Pursuits
Nike Gives Up on Golf Equipment
- Company had suffered years of declining sales in category
- Move deals fresh blow to sport hurt by slowing participation
Will Nike's Golf Pullback Benefit Adidas?
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Nike Inc., the world’s largest maker of sporting goods, will stop selling golf equipment, striking another blow to a pastime hurt by slowing participation rates in recent years.
The company will shift away from the golf clubs, balls and bags most notably championed by Tiger Woods, but it will continue selling footwear and apparel for the sport, according to a statement Wednesday. Sales at the Nike Golf division fell 8.2 percent to $706 million in the fiscal year that ended in May, making it the company’s worst performing major category.