Tough read on golf

|By:, SA News Editor

Sales related to the golf industry have struggled to keep up with other sporting categories as the sport maintains an older-age profile. By some estimates, less than 10% of all golfers are under 30 due in part to the time and cost considerations.

Earlier today, Adidas (OTCQX:ADDYY) lowered its full-year profit forecast citing weakness in the golf business as a factor. Sales growth for golf equipment and apparel has also slowed for Nike (NKE -2.6%).

Shares of Callaway Golf (ELY -2.4%) have fallen 9% YTD, while the struggling Golf Galaxy business has dragged down results at Dick's Sporting Goods (DKS -3.2%).