Callaway Golf has taken full ownership of a joint venture in Japan that sells Callaway brand shirts, shoes and headgear – furthering the Carlsbad company’s strategy of beefing up its apparel business.Callaway paid $18 million to acquire the remaining 48 percent of its joint venture with TSI Groove & Sports. The deal includes 33 retail doors in Japan made up of stand-alone stores, outlet locations and store-in-store space.“This acquisition is consistent with our strategy to accelerate growth in our soft-goods business across brands and geographies,” said Callaway Chief Executive Chip Brewer in a statement. Since he joined Callaway Golf in 2012, Brewer has orchestrated a turnaround in the company’s core golf business, boosting club and ball market share. But participation in golf is mostly stagnant. So Brewer has been slowly morphing the company toward apparel as a path for growth.The moves began in 2016, when Callaway invested $10.6 million to form an … [Read more...] about Callaway Golf’s latest deal bolsters its move into clothing
Oliver “Chip” Brewer has a track record of success in the golf industry — first bringing Adams Golf to prominence and more recently orchestrating the turnaround of Carlsbad’s Callaway Golf. But can Brewer’s deft touch in the golf club and ball businesses carry over into the premium outdoor apparel and footwear markets? Callaway is about to find out. Earlier this year, the company bought German outdoor apparel brand Jack Wolfskin for $476 million, funding the deal mostly with debt. The acquisition — by far the largest of Brewer’s seven year tenure as Callaway’s chief executive — surprised Wall Street analysts. It represents a dramatic pivot toward soft goods for the golf equipment firm. With the addition of Jack Wolfskin, 45 percent of Callaway’s annual revenue is forecast to come from apparel, backpacks and similar soft goods this year, up from 23 percent prior to the deal. “While we remain confident with … [Read more...] about Callaway Golf takes a swing at outdoor apparel with Jack Wolfskin deal but will it pay off?
PUBLISHED: 11:46 25 December 2018 Taz Ali Sam and Josh De'ath with Christmas Day baby Kobi. Picture: Ella Wilkinson Archant A mother who was told she could never again conceive has hailed her new arrival as “a Christmas miracle”. Sam and Josh De'ath with Christmas Day baby Kobi. Picture: Ella WilkinsonSam De’ath, 30 of Globe Lane, Blofield, welcomed her second son Kobi into the world at 5.51am on Christmas morning, her third born child.However, even before the birth of her second born, 20-month-old Alanna, she had been told her eldest son Dylnn, 10, was destined to be an only child.Mrs De’ath said: “I’ve had a lot of problems in the past and was told before Alanna that I could have no more, but now I’ve had two since then.“Kobi is our little Christmas miracle. No Christmas will ever be as good as this one. Dylnn has always wanted a brother so he thinks Kobi is the best Christmas present he’s ever … [Read more...] about Two Christmas Day babies born in Norwich within just three minutes of each other
Gov.-elect Tim Walz’s choice for the open spot on Minnesota’s Public Utilities Commission will have a say in regulating electricity, natural gas and telecom industries in the state. But so far one energy project has loomed especially large over the selection process: a crude oil pipeline in northern Minnesota owned by Calgary-based Enbridge. At least two prominent candidates have been deeply involved in contesting and litigating the company’s effort to build Line 3, while another handful of applicants have at least some ties to debate over the project. If built, the $2.6 billion Minnesota portion of the new pipeline would stretch 337 miles through north-central Minnesota before ending in Superior, Wisconsin, carrying 760,000 barrels of oil through the state each day. A spot on the commission is open because Nancy Lange, the current chairwoman of the PUC, is expected to leave when her term expires in January. For PUC applications to be driven by a single project such … [Read more...] about Could pipeline politics affect Walz’s choice for next public utilities commissioner?
DENVER - Cleveland’s visit to Broncos Stadium at Mile High on Saturday proved to be more than a de facto NFL playoff elimination game.The Browns’ 17-16 win also offered a glimpse at the future, as the Browns and Broncos boast two of the most experienced and productive rookie classes in the league.Thanks in part to starting quarterback Baker Mayfield, the No. 1 overall pick out of Oklahoma, the Browns entered with the second-most snaps by rookies in the league (4,864). The Broncos, led by outside linebacker Bradley Chubb, the No. 5 overall pick from North Carolina State, were eighth (3,690).Denver has gotten historic production out of its offensive rookies. Wide receiver Courtland Sutton and running backs Phillip Lindsay and Royce Freeman entered with a combined 2,209 yards from scrimmage through 13 weeks, good for third all-time since the 1970 merger.Mayfield made the first play of the rookies.Following a Broncos punt on the game’s opening drive, Mayfield hit Jarvis … [Read more...] about Baker Mayfield, Browns beat Broncos in battle of rookie classes