WSJ: "For Golf, Covid Is Even Better Than Tiger"

There were some odd lines in this Jinjoo Lee and Spencer Jakab WSJ piece and it’s always uncomfortable to read about golf’s spike in play given the pandemic’s toll. (Thanks reader John for sending.)

After noting the stock price gains for Dick’s, Acushnet and Callaway, they write:

Sports-apparel and equipment giant Nike shocked many by exiting the golf business in 2016 and competitor Adidas sold off some brands the following year. Retailer Golfsmith declared bankruptcy in 2016. Between 2003 and 2017 the number of U.S. on-course players fell to fewer than 24 million, from nearly 31 million. Part of that was a “negative hangover” following the financial crisis that led to less business golf, says Randy Konik, an analyst at Jefferies.

But equipment sales began to rebound soon after. In 2019 the number of first-time U.S. players hit 2.5 million, exceeding the previous high of 2.4 million in 2000 when Tiger Woods was racking up trophies and inspiring young players. One reason is that more baby boomers have started taking up golf.

“People aren’t giving enough thought to how much of America is getting older,” says Mr. Konik. “Golf is the perfect sport for that part of the population.”

This was odd given, well Tiger’s back surgery last month but we get it.

A more recent boost for the sport comes from younger professionals now working remotely. Fitting in 18 holes on a weekday was once an expensive and time-consuming way to cultivate business contacts. More flexible schedules make hitting the links closer to home easier.

What could make golf’s recent upswing even better? The sort of excitement that Tiger Woods created in the late 1990s could be rekindled by some of the young players now on the scene, such as Dustin Johnson and Jon Rahm. Tiger himself is showing flashes of his old brilliance.