Nike to stop making golf equipment in latest blow to the sport
Interest in golf has slumped in recent years, especially among many millennials.
Nike Inc., the world's largest maker of sporting goods, will stop selling golf equipment, striking another blow to a pastime hurt by slowing participation rates.
The company will shift away from golf clubs, balls and bags, but it will continue selling footwear and apparel for the sport, according to a statement Wednesday.
Sales at the Nike Golf division fell 8.2 percent to $706 million in the fiscal year that ended in May, making it the company's worst performing major category.
The Beaverton, Oregon-based company said it will continue to innovate in apparel and shoes.
Tiger Woods, one of the sport's biggest stars, uses Nike equipment and the company sells a clothing line under his name.
But interest in golf has slumped in recent years, especially among many millennials.
"We're committed to being the undisputed leader in golf footwear and apparel," said Trevor Edwards, president of the Nike brand.
"We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf."
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