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Tough read on golf

  • 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%).
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Comments (1)
  • dankourny
    , contributor
    Comments (27) | Send Message
     
    Like all sports, golf needs big time global stars that transcend the game to inspire recreational interest and participation. Tiger Woods was that but unfortunately he is that no more and there are no other players that spark interest outside of existing golf die-hards. On top of that, golf has the exorbitant cost to play working against it. Point being, I don't think any downtick in golf-related spending is a reflection of broader economic trends/developments.
    31 Jul 2014, 01:53 PM Reply Like
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