Global Edition

Callaway Golf announces record sales for Q3

12.51pm 11th November 2020 - Corporate

Callaway Golf has announced record sales and earnings for the quarter ended September 30, as the worldwide golf boom shows no signs of slowing.

The company has reported net sales of $476 million for the three months from July, August and September  – an 12% increase on the same period in 2019 – while net income of $52 million represents a 69% increase on figures for last year’s third quarter. 

Third quarter 2020 diluted earnings per share of $0.54 represents a 69% increase compared to $0.32 in 2019.

Commenting on the impressive results, Callaway Golf CEO Chip Brewer said: “The world is embracing golf in a way that has led to a record quarter for the industry and our company. Our golf business is now experiencing unprecedented demand and our soft goods business is recovering significantly more quickly than we expected; our third quarter results reflect this momentum. 

“Our recent investments into our e-commerce capabilities have proven particularly valuable, showing strong growth across all of our business segments this year including 108% growth in e-commerce for our apparel brands in Q3.”

Brewer added: “Although we expect some level of continued volatility due to the ongoing pandemic, Q3’s trends have thus far continued into Q4 and, perhaps more importantly, we also now appreciate even more that all of our businesses are likely to be favoured in both the realities of the current world and likely consumer trends post-pandemic. 

“All of our business segments, as well as the Topgolf business, support an outdoor, active and healthy way of life that is compatible with a world of social distancing. These are key factors that will likely be important for consumers over the next several months and will also likely continue post-pandemic.”

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