Acushnet, the parent company of the Cobra, FootJoy, Pinnacle and Titleist brands, which is based in Massachusetts, has announced big gains during the first quarter of the year in both sales and operating income. Total revenue was $338.9 million, a gain of 20% over the first three months of 2003 while operating income increased 56% to $51 million. The results represented the best first quarter for the company in terms of sales and operating income,
In the USA there are signs that the market is recovering. An NGF / Golf 20/20 report shows that rounds played for the first quarter were up 5.3% and strong equipment retails sales for January and February have been recorded by Golf Datatech.
In Europe too, Acushnet brands have enjoyed good performances in the first quarter. Marketing Director John Peal describes the launch of Cobra’s new SZ drivers and fairway woods as just one of several very successful new product introductions.
Sales of all Titleist branded products are 31% up against plan while FootJoy is 18.5% up against plan and 27% up on 2003. “The Cobra plan for this year is very aggressive indeed,” said John Peal, “Despite such an ambitious plan, we are still well ahead, and showing sales more than double the same time last year.”
“But it’s not all down to new product launches,” he continues. “The performance and quality of our products and services are essential drivers of our growth. Golf ball sales, where we maintained the same offering as 2003, are at an all time high.”