Stock of the Carlsbad-based golf manufacturer Callaway Golf “jumped 11.8” on Thursday January 17, 2008 when it was announced that announced a 10 percent gain in net sales to “$1.25 billion” for 2007, according to a story in BusinessWeek.
But that gain isn’t as impressive as it first appears when you consider that the stock’s value had dropped 20% over the past two weeks after a couple of golf retailers said that the momentum of sales in the category had slowed substantially, said James Hardiman, an analyst at FTN Midwest Research in Cleveland, Ohio.
Sadly, some of the gains the company has made have come from “shifting its manufacturing operations” away from Carlsbad to Massachusetts and other locations overseas.
[Link: BusinessWeek]
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