Even before the COVID-19 pandemic began, the National Park Service had been noting a steady increase in the number of camping trips Americans were taking every year. But the pandemic created a surge in interest in camping and other outdoor activities. Younger generations accounted for much of this growth, and tens of billions of new dollars will be spent on camping equipment annually in the coming years as these young enthusiasts get outfitted for their excursions.
According to a study by Dyrt, 84.8 million Americans went camping in 2023, 5.5 million of whom were first-time campers. This brings the total number of new campers from 2021 to 2023 to more than 20 million. According to a 2023 report from Kampgrounds of America, almost 7 in 10 of U.S. households now identify as campers — up from 58% in 2014.
This could be a lucrative niche for investors within the travel and related retail industries. To that end, here are some of the top stocks to consider when investing in the great outdoors.
Top camping stocks
Investing in top camping stocks in 2025
The primary way to bet on the camping industry is via retailers and manufacturers that sell camping equipment. Mega-retailers such as Walmart (WMT 0.6%) and Amazon (AMZN -0.23%) stake claims to large parts of this consumer spending category. There is the highly correlated RV industry as well, with Camping World Holdings (CWH -2.19%) a prominent player as both a recreational vehicle and camping equipment seller.
But for a more focused play on camping, here are five stocks to give a close look at for 2025 and beyond.
| Company | Market Cap | Description |
|---|---|---|
| Dick's Sporting Goods (NYSE:DKS) | $18.13 billion | A top omnichannel retailer for sports and other outdoor equipment. |
| Deckers Outdoor (NYSE:DECK) | $31.74 billion | A holding company that owns shoe brands Ugg, Hoka, Teva, and Sanuk. |
| Yeti Holdings (NYSE:YETI) | $3.60 billion | The bag, cooler, and drinkware maker for outdoors enthusiasts. |
| Columbia Sportswear (NASDAQ:COLM) | $5.16 billion | Outerwear, apparel, accessories, and equipment for adventurous types. |
| Johnson Outdoors (NASDAQ:JOUT) | $390.60 million | A diversified outdoor equipment and vehicle manufacturer. |
1. Dick's Sporting Goods
1. Dick's Sporting Goods
Few retailers got as big a boost as Dick's Sporting Goods from a resurgence in outdoor travel and experiences the last few years.
A mid-sized retailer working hard at updating its operations for the digital age leading up to 2020, the company's work at reaching consumers via its stores and website paid off big when the pandemic struck and consumers began updating their gear for outdoor adventures. Dick's went from a struggling stock to a high flyer, returning almost 200% from a combination of share price appreciation and its dividend payment in 2020 and 2021.
Looking back over the trailing three-year period as of the time of this article, the stock has delivered a total return of more than 130% thanks to share price appreciation and dividend growth. Dick's has a wide lineup of apparel and equipment for all sorts of outdoor activities, and it's increasing its digital sales at a steady pace as consumers make more online purchases.
The company's extensive store base gives it a leg up in this department, doubling as a fulfillment center (including same-day order store pickup) and a place where customers can make returns. Dick's reported net sales of $9.6 billion in the first nine months of 2024, along with net income of $865 million thanks to its robust omnichannel strategy. Those two figures represented respective increases of 4.8% and 15% compared to the first nine months of 2023.
With millions of new athletes, Dick's thinks its robust consumer engagement and diversified business model can generate steady sales growth in the years ahead. That's a ride long-term investors may want to join in on.
Same-Store Sales
2. Deckers Outdoor
2. Deckers Outdoor
You may not want to go hiking in a pair of Ugg boots, but for those who enjoy "glamping" (a word that combines "glamorous" and "camping"), Ugg might be more of a fashion statement than an outdoor footwear staple. For hitting the trails and enduring long excursions, there's the running and hiking shoe company Hoka. Both brands are under the purview of parent organization Deckers Outdoor.
Like other apparel and accessory companies, Deckers has been a prime beneficiary of the recent uptick in outdoor activity. Throw in its sandals and footwear brands Teva and Sanuk, and Deckers has a shoe for nearly every trip and adventure imaginable.
In the first half of the company's fiscal 2025, Deckers reported net sales of $2.1 billion, a 21% increase from the same period in its fiscal 2024. The company also reported net income of $358 million in the six-month period, up a notable 48% from one year ago. Deckers looks to be building a small shoe empire worth keeping tabs on.
3. Yeti Holdings
3. Yeti Holdings
Yeti was an impressive growth story after its successful IPO a few years ago. The stock was on a tear and doubled in value from its public debut in late 2018 through the end of 2019. While the pandemic caused a brief hiccup for the company, sales soared higher after campers began outfitting themselves with new bags, coolers, and travel drinkware.
Part of Yeti's strength isn't just its products; it's also the business model. More than half of revenue comes from direct-to-consumer channels such as orders placed on its own website and shipped to the customer from Yeti. It's an efficient manufacturing-retailing model that gives Yeti an above-average operating profit margin (at 17% on an adjusted basis) compared to a traditional retailing model, which tends to be in the single-digit percentage operating profit range.
In the third quarter of 2024, Yeti's net sales rose 10% year over year to $478.4 million. Broken down by key sales segments, Coolers & Equipment net sales increased 12%, Drinkware net sales increased 9%, Wholesale net sales increased 14%, and Direct-to-Consumer net sales increased 8%. Broken down by region, international net sales increased 30%, and U.S. net sales increased 7%.
More than just a top outdoor equipment maker, Yeti stock could be a solid investment in a long-term consumer brand growth story.
4. Columbia Sportswear
4. Columbia Sportswear
The apparel industry was deeply affected by COVID-19 in 2020. Stuck at home for part of the year, new clothes ranked low on many household shopping lists, and it took time for consumers to update their wardrobes again. Outerwear, outdoor apparel, and equipment company Columbia Sportswear wasn't exempted from the pain.
Columbia (along with its subsidiary brands Mountain Hardwear, Sorel, and prAna) provides comfortable gear tailored for the adventurous spirit, an in-demand category of threads for campers and vacationers. For investors following its long-term growth and income story, the company made a solid comeback in 2021 and 2022.
The last few years have been a more turbulent period for the business, particularly as consumer spending patterns in North America have remained in flux. In the first nine months of 2024, net sales decreased 5% to $931.8 million, while the company's gross margin expanded 150 basis points to 50.2% of net sales. Operating income was down 16% from the year-ago period, but totaled $112.5 million. The company closed the period with $373.9 million of cash and investments, and no borrowings.
Although growth has been mixed in recent financial reports, Columbia Sportswear stock recently reached a new 12-month high, a sign that some investors may be optimistic about the company's growth trajectory. The company also pays a modest dividend, yielding about 1.4% at the time of this writing and comprising an annual dividend of $1.20 per share. Investors putting cash to work for the long-term may want to take a second look.
5. Johnson Outdoors
5. Johnson Outdoors
Camping and outdoor activities are all about the experience, and quality experiences are a top theme in travel for consumers. The right equipment can be the key to an enjoyable experience. Enter Johnson Outdoors. The company operates in four segments — fishing, diving, camping, and watercraft recreation — and is responsible for brands such as Eureka!, Jetboil, Scubapro, Humminbird, and Ocean Kayak.
This is a small-cap stock, so its share price can exhibit extreme volatility. Johnson Outdoors has also experienced mixed growth in recent years due to the competitiveness of the arena in which it operates and market challenges amid rapidly evolving consumer spending patterns.
In fiscal 2024, total company revenue fell 11% to $592.8 million, and it reported a net loss for the 12-month period. On a more positive note, the company reported cash and investments of $162 million at the end of the fiscal year, a $9.5 million increase from the prior year, with no debt on its balance sheet.
For more risk-tolerant investors, this small-growth company could be one to consider within the camping stock universe.
Related investing topics
Camping is a travel favorite
While consumer trends are always shifting, a new generation of travelers seems more interested in exploring the outdoors than any previous group. Camping is a favorite vacation activity, and investing in equipment manufacturing and retail could pay off in the next few years.
However, the stocks on this list operate in a dynamic industry that is vulnerable to consumer spending patterns, so bear in mind that prices can be highly volatile. Remember to invest in companies you believe have an enduring advantage in the camping and outdoors industry, and stay invested for the long haul.
