All FootJoy articles
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Article
Acushnet pleased with golf’s resilience across the EMEA
Acushnet Holdings, the Titleist, FootJoy and Kjus parent, is impressed with golf’s resilience across the region, particularly in the UK, despite experiencing a 1.4 percent constant-currency decline in FY23 EMEA sales to $314.7 million when up against 20 percent growth in FY22. In Q4, the group’s EMEA sales dropped by ...
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News briefs
Tiger Woods and Nike part ways
Golf star Tiger Woods revealed on social media that his cooperation with Nike Golf, which lasted 27 years, has come to an end. His last 10-year contract extension was signed in 2013, which reportedly paid him around $200 million. Woods wrote, “There will certainly be another chapter,” but gave no ...
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Article
Acushnet’s Q3 operating income up 3.4 percent
Citing strong demand for its products, enthusiasm for the game of golf, and healthy fundamentals across the industry, Acushnet confirmed its full-year revenue outlook and narrowed its full-year expectations for adjusted Ebitda while reporting Q3 results. The Titleist, FootJoy, and Kjus parent continues to see FY revenues in the $2.35 ...
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Article
Acushnet paced by U.S., ball sales in Q2
Acushnet’s operating income increased by 20 percent to $106.5 million from $88.5 million in Q2 as the Titleist, FootJoy, and Kjus parent achieved 4.7 percent revenue growth to $689.4 million from $658.6 million for the period ended June 30. Net income was 12.3 percent at $74.7 million versus $66.5 million ...
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Article
Fila Holdings’ Q1 sales, profits dominated by Acushnet
Struggling with a bloated inventory market in the U.S. and sales channel adjustments in its home South Korea market, Fila Holdings relied on Acushnet Co. to generate the majority of its Q1 revenues and operating profit. Operating income declined by 14.7 percent in constant currency to KRW 160,379 million ...
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Article
Acushnet Holdings posts solid results in seasonally strong quarter
Acushnet Holdings, the parent of the Titleist, FootJoy, and KJUS brands, produced a 15.2 percent increase in Q1 net income to $93.3 million versus $81.0 million in the year-ago period ended March 31. Total revenues, benefitting from new product introductions for another golf season and enhanced supply chain and customization ...
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News briefs
Titleist and Kjus parent Acushnet appoints new EVP/CFO
In an SEC filing dated April 3, 2023, Acushnet Holdings Corp., the parent company of Titleist, Footjoy and Kjus, announced that Sean Sullivan has accepted an offer to become executive vice president and chief financial officer of the company. Sullivan is expected to be appointed to this position by the ...
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Article
Acushnet FY22 sales rise by double digits in all categories
Acushnet Holdings Corp., after exceeding the low-end of its annual revenue and Ebitda range forecasts for FY22, has established consolidated net sales guidance of $2,325 to $2,375 million for FY23, a growth range of 2.0 to 7.9 percent year-over-year, and an adjusted Ebitda range of $345 to $365 million. Senior ...
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News briefs
Footjoy and England Golf agree on multi-year partnership
England Golf has announced an exclusive three-year agreement with Footjoy as its new official apparel, footwear and accessory partner. As part of the deal, all England Golf national squad members will be kitted out with the full range of Footjoy product at international events and championships. The agreement will also ...
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Article
Acushnet raises constant currency growth guidance but sees significant forex headwinds
Acushnet Holdings Corp. raised its full-year guidance for constant-currency sales growth to 9.0 percent to 10.2 percent from a previous range of 6.8 percent to 9.1 percent amid signs of resilience in demand for golf products but warned that it continues to face significant currency headwinds that will constrain reported ...
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Article
Acushnet sees supply chain constraints hamper results
Acushnet Holdings Corp. posted a 4.3 percent rise (+7.6 percent in constant currency) in consolidated first-quarter sales to $606.1 million against $580.9 million, but net profit dipped 4.6 percent to $81.0 million from $85.0 million. The operating margin declined 3.3 percent to 17.4 percent from 20.7 percent in the period ...
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Article
Acushnet suffers setback in Q4, but had a solid year thanks to global golf boom
The Titleist, FootJoy and Kjus parent reported a fourth-quarter operating loss of $21.9 million versus an operating profit of $27.1 million. The reported net loss was $26.4 million for the period ended Dec. 31. Quarterly revenues were essentially flat at $420.6 million versus $420.5 million. Sales in the EMEA rose ...
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News briefs
FootJoy introduces HydroSeries outerwear range
FootJoy has unveiled the HydroSeries range of rain jackets for golf players. The HydroSeries features the DryJoys Waterproof Technology, which is said to offer protection and performance, regardless of the weather condition, during the colder and wetter months. The three jackets in the range – the Hydrotour, the Hydrolite and ...
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News briefs
Footjoy launches a new HyperFlex shoe and glove
Footjoy, a brand of Acushnet, is launching a new iteration of the HyperFlex golf shoe that features the new Wrapid BOA lacing system as well as an innovative OptiFlex outsole, which is said to flex naturally with the wearer’s foot. A thin, semi-rigid TPU flex plate promotes multidirectional flexure and ...
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Article
Acushnet posts lower-than-expected sales and profits
The first-quarter results of Acushnet, the American golf company controlled by Fila Korea, did not meet analysts’ expectations. Sales declined by 5.8 percent to $408.7 million, or by 4.6 percent in constant currencies, due to a decrease in Titleist golf ball sales and FootJoy golf wear, hampered by Covid-19. As ...