With the number of new golfers set to play in 2020, Callaway manufactures golf balls, clubs, bags and apparel. prosperous
Callaway announced in May first-quarter net income of $652 million, a 47 percent increase from the previous year.
Jefferies analyst Randy Konik said: “Callaway pre-Covid is already the number one timber brand. Those are putters, drivers and irons.” “They outpaced industry growth. And they are second only to Titleist.”
Callaway has also moved out of the fairway. in March The company completes a merger with golf entertainment business Topgolf, which combines a virtual golf driving range with food and cocktails.
Callaway CEO Chip Brewer said: “This is a transformational merger. which creates something that is truly unique to what exists today.
Last year, nearly 37 million players played golf at golf courses or participated in off-course activities such as golf driving ranges. Nearly a third of the US population will watch, read or play golf in 2020.
But with cinemas, travel and concerts expected to recover Can golf club makers like Callaway and competitor Acushnet keep the momentum going?