Adidas considers options for golf business
August 6, 2015, 4:15 pm

German sportswear firm Adidas has appointed an investment bank to consider options for its struggling golf business.The news came as Adidas said second-quarter revenues at the golf unit were down 26% on a currency-adjusted basis from a year earlier.The firm said the review would look at at its Adams and Ashworth brands in particular.Adidas`s main golf brand is TaylorMade, which it bought in 1997.The Adams brand was bought in 2008 and Ashworth was added in 2012.Adidas`s golf business has struggled recently as the game`s popularity has declined, particularly in the US.The company said the golf unit had seen sales fall in most categories, but particularly in metalwoods and irons.Despite the poor performance at the golf business, Adidas said second-quarter sales rose to €3.9bn ($4.2bn; £2.7bn) overall, up 5% when currency movements were excluded.Net profit rose 1% to €146m.


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