Callaway Golf is providing numbers that indicate a turnaround in progress, reporting increases in sales, operating income and earnings per share for the first half of 2014.
“We are pleased with our results for the second quarter in that we were generally able to achieve our financial guidance while continuing to build brand momentum and improving field inventory levels in key markets such as the U.S. and Europe,” said president and CEO Chip Brewer.
“We achieved these results despite more challenging market conditions worldwide than we had anticipated,” added Brewer.
“We are also pleased with our results for the first half of the year,” he added.
“Our continued brand momentum and the strength of our 2014 product line enabled us to grow sales for the first half in each of our product categories, despite a decline in industry sales due to a late start to the 2014 golf season, high industry-wide retail inventory levels, and an increase in promotional activity,” said Brewer.
“As a result, we gained market share in each of our key markets around the world, positioning us well for the balance of the year,” he said.
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