Some math whiz needs to explain this to me. In its Q3 earnings report today, Callaway Golf said it has “continued to gain market share.’’ Yet its core metal woods business is down 20 percent for the nine months vs. the same period in 2014; its irons and putters sales are up only one percent each; its accessories business is down nine percent; and its ball business is down three percent the first nine months of this year vs. 2014.
Oh yes, Callaway reported a loss of $3.6M in Q3 and its nine-month earnings are $45M – more than $12M less than the first nine months of 2014.
So how can you put together those kinds of numbers and claim to gain market share?
Callaway’s Q3 sales were $175.8M – a four percent increase vs. the same period in 2014, but the company’s nine-months sales for 2015 are $690M – eight percent less than the same period in 2014. The company said it expects its full 2015 sales to be between $835-840M.