Acushnet Holds Bullish Outlook For 2017
The Acushnet Company, owner of Titleist and FootJoy, has reported year-to-date sales of US$861.6 million, down 4.6% year over year, or down 3.8% in constant currency. It’s second quarter sales of US$428.0 million is down 7.6% year over year.
Titleist golf balls saw a 6.6% decrease in net sales as a result of a sales volume decline in both the ProV1 franchise and the performance models, the latter of which are in their second year of their two-year product life cycle in the second quarter. Golf clubs declined 21.1% due to lower sales volumes, primarily in the iron series, Scotty Cameron Select putters and Vokey Design wedges, all of which are in the second year of their two-year product life cycle.
FootJoy had a 5.8% decrease in net sales due to a sales volume decline in the footwear and glove categories. Titleist golf gear increased 5.6% in net sales due to higher average selling prices across all categories of the gear business, according to the company.
Looking at the full year, David Maher, Acushnet COO, said, “We are excited about our upcoming new product introductions and we are looking forward to building upon our brand momentum in the back half of the year.” Acushnet is calling for consolidated net sales in the range of US$1,545 to US$1,565 million in 2017.