For those who haven't seen it yet.
http://www.prnewswire.com/news-relea...300327910.html
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For those who haven't seen it yet.
http://www.prnewswire.com/news-relea...300327910.html
One more nail...
So what will that mean for the 2 Ottawa locations, hard to say at this point I suppose but no doubt lots of nervous employees. Personally have never been a fan of the original Goldsmith/Golftown arrangement, their website is a disaster to navigate at times and it seems some of the clothing lines have diminished as well. All my own opinion of course.
They are going bankrupt I heard and closing all Canada locations?
Not closing all, but some will close. Not known which ones yet.
More here http://www.cbc.ca/news/business/golf...ents-1.3761467
This is another example of retail growth that was never necessary. Ottawa does not need 2 Golftown locations (and 3 if you count the Gatineau store). Our city is not that difficult to navigate, it is easy to get from Kanata to Orleans at night and on weekends or during non-rush hour times.
A centrally located GolfTown would be ideal for Ottawa.
My office is in Westboro and I can get to any of the three spots at lunch in less than 15 minutes.
In a business that is basically a seasonal industry there is no need for multiple locations here.
Sales for the Ottawa region would likely be the same or similar with one, 2 or 3 stores, so why waste money on all the rent and wages.
I live in the south end and it's 45min on a good day to the Kanata store. On a busy day it can be close to an hour. I'm about 20 minutes from Trainyards. If it were just Kanata, I'd almost never be there if I didn't have the odd meeting out that way. It's not really for us to decide if GT should have multiple locations, it's really up to them and if it makes business sense. I have no idea if it does or it doesn't as I am not privy to their revenues for their stores. More central would be nice for me, but there is a lot of analysis that goes into store locations based on demographics, lease costs, etc. It will be intersting to see if they close one or more of the locations here.
I wondered how long this would take ??????? The same thing happened in the ski industry years ago. Many high quality specialty shops for many years---along came mass merchandising--Arlington Sports---Collegiate Sports----specialty shops start to close---mass merchandiser with little or no interest in service---they start to shut down---and Voila Golf Town opens-------one store that has the capacity of all other stores put together times 3 !!! What is going on ????
Simple --marketing--marketing--marketing----are they making any money? Who knows !!! All these store are is an outlet for the importers of the golf equipment.................and don't try and say its not true----we little people will never know. Look at NBC--Golf Channel--Golf Now------it's one business and probably the PGA Superstores are also part of the package.
Remember when you used to be able to go in and dicker with the owner for a better price ? Those days are long gone.
Sorry guys---you talk about a monopoly---well here it is and no one wants to admit it.
The pricing in these stores is way out to lunch-------500.00 for a driver that is obsolete in 6 months---shirts for 95.00 that are out of fashion the next season ( that can be bought at Winners 6 months later for 20.00) (15.00 at Stienmart in the US) and again 2 stores with different names but are the same company TJX---------not TJ Max !!!!
Things are changing real fast------something like "dynamic pricing for green fees) unbelievable----glad I am as old as I am---won't be dealing with this **** 15 years from now :-)
My rant for today :-)
The ski industry has some similarities but there was never the same single retailer impact and there are still a number of specialty stores out there that have by and large gone away in golf.
As for your $500 driver being obselete, I am not sure that comment makes sense. It might be replaced by a newer model but the older one is far from obselete though the marketing depts of the golf companies would like you to think so.
And yes, it's close to being a monopoly, no one is really denying that - they've killed off most of the smaller shops.
I'm betting it will still exist when all is said and done - just fewer stores that hopefully are more profitable. Buying golfsmith was a mistake, they are heavily debt laiden which makes running a business difficult.
Fairfax will restructure the debt and will sell it to Hedge Fund like Bain Capital. Bain will bring the axe down. All these clowns see $$$. Golf is a dying game and no resuscitation will help. If they do not get the millennial, ethnic market and women it's a done deal. Expect lots of courses in U.S to shut down and turn into real estate holdings. The PGA players, PGA, USGA, RCGA, the elite golfers etc have done a great job and complicit in killing a fine sport.
Too bad we can't have Chuck Browns's and Missing Links back, just to name 2 that closed when GT came to town.
There will be new stores, new clubs and people are still doling out big bucks for the technology...That is a guarantee...
It was the people that made those stores. Replaced by the faceless big box.
Are there really 55 Golftowns in Canada? I think there are only a dozen Ikeas and 18 MEC locations... why 55 GTs???
Margins in golf are not great and knowing costs of doing business in this country I can see why they struggle.
Unfortunately golf is becoming a dying sport and the next generation is not picking up on it. Life has changed and people don’t want to spend the time or the money playing golf! Back in the 70’s/80’s my dad worked 5 days a week, once the weekend rolled in he had a tee time every Saturday and Sunday morning while mom stayed home with the kids. Now a day it doesn’t work that way, try to leave the wife alone with the kids while you go golfing with your buddies every weekend……GOOD LUCK …LOL!!!! Young couples/family does activities together and it’s not golf, why? Because it’s way too expensive!
Big corporation like Nike, Taylormade, Titleist……didn’t help the golf game with the massive 10, 20, 25 million dollars sponsorship they offered players, at the end of the line who ends up paying for those massive sponsorship's, we do, with overpriced clubs and overpriced apparels; $100 for a shirt and another $100 for shorts!?!?!?! Clubs I won’t even go there…..
Too bad, it’s a lovely sport but if nothing is done there will be consequences a few years down the road……..
PS: Apparently the Golf Town in Gatineau will be one of the stores that will be closing!
Rory McIlroy signs $200M deal with Nike and here is his famous quote.."'I don't play golf for the money, I am well past that.'
— Rory McIlroy
Here is the same clown when interviewed about Olympic golf and asked if he will watch it and his response was I would prefer to watch other sports. What a great selfish ambassador for the game.
I'm surprised we have not heard from Club links with financial problems. I'm predicting they will be next with financial problems. Maybe Morguard corporation is keeping them afloat
I think everyone that is crying about golf "dying" are over exaggerating just a bit.
I'll use hockey as a counter example. Think of the cost of equipment, sticks, skates, ice time, etc compared to a couple of decades ago. It has gone up tremendously as well. Is hockey dying? No.
Like every other industry that over builds and over spends the golf industry is going through a correction. When it is done there will still be golf courses and stores selling equipment for people who want to play.
JV, it's real just travel to the U.S. Sure there is growth in Asia. Hockey is not dying because Canadians are obsessive about it. Comparing hockey and golf is comparing apples to oranges! Just look at the number of new young soccer player in Canada.
Golf course openings in the United States remain at historically low levels, according to a new report by the National Golf Foundation. Measured in 18-hole equivalents, the NGF said that only 13.5 courses opened in 2012, while 154.5 courses closed. About one million net golfers are leaving the game!
http://www.macleans.ca/economy/busin...e-end-of-golf/
Golf IS NOT a dying sport---give me a break. The problem with the sport is the "over saturation of certain Markets" Myrtle Beach is one that definitely is and that has been seen in recent years. Hilton Head--has not had any closures---only 2 closures in southern Orlando area that I know of. Maybe here at home there may be a closure------soon but we have said this for the last 4 years.
Agree completely----too many "big box" stores ---as JV says there will be a correction---can't come soon enough :-)
I really don't know if you can use the USA as the benchmark for solid comparatives---------------those figures are always inflated and there has been some pretty glaring examples of poorly run "big business" in the US
BIG is not always better :-)
I play golf in the US a lot and it is doing just fine in areas where they have not overbuilt.
My analogy to hockey was that people say the cost of golf is killing it. Cost didn't kill hockey because as you say there are enough people who care about it.
The fact that there may be a net reduction in courses in the US makes perfect sense because they overbuilt so badly. When things were booming it was great for golfers to have so many choices but from the course owner's perspective, which is what the article you linked discusses, of course it is tough.
40% of all the Worlds golf courses are in the U.S.A, it's a great benchmark to use. Golf will go as the U.S will go. Asia is a big market but still in a very initial embroynic phase! 79 percent of the world's golf courses -- ranging from pitch-and-putts to 18-hole courses -- are located in the United States, Japan, Canada, England, Australia, Germany, France, Scotland, South Africa and Sweden.
The Japanese stock market Nikkei had a correction from the 35,000 point high in the 90's and still hasn't come back. If you are looking for a comeback in golf you will be disappointed sadly. Don't use your personal golf clubs and travel to gauge the decline of golf. Just go to any unbiased reporting agency, golf is on a slippery downhill slope!
There are lies, damn lies, and statistics.
My last two golf excursions to the US were to Bandon Dunes in April and Erin Hills last month.
I booked Bandon six months in advance and the tee sheet was already filling up. I booked Erin Hills at the last minute and even as a single it was tough to get the times I wanted.
There's no argument that a lot of golf courses in the US closed but that is largely due to the fact that a lot of them were tied to housing developments and we all know what happened to those in the US.
The point is that golf, like any other business, needs to be priced accordingly. It's not exempt from the laws of supply and demand.
I don't think Golf or hockey for that matter are dying. I do however think that both sports have become a luxury - a rich person's sport. I'm 37 years old. My first membership was at 11 years of age and the receipt shows it cost my grandparents $42 for the season. I used to play 18 in the morning, 18 in the afternoon and until sundown after dinner. Now, with 3 kids, I play significantly less while the cost is 100 x greater. I sacrifice in other areas to golf and hope to introduce our 3 kids, but we will need to make a choice when they come of age; either golf or hockey, not both like I played as a kid.
Actually hockey is a poor example because it is struggling to attract new young (male) players. While Canada still has the most registered hockey players, almost all the recent growth in the game has been due to girls Hockey. (The USA has more registered adult men players now than Canada). In Ontario the number of young boys entering hockey has actually declined.
There are significantly more young people player soccer in Canada than hockey. And all this while Canada's population is increasing.
I do understand there is more to this than just numbers and I honestly believe neither sport is dying but they are certainly both changing in terms of access and participation. It will be interesting to watch the next few years as the business adapts to new demands.
When Golftown first entered the Ottawa market it killed the local golf operators (Pro golf, Chuck Brown etc) as well as a lot of the on course retail sales. Yes, it was sad to see Chuck Brown fold, but was that because of Golftown, or because of not being able to react to the changing market...On course pro shops are now matching or beating Golftown prices...I know the Canadian for one, advertises this all the time. I am sure other shops do the same. They may not have the inventory on hand, but can order it for you and get it to you within a few days. When Golftown first opened, it was jammed to the rafters with inventory....now, these massive stores look bare as their inventory dwindles and cannot stock due to cash flow restrictions and having no payment terms with suppliers. The majority of cannot spend upwards of $400 to $500 for a driver every year or $1200 + for the latest and greatest irons. In my opinion what Golf town did to the competition when they first arrived in town have now done the same to themselves..not reacting to the changing market fast enough.
My 2 cents
no great loss except for the repair technicians... they do an awesome job !
game improvement sets on the wall are all 4 thru something.. who hits a 4 anymore.
with jacked lofts the're closer to a javelin.
another company will always fill the void as far as sales and staff.
Sports chek / Nevada bobs will increase their inventories and product lines
if demand is there.
Step 1 to fix golf here... Allow businesses to write off golf 100% !!!!!!!!!!!!!!!!!!!!!
I can dream right?
Yes that will make it for elite and gated. Just try buying tickets for a Maple leaf game! Golf has to more inclusive not exclusive for a few with $$$. That has been it's problems for years!