Citing increased economic and political instability in Asia and Europe, the tentative nature of consumer spending in the U.S. and unfavorable weather conditions in many markets, Callaway Golf says the recovery of the golf market will be slower than it had expected. The management says its results will show less improvement than expected for the full 2010 financial year, but remains confident about a return to profitability and its long-term prospects. The company’s apparel and accessories businesses are still growing, its international expansion is ahead of schedule, inventories are reasonable at wholesale and retail, and the inclusion of golf into the Olympic Games should give a boost to the category.