Outdoor retail giant permanently closes stores, and it’s working
RideNow Group (NASDAQ: RDNW), formerly RumbleOn, permanently closed five underperforming stores as part of a retail footprint rationalization. In Q2, revenue fell to $296.8 million from $299.9 million, mainly due to store closures, while same-store revenue rose to $291.5 million and adjusted EBITDA increased to $20.5 million. The company reported net income of $6.5 million.


