Annual sales for TaylorMade-adidas Golf dropped 28 percent in 2014 according to earning statements released this week by the company.
The golf branch of the larger Adidas Group reported 913 million Euros in net sales last year, down from 1.285 billion Euros in 2013. The company also disclosed a 24 percent, currency-neutral drop during the fourth quarter of 2014, a decline attributed to "ongoing efforts to clean retail inventories and the timing of new product introductions compared to the prior year period."
TaylorMade had three different product cycles in 2013, and the company spent much of 2014 trying to better align its releases with consumer demand. While golf suffered losses, the overall Adidas Group reported a six percent increase in currency-neutral revenue last year.
"2014 was a year with ups and downs for the Adidas Group. But we tackled the challenges resolutely and achieved our adjusted top- and bottom-line targets," said Herbert Hainer, the group's CEO, as part of the release.