Callaway Golf has reported record revenue increases across its equipment and apparel brands-Industry news

Chip Brewer

Carlsbad, California, United States: Callaway Golf has reported record revenue increases across its equipment and apparel brands over the last six months as the golf boom continues to resonate across the industry.

The company’s financial results for the second quarter ended June 30, and for the first six months of 2021, saw net revenues driven by higher-than-expected growth across both its equipment and apparel segments.

In addition, Topgolf, which merged with Callaway in March 2021, also contributed to revenue growth, with US$325 million in sales for the period between April and the end of June.

Q2 2021 consolidated net revenue increased US$617 million (+208%) to US$914 million.

Golf equipment and soft goods revenue increased 98% to US$588 million.

Revenues from sales of golf equipment in Q2 increased by 37% to US$138 million compared to the pre-pandemic levels in the second quarter of 2019, driven by the continued surge in golf demand and participation, the launch of the new EPIC line of woods and APEX line of irons and the continued success of its Chrome Soft line of golf balls.

Income from apparel sales rose by 21% compared to 2019 figures, with clothing brand TravisMathew continuing to experience increased demand from golfers.

Callaway suffered a US$168 million loss for Q2 in 2020 due to golf course and retail closures caused by the pandemic