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Article Date: May 2019
Word Count: 412

Callaway Bottom Line Hit by Lower Margins, Higher Spending in Q1


Net income dropped 23% to $48,647,000 from $62,855,000 in the first quarter on 28% higher sales of $516,197,000 up from $403,191,000 that included a $93 million bump from Jack Wolfskin and double digit improvement from TravisMathew. Organic core net sales increased 7%. U.S. sales gained 6% to $249.0 million, while Europe leapt up 147% on the addition of JW to $126.6 million and was up 167% constant currency. Japan sales increased 6% (+8% CC) to $73.2 million, and Rest of World, which now includes Korea and other Asian markets, jumped 42% (+49% CC) to $67.4 million.

 

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