashtag #NeverComingDown. Unfortunately for the RV retailer, the ongoing feud in Greenville isn't unique. A native of Beirut, Lebanon, Lemonis emphasized that his decision to keep the flag flying is deeply personal Camping World is also facing a similar legal battle in Sevierville, Tennessee, where city officials claim the size and height of another massive flag could pose a distraction to drivers and impact the area's scenic landscape. 'Let us be clear: the City of Sevierville is not, and never will be, against patriotism,' officials wrote. 'Excessively tall structures can create visual distractions for motorists, pose potential safety hazards, and impact the scenic views that are a vital part of what makes Sevierville a destination for residents and visitors alike.' Despite all of this, Lemonis said he will fight to keep the flags flying and to make his message clear. 'Allow the flag to fly. Allow people to enjoy it. Allow kids in this country to understand what an amazing place they live in,' Lemonis said.
