Oliver “Chip” Brewer has a track record of success in the golf industry — first bringing Adams Golf to prominence and more recently orchestrating the turnaround of Carlsbad’s Callaway Golf. But can Brewer’s deft touch in the golf club and ball businesses carry over into the premium outdoor apparel and footwear markets? Callaway is about to find out. Earlier this year, the company bought German outdoor apparel brand Jack Wolfskin for $476 million, funding the deal mostly with debt. The acquisition — by far the largest of Brewer’s seven year tenure as Callaway’s chief executive — surprised Wall Street analysts. It represents a dramatic pivot toward soft goods for the golf equipment firm. With the addition of Jack Wolfskin, 45 percent of Callaway’s annual revenue is forecast to come from apparel, backpacks and similar soft goods this year, up from 23 percent prior to the deal. “While we remain confident with … [Read more...] about Callaway Golf takes a swing at outdoor apparel with Jack Wolfskin deal but will it pay off?
China golf industry report
By Bloomberg News | PUBLISHED: November 8, 2018 at 11:29 am | UPDATED: November 8, 2018 at 11:30 am By Christopher Rauwald | Bloomberg News Volkswagen plans to add a subcompact crossover costing about 18,000 euros ($21,000) to its all-electric I.D. range, expanding its lineup of zero-emissions vehicles that are more affordable than those of Tesla Inc., according to people familiar with the matter. The entry level vehicle may be built at VW’s factory in Emden, Germany, said the people, who asked not to be identified because the plan hasn’t received final approval by the manufacturer’s supervisory board. Sales could start sometime after 2020, and the company expects to sell about 200,000 per year, they said. That would put it on par with current production levels of the more-expensive Tesla Model 3, the U.S. electric-car leader’s most affordable vehicle, which is due to arrive in Europe next year. The I.D. range is at the heart of one of the auto … [Read more...] about Report: VW planning to challenge Tesla with $21K e-car
Joe Mcdonald, Ap Business Writer Updated 1:17 am PDT, Monday, September 24, 2018 FILE - In this Feb. 23, 2015 file photo, container ships wait to be unloaded at the Port of Los Angeles. China has raised tariffs on $60 billion of U.S. imports in an escalation of their trade battle following a deadline for President Donald Trump’s latest increase. less FILE - In this Feb. 23, 2015 file photo, container ships wait to be unloaded at the Port of Los Angeles. China has raised tariffs on $60 billion of U.S. imports in an escalation of their trade battle following ... more Photo: Nick Ut, AP FILE - In this Thursday, July 12, 2018, file photo, the container ship Maersk Emerald is unloaded at the Port of Oakland, Calif. China has raised tariffs on $60 billion of U.S. imports in an escalation of their trade battle following a deadline for President Donald Trump’s latest increase. less FILE - In this … [Read more...] about China hikes tariffs on US imports as trade row intensifies
By Roland Li Updated 6:23 pm PDT, Monday, September 17, 2018 (FILES) In this file photo taken on July 12, 2018 shipping containers, including those from COSCO, a Chinese state-owned shipping and logistics company await transportation on a rail line at the Port of Long Beach in Long Beach, California. - US President Donald Trump on September 17, 2018 hailed his aggressive use of tariffs as a success for American business, amid reports he plans to drastically ratchet up the battle with Beijing imminently. China's foreign ministry vowed Monday to strike back if Trump presses ahead with plans to impose duties on another $200 billion in Chinese imports, which would leave about half of everything the United States buys from China subject to tariffs. (Photo by Frederic J. BROWN / AFP)FREDERIC J. BROWN/AFP/Getty Images less (FILES) In this file photo taken on July 12, 2018 shipping containers, including those from COSCO, a Chinese state-owned shipping and logistics company await … [Read more...] about U.S. increases China tariffs by $200 billion, but spares Apple, Fitbit
Bottles of Coke featuring images of Berkshire Hathaway Chairman and CEO Warren Buffett sit near a dispatch rider’s bike Tuesday in Beijing. China is delaying license applications from some American companies until progress is made in negotiations with U.S. trade officials, a business group said Tuesday. BEIJING -- China is delaying license applications from American companies in financial services and other industries until progress is made in negotiations with U.S. trade officials, a business group said Tuesday. The disclosure is the first public confirmation of U.S. companies' fears that their operations in China or access to its markets might be disrupted by the dispute over China's technology policy. China is running out of American imports to penalize in response to President Donald Trump's tariff increases, which has prompted worries that Chinese regulators might target operations of U.S. companies. The license delay applies to industries that China has promised to open … [Read more...] about China delays license OKs for U.S. firms