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In The News: Acushnet, Mizuno and More

FootJoy Pro SL Carbon Boa.
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Acushnet Holdings, parent of the Titleist and FootJoy brands, says its golf bag/footwear inventories were down 12 percent on June 30 thanks to strong consumer demand for the last 10 to 12 weeks that has contributed to lower-than-anticipated promotional activity. Later in the same call with analysts last week, a senior executive said about half of a $40 million increase in quarter-end consolidated inventory was tied to FootJoy apparel and footwear caused by canceled golf tournaments and corporate outings.

Mizuno’s global first-quarter revenues declined 32 percent in Japanese yen to $270.5 million (¥28.7 billion) for the period ended June 30. The brand’s footwear revenues were $75.4 million (¥8.0 billion) with period apparel sales at $79.2 million (¥8.4 billion). The company did not specifically release U.S. sales figures for the quarter, but Americas’ revenues declined 3.5 percent in Japanese yen to $51.8 million (¥5.5 billion).

Burlington, VT-based snowboard company Burton has been accredited by the Fair Labor Association. The FLA’s accreditation recognizes Burton’s program to identify and remediate unfair labor practices in its global supply chain. The company manufactures in 72 factories in 10 countries around the world, including a prototyping facility in the U.S.