Nation’s largest specialty golf retailer sees a 22%-plus spike in sales
AUSTIN, TEXAS – September 20, 2010 – A new regulation governing the production of certain types of golf clubs is causing cash registers to ring. Golfers around the country are buying up the current style of wedges. The clubs will soon become scarce because of a recent “groove rule” change from the United States Golf Association (USGA). Golfsmith, the nation’s largest golf retailer, has seen an increase in year-to-date wedge sales of more than 20 percent over the same period a year ago.
“Golfsmith customers are stocking up on wedges, more than they ever have,” said Marty Hanaka, president and CEO of Golfsmith, which sells tens of thousands of new wedges every year. “The availability of the larger grooved golf clubs affected by the change is a big unknown so our customers are buying their favorite designs while the inventory is there because after year’s end those types of clubs won’t be made anymore.”
The USGA “groove rule” change means that the new grooves on clubs made beginning January 1, 2011 will have approximately 70% of the depth and size of grooves made today. Grooves on clubs function a lot like tread on car tires. The grooves help channel grass, sand and other debris away from the clubface allowing for better control and better shot performance. The new style, smaller grooved wedges will mean less spin on each shot. Golfsmith has a dedicated web site explaining all of the changes at www.golfsmith.com/grooves.
The new grooves have actually been in effect on the PGA Tour all year and have been a hot topic of discussion as many players have struggled to control their wedge shots especially out of the high rough in tournaments throughout the season. Amateur golfers have until 2014 to make the switch to the new grooves for USGA amateur tournaments. As of 2024, all golfers must switch to the new grooves for tracking their handicaps.
“Golfers are scooping up wedges as fast as they can,” said Ron Partridge, Vice President of Club Merchandising at Golfsmith. “Golfsmith’s wedge sales are up 22 percent for the first eight months of the year. The supply of these current high spin wedges will dry up over the next several months. While the wedges won’t be produced after 2010, amateurs can still use them for the next 14 years.”
Golf clubs with the new, Tour compliant grooves are already available today in Golfsmith stores and online at golfsmith.com. Golfsmith will continue to sell current grooved wedges until supplies are exhausted.
Timeline of Wedge Groove Changes
Grooves By The Numbers:
29 Million American play golf yearly
3 – Average number of wedges in a golf bag
$109 average cost/order value for a wedge at Golfsmith in 2010
Late 1800’s – first golf wedge played was the pitching wedge, also known as a “jigger”
1931- Sand Wedge was Invented by former golf pro and inventor Gene Sarazen
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About Golfsmith
Golfsmith International Holdings, Inc. (NASDAQ: GOLF), is a 42-year-old specialty retailer of golf and tennis equipment, apparel and accessories. The company operates as an integrated multi-channel retailer, offering its guests the convenience of shopping in more than 76 stores across the United States, through its Internet site and from its assortment of catalogs. Golfsmith offers an extensive product selection that features premier branded merchandise, as well as its proprietary products, clubmaking components and pre-owned clubs. Visit www.Golfsmith.com.
Cautionary Language – Certain statements made in this news release are forward-looking in nature and, accordingly, are subject to risks and uncertainties. These forward-looking statements are only predictions based on our current expectations and projections about future events. Important factors could cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Golfsmith ® is a registered trademark of Golfsmith International Holdings, Inc.
Contact:
Lynn Luczkowski
L2 Communications
860-313-1426
Lynn@L2comm.biz
Aubrey Haznar
L2 Communications
617-549-8792
Aubrey@L2comm.biz
Matt Corey
Golfsmith
512-821-4883
matt.corey@golfsmith.com
