Topgolf Callaway Brands Corp. (MODG) signed a multiyear agreement with Golf Saudi Entertainment LLC (Golf Saudi) to expand its brands in Saudi Arabia. This deal includes popular brands like Topgolf, Callaway, TravisMathew, Odyssey and Ogio, further supporting the company's global growth. MODG is expanding into the Middle East by partnering with Golf Saudi to establish its presence in Saudi Arabia. This collaboration will introduce innovative offerings and enhance the growth of golf in the region, positionin ...

文章核心观点 - 拓高高尔夫品牌集团与沙特高尔夫娱乐公司签署多年合作协议,将在未来几年内在沙特阿拉伯建设3家拓高高尔夫场馆 [1] - 拓高高尔夫品牌集团旗下的卡拉威高尔夫、Odyssey、TravisMathew和Ogio将成为沙特男女青少年国家高尔夫队以及沙特精英高尔夫球手和高尔夫场馆工作人员的官方装备和服装品牌 [1] - 沙特高尔夫娱乐公司将成为卡拉威高尔夫、Odyssey和Ogio产品在沙特阿拉伯的独家经销商 [1] 公司概况 - 拓高高尔夫品牌集团是一家集高尔夫装备、服装和娱乐于一体的科技驱动型现代高尔夫公司,旗下拥有拓高高尔夫、卡拉威高尔夫、TravisMathew、Odyssey、OGIO和Jack Wolfskin等全球知名品牌 [2] - 公司致力于推动"现代高尔夫"这一包括场内和场外高尔夫在内的动态和包容性生态系统的发展 [2] 合作背景 - 拓高高尔夫品牌集团正在积极拓展中东市场,此次与沙特高尔夫娱乐公司达成合作是进入另一个中东市场的举措 [2] - 沙特高尔夫娱乐公司是拓高高尔夫品牌集团在该地区的强大合作伙伴,双方将共同努力将沙特打造成一个卓越的高尔夫国家 [2]

Callaway and Topgolf are separating into the two areas they originally specialized in Topgolf Callaway Brands Corp (NYSE:MODG) is down 1% to trade at $10.65, but earlier was higher, after the entertainment and retail company announced it will split into two separate businesses. Callaway will focus on golf equipment and consumers' active lifestyle while Topgolf will take on the golf entertainment unit. If this sounds familiar at all, its because the two entities focused on these exact separate areas of busin ...

Key Takeaways Shares of Topgolf Callaway rose in premarket trading Thursday, a day after the company announced its intention to separate into two companies just over three years after their merger was completed. The companies merged in March 2021, calling it a "highly complementary fit" at the time. Callaway now believes the investments it has made set Topgolf up for long-term growth, and sees the best way forward for Topgolf as a separate public company. Shares of Topgolf Callaway Brands (MODG) rose about ...

Separation Will Create a Leading Golf Equipment and Active Lifestyle Company with Strong Free Cash Flow and the Category Leading, High-Growth, Pure-Play Venue-Based Golf Entertainment Business Both Businesses Will Have Strong Balance Sheets, Positive Free Cash Flow and the Required Scale to be Leaders in Their Respective Markets CARLSBAD, Calif., Sept. 4, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands," "we," "our," "us") (NYSE: MODG) today announced that its B ...

The two-level venue will be located along I-40 at Guilford College Road DALLAS, Aug. 29, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today it will open Topgolf Greensboro on Friday, Sept. 13. This is the fourth Topgolf venue in North Carolina including locations in Charlotte and Durham. The Basics Topgolf Greensboro celebrates grand opening on Friday, Sept. 13Topgolf Greensboro celebrates grand opening on Friday, Sept. 13 If you've never been to a Topgolf venue before, think of i ...

The two-level venue sits within The Parkways development in West Des Moines DALLAS, Aug. 22, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today it will open its first venue in Iowa, Topgolf Des Moines, on Sept. 6. This is Topgolf's 101st global outdoor venue. Topgolf Basics Topgolf opens its first venue in Iowa, Topgolf Des Moines, on Sept. 6.Topgolf opens its first venue in Iowa, Topgolf Des Moines, on Sept. 6. Never been to a Topgolf venue? Think of it as a modern golf experienc ...

Morsa Images/DigitalVision via Getty Images Summary Following my coverage of Topgolf Callaway Brands Corp. (NYSE:MODG) in May'24, for which I recommended a buy rating as the business was progressing well, which, I thought, would enable MODG to beat the FY24 guidance, this post is to provide an update on my thoughts on the business and stock. I revised my rating from buy to sell as I have lost confidence in MODG's ability to drive positive SVS growth in the near term, especially since all the initiatives imp ...

Photographer: Kent Nishimura/Bloomberg © 2024 Bloomberg Finance LP Deal Overview On August 7, 2024, Topgolf Callaway Brands Corp. (NYSE: MODG, $11.73, Market Capitalization: $2.2 billion), a prominent player in golf equipment and entertainment, announced that it is conducting a formal strategic review of its businesses, wherein the management is exploring a potential spin-off the Topgolf segment (for more information, visit spinoffresearch.com). This review includes the assessment of organic strategies to r ...

财务数据和关键指标变化 - 第二季度总收入11.58亿美元,低于预期,主要由于Topgolf同店销售低于预期 [15] - 第二季度非GAAP净收入8300万美元,同比增长约10%,主要由于投资收益增加和税收优惠 [56] - 第二季度调整后EBITDA2.06亿美元,与去年基本持平,但超出预期,得益于Topgolf的持续运营效率提升和成本管控 [52][55] - 公司下调全年收入指引至42-42.6亿美元,调整后EBITDA指引至57-59亿美元 [16][71] 各条业务线数据和关键指标变化 Topgolf业务 - 第二季度Topgolf收入同比增长5%至4.94亿美元,主要由于新开门店贡献 [57] - Topgolf运营利润同比增长28%至5600万美元,调整后EBITDA同比增长19%至1.1亿美元,得益于收入增长和持续的运营效率提升 [58] - 公司下调Topgolf全年收入指引至17.9亿美元,调整后EBITDA指引至3.1亿美元,主要由于下调同店销售预期 [73] - Topgolf同店销售在第二季度下降8%,主要由于整体客流疲软,其中1-2个球道和3个及以上球道表现类似 [20][21] - 公司预计Topgolf全年同店销售将下降高个位数至低个位数 [23] 高尔夫装备业务 - 第二季度高尔夫装备收入同比下降8%至4.14亿美元,主要由于去年同期推出的大力神系列木杆和铁杆的销售基数较高 [59][60] - 高尔夫装备业务营业利润同比下降20%至7700万美元,主要受到收入下降、运输成本上升和汇率不利影响,但部分被成本管控抵消 [61] - 公司预计全年高尔夫装备收入将基本持平,按固定汇率计算将略有增长 [45] 主动生活方式业务 - 第二季度主动生活方式收入同比下降3%至2.5亿美元,主要由于Jack Wolfskin销售疲软和汇率不利影响 [62][63] - 主动生活方式业务营业利润同比下降至1500万美元,主要由于收入下降 [62] - 公司预计全年主动生活方式收入和利润将同比下降,主要由于去年TravisMathew有35百万美元的渠道补货 [75] 各个市场数据和关键指标变化 - 美国、日本和欧洲等核心高尔夫市场保持健康,公司在这些市场的收入和市场份额略有增长 [42] - 韩国市场持续疲软,下降幅度达到两位数,公司在该市场的表现也不尽如人意,已采取措施以期改善 [42] 公司战略和发展方向及行业竞争 - 公司正在对Topgolf业务进行全面战略评估,包括评估有机增长策略和潜在的剥离方案,以最大化长期股东价值 [11][12][13] - 公司认为Topgolf是一个优质业务,具有巨大的未来机会,正在采取措施提升同店销售增长 [11][36] - 公司在高尔夫装备业务方面保持强劲的市场份额表现,Callaway品牌在驱动器、木杆和铁杆等主要品类保持领先地位 [37][40] - 公司在高尔夫球业务方面的投资持续发挥作用,Chrome Tour系列球杆的表现良好,市场份额创新高 [39][40] 管理层对经营环境和未来前景的评论 - 持续高涨的通胀导致广泛的消费者支出紧缩,这对Topgolf业务造成一定压力 [19] - 公司认为Topgolf同店销售下滑主要是经济周期性因素和疫情后正常化,而非根本性问题 [35][36] - 公司相信Topgolf长期增长前景依然良好,正在采取措施提升同店销售表现 [36][49] - 公司对高尔夫装备业务保持乐观,认为消费者需求仍然强劲,市场份额保持领先 [37][42] - 公司对主动生活方式业务的TravisMathew品牌保持信心,但对Jack Wolfskin业务进行了调整 [46][47] 其他重要信息 - 公司在第二季度末进行了5000万美元的债务提前偿还 [52] - 公司的总净负债率为3.9倍,剔除Topgolf相关的REIT债务后为1.9倍,流动性充足 [64][65] - 公司在第二季度成功降低193百万美元的存货,达到合理水平 [69] 问答环节重要的提问和回答 问题1 **Alex Perry 提问** 是否考虑暂停Topgolf的未来门店扩张,以及Topgolf客流和客单价的情况 [87][88] **Chip Brewer 回答** - 公司将继续保持Topgolf的门店扩张,预计未来每年平均新开10家门店 [88][89] - Topgolf的客流是主要问题,而客单价相对稳定,公司正采取措施提升客流 [90][91][92] 问题2 **Matthew Boss 提问** Topgolf在定价和提供价值方面的考虑 [98] **Chip Brewer 回答** - 公司在Topgolf的定价和促销方面保持谨慎和有针对性,以保护品牌价值 [99][100][101] - 公司正在采取多项措施提升Topgolf的同店销售,包括提供更多新鲜有趣的体验 [113][114] 问题3 **Megan Alexander 提问** 公司对Topgolf战略评估的具体目标和时间表 [110][111] **Chip Brewer 回答** - 公司正在评估Topgolf的有机增长策略,包括进一步提升同店销售能力 [113][114][115] - 同时也在评估潜在的剥离方案,以最大化长期股东价值,但暂不能透露更多细节 [122