Callaway Golf Company ELY announced atrocious preliminary results for the third quarter. While the press release covers some of the ins and outs this key quote stands out.
Lower in-store traffic at key golf retailers during the June through September season. This resulted in lower retail sales and a related decrease in wholesale re-orders for the Company. The decline is consistent with recent national retail trends.”
Analyze and strategize all you want but when the customer does not show up you have a very big problem. Management needs to make comments in light of reduced traffic and not big picture product announcements.