Fortune Brands, Inc., parent company of Acushnet Company, reported company-wide net sales for the third quarter ended Sept. 30 were $1.92 million, down 10.4% from $2.15 million reported for the same period a year ago.
Acushnets golf sales fell 3.4% to $307.9 million from $318.6 million in the year ago period. Acushnet, which includes golf brands Titleist, Cobra and FootJoy, reported income for operations for the third quarter fiscal 2008 were $24 million, a 20.0% decline from $30 million reported for the year-ago period.
Management noted that for golf, double-digit sales gains for key Asia markets partly offset soft U.S. and European sales.
