US sportswear maker Callaway raises financial outlook

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Callaway Golf Company, a U.S. sportswear and equipment maker, has increased its financial outlook for the third quarter (Q3) and expects revenue to be between $ 850 million and $ 860 million ( previous estimate: $ 775-790 million). In addition, for the full year 2021, sales are expected to reach between $ 3,065 million and $ 3,095 million ($ 3,025 million and $ 3,055 million).

Callaway Golf Company, a U.S. sportswear and equipment maker, has increased its financial outlook for the third quarter (Q3) and expects revenue to be between $ 850 million and $ 860 million ( previous estimate: $ 775-790 million). In addition, for the full year 2021, sales are expected to reach between $ 3,065 million and $ 3,095 million ($ 3,025 million and $ 3,055 million).

“I am very pleased with the way our teams navigate the rapidly changing business environment resulting from COVID-19 and its many variants. ” Chip Brewer, President and CEO of Callaway, said in a statement. “The updated forecast we provide today reflects not only the continued outperformance and strength of our diversified portfolio, but also our operational flexibility, which allows us to adapt and respond to changing business conditions. “

Callaway Golf Company, a U.S. sportswear and equipment maker, has increased its financial outlook for the third quarter (Q3) and expects revenue to be between $ 850 million and $ 860 million ( previous estimate: $ 775-790 million). In addition, for the full year 2021, sales are expected to reach between $ 3,065 million and $ 3,095 million ($ 3,025 million and $ 3,055 million).

Amid the supply chain scuffle, the U.S. golf equipment producer was able to alleviate a significant portion of the supply chain disruption in Vietnam in the third quarter by shifting some of its production capacity to non-Vietnamese suppliers. Based on additional information provided by its suppliers, the company now estimates that the remaining risk in Vietnam’s supply chain has increased from the third quarter to the fourth quarter, the company said in a statement.

Callaway Golf Company, a U.S. sportswear and equipment maker, has increased its financial outlook for the third quarter (Q3) and expects revenue to be between $ 850 million and $ 860 million ( previous estimate: $ 775-790 million). In addition, for the full year 2021, sales are expected to reach between $ 3,065 million and $ 3,095 million ($ 3,025 million and $ 3,055 million).

In the meantime, Callaway’s Topgolf business, particularly its social and drop-in events business, has exceeded expectations in July and August and the company’s TravisMathew and Jack Wolfskin apparel businesses have shown momentum. branding continues, with both brands exceeding expectations in the first two months of Q3. With a larger supply than initially expected, the golf equipment sector is expected to outperform previous forecasts for the remainder of the year, the company added.

Callaway Golf Company, a U.S. sportswear and equipment maker, has increased its financial outlook for the third quarter (Q3) and expects revenue to be between $ 850 million and $ 860 million ( previous estimate: $ 775-790 million). In addition, for the full year 2021, sales are expected to reach between $ 3,065 million and $ 3,095 million ($ 3,025 million and $ 3,055 million).

“While our visibility for the rest of the year remains cloudy, our revised forecast reflects the best information we have on the near-term disruption in our supply chain and the continued dynamics of our business. Looking to 2022 and beyond, we are excited about the strong growth built into our unique business platform and are committed to delivering additional long-term value for our shareholders, ”concluded Brewer.

Fibre2Fashion Information Office (JL)


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