With a record number of new golfers teeing off in 2020, recall, the maker of golf balls, clubs, bags, and apparel, is thriving.
recall announced in May net sales of $ 652 million for the first quarter, up 47% year over year.
“Callaway was number one in clubs even before Covid, I’ll call it putters, drivers and irons,” said Jefferies analyst Randy Konik. “They outperformed the industry and were number two behind Titleist.”
“This is a transformative merger. It creates an entity that doesn’t really mimic anything that exists today, merging the golf equipment leader with the golf entertainment leader,” said Chip Brewer, Callaway CEO.
Last year, nearly 37 million players tee off on a golf course or participated in an off-course activity such as a driving range. Almost a third of the US population saw, read, or played golf in 2020.
But with movie theaters, trips, and concerts expected to pick up again, golf club makers like Callaway and its rival will be there Aushnet can keep their momentum?