A record number of new golfers tee off in 2020 Callaway, Golf ball, club, bag and apparel manufacturers are thriving.
Callaway First-quarter net sales, announced in May, were $ 652 million, an increase of 47% over the previous year.
“Callaway’s Precovid was already the number one stick brand, calling it putters, drivers and irons,” said Jeffreys analyst Randy Conick. “They outperformed the industry and were second only to Titleist.”
Callaway CEO Chip Brewer said: “This is an innovative merger. A golf equipment leader merges with a golf entertainment leader to create an entity that doesn’t really duplicate what currently exists.
Last year, about 37 million players teeed off at golf courses and participated in off-course activities such as driving ranges. Almost one-third of the US population watched, read, and played golf in 2020.
However, as cinemas, travel and concerts are expected to rebound, golf club makers like Callaway and its rivals Acushnet Can you maintain their momentum?
Why golf club maker Callaway leaves the fairway
Source link Why golf club maker Callaway leaves the fairway