The president and chief executive of Fortune Brands, owner of Acushnet Company, the golf business that includes Titleist, Cobra and FootJoy, isn’t scared by the economic problems around the world. Bruce Carbonari, speaking at the Bank of America Investment Conference, pointed to international growth in the company’s golf business, especially in Japan, Korea and other Asian markets.
He boasted that the AP1 and AP2 irons by Titleist are the “hottest” clubs available, and touted the brand’s coming 909 series. Carbonari noted that Acushnet is spending a lot of effort on innovative products, including golf footwear, and on expanding in Asia and to a lesser extent Europe.
Acushnet reported earnings of $452.4 for the second quarter that ended June 30, which represents a 4.7 percent drop from the year before. The operating income was down by 23.1 percent to $68.1 million. Carbonari maintains a positive forecast for the long term, however.
