Buying at Golfsmith Versus Buying Golfsmith

Buying at Golfsmith Versus Buying Golfsmith

Post by double_enten.. » Fri, 24 Mar 2006 04:48:07


Does this force Dark Siders to invest in the company to retain their
status as Dark Siders?  Haven't seen this posted yet.

Source:
http://SportToday.org/

Golfsmith seeks $115M IPO
Austin Business Journal - March 14, 2006
Golfsmith International Holdings Inc. filed Tuesday for an initial
public offering of its common stock.

The Austin company hopes to raise $115 million through its IPO on the
NASDAQ National Market, according to a filing with the U.S. Securities
and Exchange Commission. The proposed ticker symbol is "GOLF."

Golfsmith didn't specify the number of shares to be sold or estimate a
price per share.

The company plans to use proceeds from the stock offering to pay off
some of its debt, including about $93 million of its senior notes; pay
off a credit line of $5.8 million; and pay a $3 million fee to cancel
its management consulting agreement with First Atlantic Capital Ltd.

In 2005, Golfsmith posted revenue of $324 million and operating income
of $14.7 million. As of December, the retailer operated 52 stores, with
plans for 10 to 12 more locations in 2006 and 14 to 16 in 2007.

Founded in 1967, Golfsmith is a retailer of golf equipment, apparel and
accessories. Atlantic Equity Partners III LP, a fund operated by New
York private equity firm First Atlantic Capital, is the majority owner
of Golfsmith.

Merrill *** & Co., JPMorgan Securities Inc., Lazard Capital Markets
LLC and Fenner & Smith Inc. are underwriters of the IPO.

Recently, Golfsmith has undertaken several initiatives to expand its
market share, including the addition of tennis products and the launch
of a catalog called Drive targeting female golfers.

Golfsmith's IPO filing comes after its chief rival, Golf Galaxy Inc.
(NASDAQ: GGXY) of Eden Prairie, Minn., went public last July.

Bob
Rancho Cucamonga, CA

 
 
 

Buying at Golfsmith Versus Buying Golfsmith

Post by dugjustdu » Fri, 24 Mar 2006 05:51:10

Quote:
>Recently, Golfsmith has undertaken several initiatives to expand its
>market share, including the addition of tennis products and the launch
>of a catalog called Drive targeting female golfers.

Hrm...  I have a "Drive" for one certain "female golfer".

Heh, heh.  Heh, heh, heh.

 
 
 

Buying at Golfsmith Versus Buying Golfsmith

Post by double_enten.. » Fri, 24 Mar 2006 08:47:28

Quote:

> >Recently, Golfsmith has undertaken several initiatives to expand its
> >market share, including the addition of tennis products and the launch
> >of a catalog called Drive targeting female golfers.

> Hrm...  I have a "Drive" for one certain "female golfer".

> Heh, heh.  Heh, heh, heh.

I'm sure.  As in, "Bend over; I'll drive?"  LOL

Bob
Rancho Cucamonga, CA

 
 
 

Buying at Golfsmith Versus Buying Golfsmith

Post by skew » Fri, 24 Mar 2006 22:35:25

Seems like a good move for them.

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Buying at Golfsmith Versus Buying Golfsmith

Post by DJD » Sat, 25 Mar 2006 00:34:34

Quote:

> Does this force Dark Siders to invest in the company to retain their
> status as Dark Siders?  Haven't seen this posted yet.

<snipped>

No. IMO Golfsmith is the one losing their Darkside credentials, I think
  they have gone seriously downhill as a component company. The
departure of Tom Wishon and the acquisition of the Don Sherwood Golf &
Tennis World stores split their focus 3 or even 4 ways. Whereas they had
been primarily an on-line component golf equipment company, they are now
an on-line and B&M sporting goods retailer who happens to sell some golf
club components. They have become a big retailer of OEM equipment and
are now also into tennis. If you walk into a Golfsmith store here in
California you'll see that the OEM golf equipment and tennis sections of
the store are much bigger than the component golf section and the
component section seems to keep getting smaller.  Frankly, the golf side
of the business is starting to look a lot like Nevada Bob's.

--
Dan Driscoll
RSG FAQ: http://ttsoft.com/thor/rsggolf.html

"They that can give up essential liberty to obtain a little temporary
safety deserve neither liberty nor safety." --Benjamin Franklin

 
 
 

Buying at Golfsmith Versus Buying Golfsmith

Post by Mike Daleck » Sat, 25 Mar 2006 00:49:10

Quote:


>> Does this force Dark Siders to invest in the company to retain their
>> status as Dark Siders?  Haven't seen this posted yet.

> <snipped>

> No. IMO Golfsmith is the one losing their Darkside credentials, I think
>  they have gone seriously downhill as a component company. The departure
> of Tom Wishon and the acquisition of the Don Sherwood Golf & Tennis
> World stores split their focus 3 or even 4 ways. Whereas they had been
> primarily an on-line component golf equipment company, they are now an
> on-line and B&M sporting goods retailer who happens to sell some golf
> club components. They have become a big retailer of OEM equipment and
> are now also into tennis. If you walk into a Golfsmith store here in
> California you'll see that the OEM golf equipment and tennis sections of
> the store are much bigger than the component golf section and the
> component section seems to keep getting smaller.  Frankly, the golf side
> of the business is starting to look a lot like Nevada Bob's.

Last year when I was in Columbus I had the opportunity to visit the
Golfsmith store there.  I was really looking forward to that, as you
might imagine.

I was shocked at how little clubmaking stock they had at the store.  Two
very short aisles of some tools, epoxy, grip tape, and the like.  I
thought I'd be able to look at display after display of heads, shafts,
grips, and so on.

But they had tons of OEM stuff, and some of their own stuff made up.
Very disappointing.

I won't be back.  I still order stuff from their online site from time
to time, but I agree, Dan:  They've really redirected their approach.

Mike

--
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Mike Dalecki     GCA Accredited Clubmaker    http://clubdoctor.com
RSG-Wisconsin 2006:  June 23-25    Info:  http://dalecki.net/rsgwis2006/
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