NIKE EXITING GOLF EQUIPMENT BUSINESS

Nike has just announced that it's leaving the golf equipment space.

Earlier indications were that the company would stick around for at least another year, but's clearly not the case.

Here's the full statement from news.nike.com.

More details to follow soon.

NIKE FOCUSES GOLF INNOVATION ON FOOTWEAR AND APPAREL, TRANSITIONS OUT OF EQUIPMENT

NIKE, Inc. 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,” says Trevor Edwards, President, Nike Brand. “We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf.”

“Athletes like Tiger, Rory and Michelle drive tremendous energy for the game and inspire consumers worldwide,” says Daric Ashford, President of Nike Golf. “Over the past year the MM Fly Blade Polo, the Flyknit Chukka and Air Zoom 90 have all connected strongly with golfers. We’ll continue to ignite excitement with our athletes and deliver the best of Nike for the game.”