Latest news with #ChipBrewer
Malaysian Reserve
7 days ago
- Business
- Malaysian Reserve
Topgolf Callaway Brands Completes Sale of Jack Wolfskin to ANTA Sports
CARLSBAD, Calif., June 2, 2025 /PRNewswire/ — Topgolf Callaway Brands Corp. (NYSE: MODG) ('Topgolf Callaway Brands' or the 'Company') is pleased to announce the successful completion of the sale of its Jack Wolfskin business to ANTA Sports for $290 million, subject to certain customary closing adjustments. The transaction, which closed effective May 31, 2025, represents a significant milestone for Topgolf Callaway Brands as it refocuses its strategic priorities on its core businesses and enhances the Company's financial flexibility ahead of the planned separation of Topgolf from its core operations. Chip Brewer, President and CEO of Topgolf Callaway Brands, stated, 'We are excited to announce the successful completion of the sale of our Jack Wolfskin business to ANTA Sports. We believe that ANTA Sports will continue to uphold the integrity and reputation of the Jack Wolfskin brand, and we extend our gratitude to our Jack Wolfskin employees for their hard work and dedication in positioning the business for its next chapter.' For more information about Topgolf Callaway Brands and its portfolio, please visit Investor/Media Contact:Katina MetzidakisEmail: invrelations@ About Topgolf Callaway Brands Callaway Brands Corp. (NYSE: MODG) is an unrivaled tech-enabled Modern Golf and active lifestyle company delivering leading golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Odyssey and OGIO. 'Modern Golf' is the dynamic and inclusive ecosystem that includes both on-course and off-course golf. Forward-Looking StatementsStatements used in this press release that relate to future plans, events, financial results, performance, prospects, or growth opportunities, including statements relating to the Company's liquidity and financial flexibility following the completion of the sale, the growth and positioning of the Company's portfolio of brands, increased focus on the Company's portfolio of leading brands, and statements of belief and any statement of assumptions underlying any of the foregoing, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. The words 'believe,' 'expect,' 'estimate,' 'could,' 'would,' 'should,' 'intend,' 'may,' 'plan,' 'seek,' 'anticipate,' 'project' and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. These statements are based upon current information and expectations. Accurately estimating the forward-looking statements is based upon various risks and unknowns, including our ability to successfully execute on planned and potential transactions, including our planned separation of Topgolf, and the potential to realize the expected benefits of such transactions on the expected timeframes or at all. Actual results may differ materially from those estimated or anticipated as a result of these risks and unknowns or other risks and uncertainties. For additional information concerning these and other risks and uncertainties that could affect these statements and the Company's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 as well as other risks and uncertainties detailed from time to time in the Company's reports on Forms 10-K, 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Yahoo
7 days ago
- Business
- Yahoo
Topgolf Callaway Brands Completes Sale of Jack Wolfskin to ANTA Sports
CARLSBAD, Calif., June 2, 2025 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) ("Topgolf Callaway Brands" or the "Company") is pleased to announce the successful completion of the sale of its Jack Wolfskin business to ANTA Sports for $290 million, subject to certain customary closing adjustments. The transaction, which closed effective May 31, 2025, represents a significant milestone for Topgolf Callaway Brands as it refocuses its strategic priorities on its core businesses and enhances the Company's financial flexibility ahead of the planned separation of Topgolf from its core operations. Chip Brewer, President and CEO of Topgolf Callaway Brands, stated, "We are excited to announce the successful completion of the sale of our Jack Wolfskin business to ANTA Sports. We believe that ANTA Sports will continue to uphold the integrity and reputation of the Jack Wolfskin brand, and we extend our gratitude to our Jack Wolfskin employees for their hard work and dedication in positioning the business for its next chapter." For more information about Topgolf Callaway Brands and its portfolio, please visit Investor/Media Contact:Katina MetzidakisEmail: invrelations@ About Topgolf Callaway Brands Callaway Brands Corp. (NYSE: MODG) is an unrivaled tech-enabled Modern Golf and active lifestyle company delivering leading golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Odyssey and OGIO. "Modern Golf" is the dynamic and inclusive ecosystem that includes both on-course and off-course golf. Forward-Looking StatementsStatements used in this press release that relate to future plans, events, financial results, performance, prospects, or growth opportunities, including statements relating to the Company's liquidity and financial flexibility following the completion of the sale, the growth and positioning of the Company's portfolio of brands, increased focus on the Company's portfolio of leading brands, and statements of belief and any statement of assumptions underlying any of the foregoing, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "estimate," "could," "would," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. These statements are based upon current information and expectations. Accurately estimating the forward-looking statements is based upon various risks and unknowns, including our ability to successfully execute on planned and potential transactions, including our planned separation of Topgolf, and the potential to realize the expected benefits of such transactions on the expected timeframes or at all. Actual results may differ materially from those estimated or anticipated as a result of these risks and unknowns or other risks and uncertainties. For additional information concerning these and other risks and uncertainties that could affect these statements and the Company's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 as well as other risks and uncertainties detailed from time to time in the Company's reports on Forms 10-K, 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. View original content to download multimedia: SOURCE Topgolf Callaway Brands Corp. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
28-04-2025
- Business
- Los Angeles Times
Topgolf Callaway To Sell Jack Wolfskin Business for $290 Million
Carlsbad-based Topgolf Callaway Brands Corp. agreed to sell its Jack Wolfskin product line to Anta Sports Products Ltd. for $290 million. As part of the acquisition, Anta Sports Products will acquire 100% of the outstanding equity interests of Callaway Germany Holdco GmbH, which owns various entities that operate the Jack Wolfskin business. The golf brand was estimated to generate 325 million euros in revenue for 2025 based on the company's financial guidance. The deal was unanimously approved by the Topgolf Callaway board. It is expected to close by the third quarter of 2025. Proceeds from the transaction will be used to enhance Topgolf Callaway Brands Corp's balance sheet and liquidity ahead of the planned separation of Topgolf from its core operations. 'I am pleased to announce we have reached an agreement to sell the Jack Wolfskin business to Anta Sports, a global leader in sports apparel and footwear,' said Chip Brewer, chief executive and president of Topgolf Callaway Brands, in a statement. The Goldman Sachs Group, Inc. acted as financial advisor to Topgolf Callaway Brands Corp., and Latham & Watkins LLP acted as legal advisor. Morgan, Lewis & Bockius acted as legal advisor to Anta Sports Products Ltd. Information for this article was sourced from Topgolf Callaway Brands Corp.
Yahoo
02-04-2025
- Business
- Yahoo
Leisure Facilities Stocks Q4 Highlights: Topgolf Callaway (NYSE:MODG)
Let's dig into the relative performance of Topgolf Callaway (NYSE:MODG) and its peers as we unravel the now-completed Q4 leisure facilities earnings season. Leisure facilities companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted their spending from "things" to "experiences". Leisure facilities seek to benefit but must innovate to do so because of the industry's high competition and capital intensity. The 11 leisure facilities stocks we track reported a mixed Q4. As a group, revenues beat analysts' consensus estimates by 1.3% while next quarter's revenue guidance was 1.6% below. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 11.9% since the latest earnings results. Formed between the merger of Callaway and Topgolf, Topgolf Callaway (NYSE:MODG) sells golf equipment and operates technology-driven golf entertainment venues. Topgolf Callaway reported revenues of $924.4 million, up 3% year on year. This print exceeded analysts' expectations by 4.5%. Despite the top-line beat, it was still a slower quarter for the company with full-year EBITDA guidance missing analysts'. "We are pleased with our strong finish to the year with fourth quarter revenue, adjusted EBITDA and adjusted free cash flow exceeding expectations," commented Chip Brewer, President and CEO. The stock is down 5.9% since reporting and currently trades at $6.30. Read our full report on Topgolf Callaway here, it's free. Owner of Ticketmaster and operator of music festival EDC, Live Nation (NYSE:LYV) is a company specializing in live event promotion, venue management, and ticketing services for concerts and shows. Live Nation reported revenues of $5.68 billion, down 2.4% year on year, outperforming analysts' expectations by 1.4%. The business had an exceptional quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 13.2% since reporting. It currently trades at $132.27. Is now the time to buy Live Nation? Access our full analysis of the earnings results here, it's free. Owner of CycleBar, Rumble, and Club Pilates, Xponential Fitness (NYSE:XPOF) is a boutique fitness brand offering diverse and specialized exercise experiences. Xponential Fitness reported revenues of $83.22 million, down 6.8% year on year, exceeding analysts' expectations by 3.1%. Still, it was a softer quarter as it posted full-year revenue guidance missing analysts' expectations. Xponential Fitness delivered the weakest full-year guidance update in the group. As expected, the stock is down 31.9% since the results and currently trades at $8.30. Read our full analysis of Xponential Fitness's results here. Famous for its viral Las Vegas Sphere venue, Sphere Entertainment (NYSE:SPHR) hosts live entertainment events and distributes content across various media platforms. Sphere Entertainment reported revenues of $308.3 million, down 1.9% year on year. This result topped analysts' expectations by 6.9%. Overall, it was a strong quarter as it also produced a solid beat of analysts' adjusted operating income estimates and an impressive beat of analysts' EPS estimates. Sphere Entertainment scored the biggest analyst estimates beat among its peers. The stock is down 23.7% since reporting and currently trades at $33.32. Read our full, actionable report on Sphere Entertainment here, it's free. With over 150 locations and gyms that include saunas and steam rooms, Life Time (NYSE:LTH) is an upscale fitness club emphasizing holistic well-being and fitness. Life Time reported revenues of $663.3 million, up 18.7% year on year. This print met analysts' expectations. It was a strong quarter as it also put up a solid beat of analysts' EPS estimates and full-year EBITDA guidance topping analysts' expectations. Life Time delivered the highest full-year guidance raise among its peers. The stock is down 4.2% since reporting and currently trades at $30.30. Read our full, actionable report on Life Time here, it's free. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. Sign in to access your portfolio
Los Angeles Times
23-03-2025
- Business
- Los Angeles Times
Topgolf Callaway Brands Delivers Strong Q4 2024 Performance
The sporting/entertainment company outpaced expectations, with a 27% surge Carlsbad-based Topgolf Callaway Brands Corp. (NYSE: MODG) capped off 2024 with a solid fourth quarter, reporting 3% consolidated net revenue growth and a remarkable 45% increase in adjusted EBITDA to $101.4 million. The company also delivered a 27% surge in adjusted free cash flow, reaching $203 million. These results exceeded expectations, reinforcing the brand's leadership in golf equipment and lifestyle apparel while highlighting strong operational performance across its diverse portfolio. 'We are pleased with our strong finish to the year,' said Chip Brewer, President and CEO. 'Our Q4 results reflect continued strength in our Golf Equipment business, a robust finish for Topgolf, and successful operational efficiencies at Travis Mathew and Jack Wolfskin. As we move into 2025, our focus remains on improving same venue sales at Topgolf, launching innovative products and driving operational excellence. While we face some short-term headwinds, we are confident in our long-term strategy and ability to deliver significant shareholder value.' However, the company's GAAP net results included a $1.5 million non-cash impairment charge related to Topgolf's goodwill and intangible assets, leading to a GAAP net loss of $1.5 million. Despite some macroeconomic challenges, Topgolf Callaway Brands remains confident in its market-leading position, operational strength and ability to drive long-term growth. By leveraging brand strength, strategic investments and operational efficiencies, the company aims to enhance shareholder value and sustain momentum into 2025.
