Acushnet Holdings Corporation, the parent company of the Titleist, FootJoy and Kjus golf brands, reported that net sales for the first quarter of 2024 increased 3.1%, driven by higher sales of Titleist clubs and balls, and slightly offset Low selling price on FootJoy. golf wear.
A decline in product sales volume, which was not accounted for by one-quarter of the company’s reporting, also contributed to the change in net sales.
The U.S. market set the pace for the quarter with a 13% increase in sales year-over-year to $418.2 million, driven by a 20% increase in sales of Titleist golf clubs, a 15% increase in Titleist balls, and a 13% increase in sales. its golf bag and travel product categories.
The increase in Titleist equipment is due to higher sales of the newly introduced SM10 wedges, while the football division increased sales of Pro V1 and Pro V1x, Velocity and the latest generation of AVX, Tour Soft, and TruFeel models introduced in – first quarter of 2024.
Total sales in regions outside the US fell 8.5%, with sales declining in EMEA, Korea and Japan.
In EMEA, the decline was primarily due to lower sales of FootJoy apparel and footwear, and Titleist golf gear, partially offset by an increase in Titleist clubs.
Commenting on the Q1 results, David Maher, president and CEO, Acushnet Holdings, said: “I am pleased to report a strong first quarter for Acushnet, which benefited from the continued strength of Titleist golf balls and golf clubs and the impressive execution of our operations. of the world. teams in introducing a wide range of new products across our Titleist, FootJoy and Kjus brands.”
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