NIKE, THAT GOLIATH SPORTS BRAND, is dropping golf equipment, it said on Wednesday. Here's the announcement:
BEAVERTON, Ore. NIKE, Inc. (NYSE:NKE) announced today that it will accelerate innovation in its Golf footwear and apparel business and will partner with more of the world's best golfers. With this new focus, Nike Golf will transition out of equipment - including clubs, balls and bags.
"We're committed to being the undisputed leader in golf footwear and apparel," said Trevor Edwards, President, Nike Brand. "We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf.