ADI­DAS QUITS GOLF

Finweek English Edition - - THE WEEK -

Ger­man sports­wear group Adi­das said it has de­cided to sell the bulk of its golf busi­ness, which has been strug­gling as the sport loses pop­u­lar­ity in the US, ft.com re­ported. The golf unit’s rev­enue dropped 13% last year, and de­clined a fur­ther 1% in the first quar­ter of 2016, ex­clud­ing cur­rency moves. Adi­das will con­tinue to make footwear and cloth­ing for golfers, and will try to find a buyer for the bulk of its golf busi­ness, which in­cludes the brands Tay­lorMade, Adams and Ash­worth, ft.com said.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.