Splitting The Fairways: Golfsmith Sees Revenue Jumps After Retooling Effort
Golfsmith CEO Marty Hanaka said that after "several difficult years, the nation's largest specialty golf retailer is now starting to see the results of a major retooling effort," according to Barry Harrell of the AUSTIN AMERICAN-STATESMAN. Golfsmith has “reported jumps in revenue for three consecutive quarters." Hanaka said that the company over the last three years has "moved to remake itself, embracing online sales and making golf apparel a bigger part of its business.” Hanaka: “The No. 1 strategy is really for us to grow the Web aggressively and permeate the digital space. We've had in excess of 20 percent increases on our Web business the last three or four quarters. We've really gone after that in an important way. ... Second thing is, we’re opening stores again. So we're getting a really nice lift from our new stores. We’re at 78 (stores) as we speak.” When asked if Golfsmith has changed the way its retail stores are laid out, Hanaka said, "Absolutely. Our new store models are in the high 20 percent of soft goods -- footwear and apparel -- as a result of redesigning the store. We can’t forget we’re a club company, but to enhance our profits we’ve put (clothing) in the center of the store” (AUSTIN AMERICAN-STATESMAN, 8/16).