Month: August 2024

Categories
Brands

Mixed Quarterly Results at Callaway – Topgolf in Focus

Callaways earnings report. (Photo: Getty)
Callaways earnings report. (Photo: Getty)

Topgolf Callaway Brands Corp. has announced its financial results for the second quarter of 2024. While the company wants to send positive signals in some areas, it is struggling with some challenges and is particularly critical of developments in the Topgolf segment.

Callaway: Financial results for the second quarter

In the second quarter of 2024, the company generated a net income of 62 million dollars. Compared to the previous year, this represents a decline of 47.1 %. However, excluding certain exceptional items, adjusted income rose to $83 million, an increase of 9.9%. Adjusted EBITDA, which represents operating earnings before interest, taxes, depreciation and amortisation, was USD 206 million, exceeding expectations.

Consolidated revenue, on the other hand, fell by 1.9 % to 1,157.8 million dollars. This decline is mainly due to lower demand in the golf equipment and active lifestyle segments. In the golf equipment segment, sales fell by 8.2%, which Callaway said was the result of a planned shift of the market launch of equipment products compared to last year. This was compounded by challenges such as negative FX trends, persistently high inflation and weaker than expected visitor numbers at top golf locations.

Despite the decline in sales, the company was able to maintain its leading position in the US market for golf clubs and golf balls. Callaway’s products, in particular the new Ai Smoke clubs and Chrome Tour golf balls, continued to show strong sales figures.

Sales at Topgolf below expectations

Topgolf, a central component of the company, recorded an overall increase in sales of 5% in the second quarter of 2024, but this was mainly due to new locations. Locations that have been in operation for 24 months or more saw an 8% decline in sales. This development is due to lower customer frequency at existing locations. Commenting on Topgolf’s performance, Chip Brewer, CEO of Topgolf Callaway, said: “We have been disappointed in our stock performance for some time, as well as the more recent same venue sales performance.”

In light of these figures, the company has initiated a strategic review of Topgolf, considering various growth strategies and potential structural changes. Brewer added: “This review includes the assessment of organic strategies to return Topgolf to profitable same venue sales growth, as well as inorganic alternatives, including a potential spin of Topgolf.” However, Brewer also emphasised that the company remains a firm believer in the potential of Topgolf: “We remain convinced that Topgolf is a high-quality business with significant future opportunities. It is transforming the game of golf and we believe it will deliver significant growth and financial returns over time.”

Adjusted annual forecast and financial measures

Due to the current challenges, the company has been forced to revise its annual forecast downwards. The expected annual turnover is now between 4,200 and 4,260 million dollars, while the adjusted EBITDA is estimated at 570 to 590 million dollars.

In order to be in a stronger financial position, the company has also repaid 50 million dollars of its debt ahead of schedule and increased its liquidity, i.e. its available funds, by 136 million dollars compared to the previous year.

Categories
Highlights Tours

Golf at the Olympics 2024 – The Tee Times For Day 3

Tee Times for Golf at the Olympics 2024. (Photo: Getty)
Tee Times for Golf at the Olympics 2024. (Photo: Getty)

The women’s golf tournament at the 2024 Olympics will take place from Wednesday, 7. August to Saturday, 10. August. All 60 participants will play 18 holes over four days. The golfer with the fewest strokes after a total of 72 holes will win the gold medal, while second and third place will receive silver and bronze. If golfers have the same number of strokes at the end of 72 holes, there will be a play-off.

Golf at the 2024 Olympics: Starting Times

The four tournament rounds at the 2024 Olympics will start at 9 a.m. from Wednesday to Saturday. They will start in flights of three, i.e. groups of three golfers. All flights begin their round on the first tee, starting 11 minutes apart. The tee times for rounds 1 and 2 are announced before the start of the tournament, while the starting order for rounds 3 and 4 is usually determined by the leaderboard from the previous day. The best players then start last.

Live Scores of Golf at the Olympics 2024

Tee Times Olympia Women 2024 Round 3

Starting Time Hole Player 1 Player 2 Player 3
9:00 1 DELACOUR Perrine
(FRA)
 FASSI Maria
(MEX)
 KOMULAINEN Noora
(FIN)
9:11 1 LAKLALECH Ines
(MAR)
 WIKSTROM Ursula
(FIN)
 MAGUIRE Leona
(IRL)
9:22 1 PEDERSEN Emily K
(DEN)
 MEADOW Stephanie
(IRL)
 HULL Charley
(GBR)
9:33 1 SASO Yuka
(JPN)
 CIGANDA Carlota
(ESP)
 FANALI Alessandra
(ITA)
9:44 1 KOUSKOVA Sara
(CZE)
 FORSTERLING Alexandra
(GER)
 RETO Paula
(RSA)
9:55 1 LAU Ashley
(MAS)
 STAVNAR Madelene
(NOR)
 DAVIDSON SPILKOVA Klara
(CZE)
10:11 1 BELAC Ana
(SLO)
 KOERSTZ MADSEN Nanna
(DEN)
 van DAM Anne
(NED)
10:22 1 SCHOBER Sarah
(AUT)
 TAN Shannon
(SGP)
 ARDINA Dottie
(PHI)
10:33 1 HENDERSON Brooke M.
(CAN)
 TAVATANAKIT Patty
(THA)
 HALL Georgia
(GBR)
10:44 1 de ROEY Manon
(BEL)
 CHIEN Pei-Yun
(TPE)
 GREEN Hannah
(AUS)
10:55 1 KIM Hyo Joo
(KOR)
 MUNOZ Azahara
(ESP)
 SHARP Alena
(CAN)
11:06 1 GRANT Linn
(SWE)
 VALENZUELA Albane
(SUI)
 KO Jin Young
(KOR)
11:17 1 SPITZ Emma
(AUT)
 LEE Minjee
(AUS)
 HENSELEIT Esther
(GER)
11:33 1 STARK Maja
(SWE)
 LOPEZ Gaby
(MEX)
 BORGE Celine
(NOR)
11:44 1 VU Lilia
(USA)
 YANG Amy
(KOR)
 ASHOK Aditi
(IND)
11:55 1 KORDA Nelly
(USA)
 HSU Wei-Ling
(TPE)
 DAGAR Diksha
(IND)
12:06 1 BUHAI Ashleigh
(RSA)
 LIN Xiyu Janet
(CHN)
 ZHANG Rose
(USA)
12:17 1 THITIKUL Atthaya
(THA)
 BOUTIER Celine
(FRA)
 YAMASHITA Miyu
(JPN)
12:28 1 URIBE Mariajo
(COL)
 BABNIK Pia
(SLO)
 PAGDANGANAN Bianca
(PHI)
12:39 1 METRAUX Morgane
(SUI)
 YIN Ruoning
(CHN)
 KO Lydia
(NZL)
Categories
Highlights Tours

Disaster at the 2024 Olympics: Did this Hole Cost Nelly Korda Gold?

Nelly Korda at the 2024 Olympics (Photo: Getty)
Nelly Korda at the 2024 Olympics (Photo: Getty)

It was a surprisingly poor start to the tournament for the Tokyo gold medalist. Many were probably surprised when Nelly Korda was already three strokes over par after seven holes of the golf tournament at the 2024 Olympics. However, she then showed a more familiar picture in the second round. A flawless front nine, five strokes under par after eleven holes. She climbed up the leaderboard and was even tied for second place after another stroke gain. The gold medal was within reach again.

Live Scores of Women’s Golf at the Olympics 2024

Golf at the 2024 Olympics: quadruple bogey for Nelly Korda

Then came the 16th and the tide turned quickly. Korda skillfully avoided the 15th, where many of the great golfers had already strayed into the water, but she got wet on the 16th. The ball, which was supposed to land directly on the green on the par 3, hit land on the other side of the water hazard, but bounced back unhappily. A penalty stroke for the American and she continued from the drop zone. She was unable to collect herself quickly enough and her third shot also fell short and landed in the bunker in front of the green. She was unable to control the ball properly from the bunker and it rolled far too far into the front green on the opposite side. Stroke 5 finally brought the ball within two meters of the hole. However, it took two more putts before the ball was finally sunk.

(Screenshot: igfgolf.org)

She recorded a total of seven strokes on the par-3. Four of the six strokes she had gained over the course of the day were lost again and the medals were a long way off. Even a world number one is not immune to a hole like this and she was also shaky on 17. A three putt cost her another shot. At least there was a final birdie for Korda on the 18th, but the round of 70 is far from what it could have been. She dropped back to T12, six strokes behind the leader Morgane Metraux. With two rounds still to play, Nelly Korda is far from being written off, but the path to a second gold has become much more difficult.

Categories
PGA Tour

Tropical Storm Debby: Round 1 of the PGA Tour Postpones to Friday

Storm troubles PGA Tour Wyndham Championship 2024. (Image: Getty)
Storm troubles PGA Tour Wyndham Championship 2024. (Image: Getty)

Tropical Storm Debby is causing weather chaos on the PGA Tour. Large amounts of water were already coming down in the practice rounds and now it looks like the storm will further hamper the 2024 Wyndham Championship at Sedgefield Country Club. What initially looked like a simple storm has developed into a tropical storm over the last few days, forcing the organisers to not only ban spectators from visiting the course on the first day of the tournament but to later postpone the whole first round to Friday.

“Difficult decision” – Tournament Director Powell on the decision on the PGA Tour

In an initial statement on Wednesday morning, there was no mention of the exclusion of spectators, “Debby is expected to move inland Thursday and continue to the northwest before shifting northward across Central North Carolina Friday morning,” wrote the TOUR’s official weather forecast on Wednesday morning. “This will produce widespread rain and a few thunderstorms throughout the day Thursday with showers and isolated t-storms continuing into Friday morning.”

In the afternoon, however, the fears of the organisers and the tour were confirmed. Spectators will have to stay at home on Thursday in Round 1 and the match will be played as far as possible. “This decision was a difficult one for us to make with our partners at the PGA TOUR, but everyone’s safety is our top priority,” Tournament Director Bobby Powell said. “The most-recent forecast looks like the storm could clear our area sometime Friday,” according to a statement on the PGA Tour website.

There was another development on Thursday, when the tournament was supposed to start. The entire first round had to be postponed to Friday because a flash flood warning was in effect for the Greensboro area. “This is a dangerous and life-threatening situation,” wrote the National Weather Service.

Spectators with tickets for the first day can use them on the three following tournament days should the weather improve.

The last tournament before the FedEx Cup playoffs could be a last chance for some players to qualify for the FedEx St. Jude Championship the following week.

Categories
Apparel Equipment

Callaway Apparel: Vibrant High Summer Collection 2024

The Summer Collection from Callaway Apparel. (Image: Callaway)
The Summer Collection from Callaway Apparel. (Image: Callaway)

Callaway Apparel has unveiled a new micro-line of High Summer 2024 apparel for men and women, presenting a fresh, vibrant product line for the extended summer season.This collection will stay true to the brand’s authentic, performance-driven golf heritage, while delivering fashion-inspired polos, skorts and light layering garments specifically designed for the warmest part of the year.

Callaway Apparel 2024: Cooling Fibers and UV Blocking

A host of leading Callaway Apparel technologies also features across the new apparel capsule, including Eco Cooling, which comprises gel-like fibers interwoven into garments offering an immediate cooling effect, and Swing Tech™, which consists of re-engineered construction and materials that provide noticeably less restriction and more stretch to maximise range of motion.

(Image: Callaway Apparel)


UV Block fabric technology is also an important aspect of the High Summer micro-line and a key feature in the women’s long-sleeved garments, increasing the protection against the sun’s strong and harmful rays.

(Image: Callaway Apparel)


Finally, proven Opti Dry™Technology, a fast-drying Polyamide based fibre technology, offers the wearer the benefit of exceptional moisture management to keep you dry and light during high summer activity.
Commenting on this range extension, Helen Willsmer, Brand Director at Callaway Apparel, said: “With our Summers seemingly extending every year, it makes perfect sense to add a new micro-line that has been carefully curated for the warmer temperatures.
“As with all Callaway Apparel garments, our new High Summer capsule fuses athletic performance with a classic fit, and game-changing innovation.”

Text: Callaway Apparel

Categories
Travel

Explore ASD Golf Crema Resort: Italy’s Longest and Most Technical Course

The ASD Golf Crema Resort. (Image: Golf Crema Resort)
The ASD Golf Crema Resort. (Image: Golf Crema Resort)

Located in the picturesque region of Lombardia, Italy, ASD Golf Crema Resort offers a captivating golfing experience. Nestled in Crema, within the province of Cremona, this golf course is notable for its challenging design and beautiful surroundings. The course, known as “Daddy,” is recognized as one of the longest in Italy, catering to both experienced and novice players.

Technical Layout and Long Holes – ASD Golf Crema Resort

The ASD Golf Crema Resort features a technical layout that includes numerous ponds and canals. This requires players to come prepared with extra balls. The course is designed to challenge golfers with its intricate holes, making it a suitable test for seasoned players, while also providing opportunities for beginners through advanced tee-off options. The surrounding Moso Park adds to the unique character of this golf destination, making each round a memorable experience.

Players can take advantage of daily green fee agreements, with rates set at €35 from Monday to Friday on non-holiday days. For those looking to play on holidays, the agreed 18-hole green fee is €60. These pricing options make ASD Golf Crema Resort accessible to a wide range of golf enthusiasts. This structure ensures that golf is available to locals and visitors alike, supporting both recreational and competitive play.

In summary, ASD Golf Crema Resort stands out not only for its length and technicality but also for its setting within the Moso Park. The combination of challenging water hazards and strategic hole layouts provides a comprehensive test for golfers. With accessible green fee pricing, it remains a popular choice for both casual and serious golfers in the region.

Categories
Highlights Tours

Qualification Process for 2025 European Ryder Cup Team

Qualification process for Team Europe at the Ryder Cup 2025. (Photo: Getty)
Qualification process for Team Europe at the Ryder Cup 2025. (Photo: Getty)

Ryder Cup Europe today confirmed the qualification process for the 2025 European Ryder Cup team which will defend the trophy against the United States at Bethpage in New York from September 26-28, 2025.

Ryder Cup Points List for Qualification

In a significant change from previous years – an alteration ratified by the DP World Tour’s Tournament Committee – there will be only one Ryder Cup Points List operational in the 2024/2025 qualification period, using points earned in accordance with a new tournament banding structure implemented by Ryder Cup Europe in consultation with Captain Luke Donald.

 The below table outlines the total points available at each tournament in each defined category.

Tournament CategoryPoints available
Major Championships5,000 points
2025 PGA TOUR Signature Events / The Players / FedExCup Playoffs3,000 points
DP World Tour Rolex Series Events2,000 points
2025 PGA TOUR Regular FedExCup Events2,000 points
DP World Tour ‘Back 9’ Events1,500 points
DP World Tour ‘Global Series’ Events1,000 points
2025 PGA TOUR ‘Opposite Field’ Events1,000 points

This represents an amalgamation of and a replacement for the two former lists utilised in previous qualification campaigns; ie: the World Points List (which was based on Official World Golf Ranking points accrued during the qualifying period) and the European Points List (which was based on Race to Dubai Ranking points accrued during the qualifying period).

Elements of the process which have not changed are:

  • To be eligible to be a member of the 2025 European Ryder Cup team, a player must (i) be European (defined in accordance with the IGF National policy) and (ii) be in membership of the DP World Tour.
  • The team will comprise the top six qualified players (from the new Ryder Cup Points List) and six Captain’s Picks.

The qualification process for the 2025 European Ryder Cup team will begin at the Betfred British Masters hosted by Sir Nick Faldo at The Belfry from August 29 – September 1, 2024 – a tournament host and venue synonymous with Ryder Cup success, the English venue having played host to two European triumphs (1985 and 2002) and a tied match in 1989 to retain the trophy; Faldo having played in both 1985 and 1989.

The qualification process will end at the DP World Tour tournament which concludes on Sunday August 24, 2025, a tournament which will be confirmed when the DP World Tour outlines its full 2025 schedule next month.

Other important points to note in relation to the qualifying process are as follows: 

  • In 2024, from the start of the qualifying campaign (August 29) through to the end of the calendar year, the only place to earn Ryder Cup points will be from events on the DP World Tour – ie: the Back 9, the DP World Tour Play-Offs and the Opening Swing events of the 2025 season.
  • Ryder Cup points will only be eligible to be earned in PGA TOUR events from January 1, 2025, until Sunday August 17, 2025.
  • No points will be allocated to any events scheduled against Rolex Series events (as per the 2023 qualification campaign) other than in the 2025 ISCO Championship on the PGA TOUR, played opposite the Genesis Scottish Open.
  • Points will be allocated to The Zurich Classic on the PGA TOUR with 50% of each position being allocated to each player in the team, but only if both players are European.

European Captain Luke Donald said: “I am delighted to be able to confirm the details of the qualification process for our 2025 Ryder Cup team. A lot of work has gone on behind the scenes to get to this point and everything is now focused on doing all we can to retain the trophy in New York next September.”

Guy Kinnings, CEO of PGA European Tour, the Managing Partner of Ryder Cup Europe LLP, said: “This is a major milestone moment in our journey to the 2025 Ryder Cup. This is without question a much cleaner and simpler qualification system than the ones utilised in previous years and we thank Luke and his Vice Captains Edoardo Molinari and Thomas Bjørn for their vital input over the past few months.”

(Text: Ryder Cup Europe)

Categories
Panorama

Video: Scary Moment during Crash Landing on the Practice Green

The plane came to a halt against the wall of the clubhouse. (Photo: X/@aviationbrk)
The plane came to a halt against the wall of the clubhouse. (Photo: X/@aviationbrk)

Unsuspectingly, an amateur golfer in Sacramento in the US state of California took his time for a short game on the practice green of the Arcade Creek Course in Haggin Oaks. Just as he approached his ball, a small plane sped towards him in the corner of his eye and narrowly missed him as he jumped a few meters to the side at the last moment. Within a few seconds, the plane hit the ground, came to a halt and gave the golfer a good shock.

Crash landing on the golf course due to technical failure

At an altitude of 400 feet, the technology of the small plane, in which only the pilot was in, failed, which is why the plane had to make an emergency landing. It finally reached the ground unbraked on the grounds of a golf course in Sacramento, where a golfer was playing his short game. The plane narrowly missed the golfer and finally came to a halt a few meters away against the wall of the clubhouse. Miraculously, both parties involved were largely unharmed. Only the pilot suffered cuts to his hand. A surveillance camera recorded the situation.

Categories
Ladies Tours

Olympics 2024: Charley Hull and Georgia Hall Represent UK

Charley Hull and Georgia Hall represent the UK at the Olympics 2024. (Photos: Getty)
Charley Hull and Georgia Hall represent the UK at the Olympics 2024. (Photos: Getty)

The golf qualification for the Olympics 2024 is complete. After the men’s qualification phase ended last Monday, the women’s participants have now also been decided. While Tommy Fleetwood and Matt Fitzpatrick represent the men, Charley Hull and Georgia Hall will compete in the women’s event. A look at the two female participants from the UK.

Live Scores of Golf at the Olympics 2024

Olympics 2024: Charley Hull and Georgia Hall form UK’s Olympic Duo

Charley Hull currently travels to Paris in eighth place in the world rankings (Rolex Rankings). After two second places on the Ladies European Tour and consistently good performances, the Englishwoman is currently in good form and can therefore hope for a top ranking at the Olympics 2024. Although the 28-year-old’s last victory was almost two years ago, four top-ten finishes this calendar year and a recent good shared 16th place at the KPMG Women’s PGA Championship confirm Hull’s form.

Hull is accompanied by Georgia Hall, who is also 28 years old. She is currently ranked 36th in the world and is currently struggling a little with her form. The Englishwoman has yet to secure a top ten finish this year and her best results were T12 at the Meijer LPGA Classic two weeks ago and the Aramco Ladies International. Georgia Hall celebrated the biggest success of her career in 2018 with a major victory at the Ricoh Women’s British Open.

All Tee Times for Women’s Golf at the Olympics 2024

Olympics 2024: Qualification Process and Criteria

The Olympic Golf Ranking (OGR) determines qualification for the 2024 Paris Olympics, scheduled from August 1-10 at Le Golf National in Saint-Quentin-en-Yvelines. The top 15 golfers in the OGR automatically qualify, with a maximum of four players per National Olympic Committee (NOC). Beyond the top 15, the highest-ranked players are selected until the 60-player field is complete, ensuring no more than two players per NOC unless they are within the top 15.

This image has an empty alt attribute; its file name is igf.jpg
The qualification criteria for the Olympic Golf Tournament. (Photo: IGF)

Tommy Fleetwood and Matt Fitzpatrick have secured their tickets for Paris in the men’s competition.

Categories
Ladies Tours

Olympics 2024: Korda, Vu and Zhang form US Olympic Trio

Nelly Korda, Rose Zhang and Lilia Vu represent the US at the Olympics 2024. (Photos: Getty)
Nelly Korda, Rose Zhang and Lilia Vu represent the US at the Olympics 2024. (Photos: Getty)

The golf qualification for the Olympics 2024 is complete. After the men’s qualification phase ended last Monday, the women’s participants have now also been decided. With Ally Ewing missing the Qualification for the first time since golf’s return to the Olympics in 2016, no country will send four players. A look at the female participants from the USA.

Live Scores of Golf at the Olympics 2024

Olympics 2024: Nelly Korda, Lilia Vu and Rose Zhang form Olympic Trio

The bitter failure of Ally Ewing means that the US women’s golf team will be represented three times at the Olympics 2024. The trio consists of world number one Nelly Korda, her direct rival Lilia Vu and ninth-placed Rose Zhang. Korda in particular has dominated this year on the LPGA Tour and has already won six of her ten tournaments. She has won five of them in a row. But Lilia Vu has nothing to hide either: She recently won the Meijer LPGA Classic and followed it up with a shared second place at the KPMG Women’s PGA Championship. Rose Zhang also secured a win on the LPGA Tour this year at the Cognizant Founders Cup.

The rankings in the world rankings alone make it clear that the USA will also be the big favorites at the Olympics 2024. The fact that only three women’s golfers are competing this year will not change this. What’s more, Nelly Korda has already won the Olympics 2020 in Tokyo and will travel to Paris full of confidence.

All Tee Times for Golf at the Olympics 2024

Ally Ewing narrowly misses out on the Olympics 2024 in Paris

Qualification for the Olympics 2024 was particularly bitter for Ally Ewing. The 31-year-old had to finish the KPMG Women’s PGA Championship in fifth place or better to qualify for the competition in Paris later in the summer. Near the end, Ewing was in a tie for second place and qualified, but over the next 90 minutes Lilia Vu, Jin Young Ko and Miyu Yamashita each birdied the 18th to get to four under, pushing Ewing into a tie for fifth place. The American thus narrowly missed out on 15th place in the world rankings, which would have qualified her for the Summer Games.

Olympics 2024: Qualification Process and Criteria

The Olympic Golf Ranking (OGR) determines qualification for the 2024 Paris Olympics, scheduled from August 1-10 at Le Golf National in Saint-Quentin-en-Yvelines. The top 15 golfers in the OGR automatically qualify, with a maximum of four players per National Olympic Committee (NOC). Beyond the top 15, the highest-ranked players are selected until the 60-player field is complete, ensuring no more than two players per NOC unless they are within the top 15.

This image has an empty alt attribute; its file name is igf.jpg
The qualification criteria for the Olympic Golf Tournament. (Photo: IGF)