Ashworth golf apparel did not have the greatest 2007, but hopes to make 2008 much stronger.
Last week, the apparel company reported improved results for its fourth quarter, with revenues increasing by 8.9 percent. At the end of Q3 in 2007, Ashworth reported a loss of $3.5 million. The rocky time the company has had the past few years could be do to top management shake-ups and sluggish sales.
Newly appointed CEO, Allan Fletcher, made mention of the challenges facing the company in a press release, and said the golf brand needs a “complete turnaround that will take hard work and time, and may result in short-term peaks and valleys.”
Fletcher said Ashworth would continue to secure its brand by adding and improving product lines and cutting operating costs.
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