Today in Retail: Callaway Golf Embraces Technology
Today in retail, Callaway is adding technology and entertainment capabilities to its golf equipment and apparel expertise as Under Armor shoppers return to stores. Additionally, anticipation is building for Walmart’s upcoming fourth quarter earnings report and Central Retail announces a $3 billion spending plan that includes adding new stores and increasing usage of technology.
Under Armour’s D2C business moves from web to stores
Sports footwear and apparel maker Under Armor said Friday (February 11) that its direct-to-consumer (D2C) revenue grew 10% in the fourth quarter of 2021 as consumers returned to in-store shopping after being largely unable to do so. in 2020.
This led to slower growth in the company’s e-commerce activity, which fell to 4% for the three months ending December 31, accounting for 42% of total D2C activity.
Central Retail, the new Thai owner of Selfridges, announces an additional $3 billion spending plan
Thai department store operator Central Retail, the retail subsidiary of Central Group, announced earlier this week that it would spend $3 billion on the expansion and renovation of the store network as well as the implementation of new technologies in its three geographic markets.
Technology upgrades will include the implementation of live streaming, cryptocurrency payments, non-fungible token (NFT) selling, gamification, Internet of Things (IoT) and metaverse .
Callaway is now a ‘tech-driven golf, lifestyle apparel and entertainment company’
On Thursday, February 10, Callaway Golf Company President and CEO Chip Brewer called 2021 a “pivotal year” for his company, marked not only by the acquisition of Topgolf in the first quarter of the year, but also by a complete transformation of the way it does business and where it focuses.
Callaway’s fourth quarter results were “better than expected,” Brewer said during the company’s quarterly and annual earnings conference call with investors, Topgolf and “continued strong demand” for golf equipment and with lifestyle apparel and gear largely responsible for 90% year over year. annual jump in net sales to $712 million.
AMZN vs. WMT Weekly: Wait for the gains, bet on the health
Walmart’s fourth-quarter earnings report will be out next week, and the company will likely announce new strategic plans to keep customers coming back to its stores and website, rather than spending their money at rival Amazon or somewhere else. Health care will likely be part of the mix, as Walmart watches Amazon’s recent moves in this area.
Amazon, like many others, is betting that telemedicine is not just here to stay, but represents a business opportunity. To that end, the online retail giant is expanding the Amazon Care telehealth service nationwide with virtual care visits, free telehealth consultations and paid home visits from nurses for testing and vaccinations. Amazon is also adding in-person services in more than 20 cities this year.