NYSE:CALYLeisure
Callaway Golf Refocuses On Core Equipment With Net Cash And Buybacks
Callaway Golf (NYSE:CALY) has refocused on its core golf equipment business by selling a majority stake in Topgolf and divesting Jack Wolfskin.
The company reports a reduction of $1b in debt and a move to a net cash position following these transactions.
Callaway Golf has also launched a $200m share repurchase program, signaling a shift in its approach to capital returns.
For investors tracking NYSE:CALY, the story is now centered squarely on golf equipment, not adjacent leisure or apparel...