Callaway Golf "bounced backed from the COVID-19 pandemic in the third quarter, posting strong sales and adjusted earnings well ahead of last year as cooped up golfers flocked to courses across the globe," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway President & CEO Chip Brewer said that golf club and ball sales "led the way," while the company's TravisMathew golf shirt and other apparel brands "remained 'resilient' in the wake of the economic downturn." Callaway "will discuss the all-stock, $2 billion Topgolf deal in more detail" during a two-hour conference call tomorrow at 11:00am PT. But it "wasn't all sunny news in the quarter." Sales of Callaway-owned outdoor clothing brand Jack Wolfskin "declined 16 percent -- in part because retail stores in Germany/Central Europe where the brand originated have limited operations because of the pandemic." For Q3, Callaway reported sales "increased nearly" 12% to $476M compared with last year. Adjusted earnings came in at $58M, up 67% from the same quarter last year (SAN DIEGO UNION-TRIBUNE, 11/11).
