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 net sales of $ 652 million for the first quarter in May, 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 leading provider of golf equipment with the leading provider of golf entertainment,” said Chip Brewer, CEO of Callaway.
In the past 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 bounce back, golf club makers like Callaway and its rival are becoming Aushnet can keep their momentum?