AdidasAG today reported TaylorMade-adidas Q1 sales dropped two percent to $316M and reiterated its intent to sell its golf division that’s comprised of TaylorMade, Adams Golf and apparel brand Ashworth. AdidasAG didn’t provide golf division earnings.
AdidasAG said it will “actively seek” a buyer for the remainder of its golf business. That’s consistent with its previous statements regarding the matter, but for the first time it put the TaylorMade brand itself squarely in the crosshairs of a sale, along with Adams and Ashworth. Question is, given the struggles of the golf equipment industry, where will adidasAG find a buyer? It can no doubt find a buyer for the TaylorMade brand, but perhaps not at the price it wants. Adams and Ashworth could simply be goners.
More information on the sporting goods giant’s plans for its golf division might be known at adidasAG’ss annual meeting May 12 in Fuerth, Germany.