Welcome to our dedicated page for Topgolf Callaway Brands news (Ticker: MODG), a resource for investors and traders seeking the latest updates and insights on Topgolf Callaway Brands stock.
Topgolf Callaway Brands Corp. (NYSE: MODG) is a leader in the modern golf and active lifestyle sector. The company creates premium golf equipment, provides world-class golf entertainment, and sells golf and active lifestyle apparel through its renowned brands, including Topgolf, Callaway Golf, Odyssey, TravisMathew, Jack Wolfskin, OGIO, and Toptracer. The company's core segments include Topgolf, which generates the majority of its revenue through service revenues from Topgolf venues and Toptracer technology, and Golf Equipment and Active Lifestyle.
Topgolf Callaway Brands is renowned for pushing the limits of performance and innovation, offering products designed to improve the game for golfers of all skill levels. Notably, the company recently announced stellar financial results for the fourth quarter of 2023, with a significant increase in consolidated revenue and Adjusted EBITDA. Their latest golf equipment line has received accolades from consumers and trade alike, further establishing their dominance in the market.
The company also made headlines with its digital transformation initiatives, including the launch of a new cross-brand consumer data platform. In addition, Topgolf has expanded its reach by opening new venues and acquiring the BigShots franchise, enhancing venue-level margins.
Despite potential economic challenges, Topgolf Callaway Brands remains optimistic about 2024, expecting further revenue growth and solid cash flow generation. Their strategic partnerships and focus on operational efficiencies are pivotal to their sustained success in the rapidly evolving golf and active lifestyle market.
Topgolf, the modern golf entertainment leader, has introduced The Sure Thing, a new golf club designed to make golf more accessible and enjoyable for novice players. Developed in collaboration with Callaway engineers, this club features an enormous club face, a 20° loft, and a shorter club shaft to increase the likelihood of hitting the ball solidly into the air.
The Sure Thing is not for sale and is exclusively available for gameplay at Topgolf venues in the United States. Topgolf CEO Artie Starrs emphasized that the club's purpose is to bring joy through more ways to play golf and help new players experience the thrill of hitting a solid shot. The company playfully mentions its proprietary 'chicken wing technology' as a unique feature of the club.
Topgolf Callaway Brands Corp. (NYSE: MODG) has announced the upcoming release of its second quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day to discuss the results, business performance, and future outlook.
Investors and interested parties can access a live webcast and presentation through the Investor Relations section of the company's website at https://www.topgolfcallawaybrands.com. A replay of the event will be available online approximately two hours after its conclusion.
Callaway Staff Professional Xander Schauffele won his 2nd major of the year at The Open Championship, becoming the Champion Golfer of the Year. Schauffele carded a final round 65 at Royal Troon, using Callaway equipment including an Ai Smoke Triple Diamond Driver, Apex TCB Irons, and a Chrome Tour Golf Ball. This victory marks the 3rd major win for Callaway's Ai Smoke Triple Diamond Drivers and Chrome Tour Golf Ball family in 2024. Schauffele, who joined Callaway's Staff in 2018, is now ranked #2 in the Official World Golf Rankings. Chip Brewer, President & CEO of Topgolf Callaway Brands, expressed pride in Schauffele's rare achievement of winning multiple majors in a year.
Topgolf, a modern golf entertainment leader, has appointed Erin Chamberlin as its new Chief Operating Officer, effective July 22. Chamberlin joins from PENN Entertainment Inc., where she served as Senior Vice President of Regional Operations. In her new role, she will oversee Topgolf's globally owned and operated venue experience, including Player experience, operational excellence, technology, food and beverage innovation, and supply chain operations.
Chamberlin brings over 20 years of experience in operating large, consumer-facing organizations in competitive markets. At PENN, she managed nine casinos, supervised horse racing operations, and chaired the PENN Women resource group. Her previous roles include leadership positions at Caesars Entertainment properties.
Topgolf CEO Artie Starrs expressed confidence in Chamberlin's expertise and alignment with the brand's playful spirit. Chamberlin, a Topgolf Player herself, looks forward to applying her gaming entertainment experience to the modern golf space.
Callaway Golf has unveiled its new Opus and Opus Platinum Wedges, featuring innovative Spin Gen Face Technology. This technology combines a tighter groove pitch, offset groove-in-groove design, and aggressive face blast to deliver exceptional spin and control. The wedges boast Tour-validated shapes with a higher toe peak, radius in the leading edge, and easier hosel transitions.
Opus Wedges offer various sole shapes and grinds, including S, W, C, and T grinds. They come in Brushed Chrome and Black Shadow finishes, with a raw version available for custom orders. Opus Wedges will be available from July 26th at $179.99 each.
The Opus Platinum Wedges, available from August 16th at $229.99 each, feature metal injection molding (MiM) construction and tungsten in the topline for improved launch control and feel.
Topgolf Callaway Brands Corp. (NYSE: MODG) has announced a multiyear strategic agreement with Visa. This partnership covers Topgolf, Callaway, and TravisMathew brands, offering co-promotional opportunities and cardholder benefits, starting with select Cash App Card offers this summer. The collaboration aims to enhance the digital experience for over 24 million U.S. Cash App cardholders, providing gameplay offers, early reservation access, co-branded sponsorships, and exclusive event invites. Additionally, the Topgolf Block Party Challenge, presented by Cash App, runs from June 10 to July 31, with a $50,000 prize. A co-branded credit card with Visa offering exclusive benefits will launch in a few years.
On June 6, 2024, Special Olympics and Topgolf announced their collaboration for the Unified Fore Joy ProAm event, scheduled for September 27. This inclusive golf fundraiser will take place at 31 Topgolf venues across the US and UK, aiming to support Special Olympics programs. Six-person teams can now register to participate. Topgolf will also continue its annual Giving Season from August 1 to September 30, featuring campaigns and special events like LETR Tip-A-Cop® to raise further funds. This partnership marks Topgolf as a sanctioned Special Olympics event, featuring both individual and Unified Sports® team competitions.
Topgolf has launched a new iteration of its 'Come Play Around' campaign on June 6, 2024, featuring quirky puppet announcers, Chaz Mulligan and Birdie Baker, created in collaboration with Jim Henson's Creature Shop. This campaign, developed with Topgolf's agency Anomaly, aims to highlight Topgolf's value offers and summer promotions in a fun, relatable manner.
The campaign's main 30-second spot showcases the 'Free:30' promotion, giving players an extra 30 minutes of game play on weekdays when they book a reservation. Additionally, Chaz and Birdie will promote Topgolf's new game, 'Block Party,' through various digital, audio, and broadcast channels.
The 'Come Play Around' campaign began in 2022, focusing on player inclusivity and experiences at Topgolf. The 2023 sequel emphasized the diverse emotions players feel at Topgolf. The 2024 campaign continues this theme with Chaz and Birdie bringing a playful tone to highlight special offers and new games.
Topgolf is launching a summer campaign with several exciting offers for players. Key features include Free:30, offering 30 minutes of free gameplay with every reservation on weekdays, and the Block Party Challenge with a $50,000 grand prize. Players can enjoy free ice cream and PepsiCo beverages from the Ice Cream Delivery Truck, which will tour select venues starting June 16. Fathers can benefit from special Father's Day offers, including discounted golf gloves and bonus gift cards. -time menu items will be available, featuring unique beverages and food options. The promotions aim to enhance the player experience throughout the summer.
SCORE Sports has appointed Joe Flannery as its new Chief Executive Officer. Flannery, who was previously Executive Vice President at Topgolf Callaway Brands (NYSE: MODG), brings over three decades of experience from prominent companies including Adidas and Nike.
Outgoing CEO Kevin Mahoney will stay on temporarily for a smooth transition. Mahoney, who joined SCORE Sports in 2019, helped the company navigate the pandemic and achieve unprecedented revenue growth.
The announcement comes as SCORE Sports relocates its headquarters to Torrance, California, and forms new partnerships with Babe Ruth League Softball and GoFundMe.
FAQ
What is the current stock price of Topgolf Callaway Brands (MODG)?
What is the market cap of Topgolf Callaway Brands (MODG)?
What is Topgolf Callaway Brands Corp.?
What are the core segments of Topgolf Callaway Brands?
Which brands are part of Topgolf Callaway Brands?
What recent achievements has Topgolf Callaway Brands announced?
What are the expectations for Topgolf Callaway Brands in 2024?
How has Topgolf Callaway Brands performed financially recently?
What strategic initiatives is Topgolf Callaway Brands focusing on?
Where is the majority of Topgolf Callaway Brands' revenue derived from?
What is 'Modern Golf' according to Topgolf Callaway Brands?
How can investors get in touch with Topgolf Callaway Brands?
