CALY

Callaway Golf Company, known as Topgolf Callaway Brands following its merger with Topgolf, is a sports and entertainment company with brands across golf equipment, golf apparel, outdoor products, and golf entertainment venues. The company operates Callaway Golf and Odyssey golf equipment brands, TopGolf entertainment venues combining golf games with food and beverage, and owns TravisMathew and Jack Wolfskin apparel brands. Callaway manufactures and sells golf clubs, balls, and accessories sold through retail channels globally. TopGolf operates entertainment centers featuring technology-enabled golf gaming bays, restaurants, and social experiences. Founded in 1982 and headquartered in Carlsbad, California, Callaway completed its merger with TopGolf in 2021, significantly transforming the business. The company benefits from golf's popularity surge during COVID-19, TopGolf's experiential entertainment model, and brand strength. Callaway faces challenges including integrating TopGolf, managing high debt levels, normalizing golf equipment demand post-pandemic, and TopGolf venue profitability pressures. The company has experienced weaker golf equipment sales and TopGolf same-venue sales headwinds. Callaway continues to invest in TopGolf expansion, equipment innovation, and brand management.