PGA Tour Superstore reported a record fiscal year in 2017. What's the secret?
A beleaguered golf industry could be on the rebound, as the PGA Tour Superstore announced its 2017 performance -- its best year yet at 23% overall sales growth and 15% same-store sales growth year-over-year.
On the heels of a record fiscal year, the golf giant, under the helm of CEO and President Dick Sullivan, is planning a massive expansion that will triple the store count across the U.S. and grow its brick-and-mortar business by 50% over the next three years. But what’s the company’s secret to success?
Sullivan identifies the interactive golf experience -- in which customers can try on clothing and attend putting practice -- as the main reason for the store’s success. In 2017 alone, the company provided more than 50,000 golf lessons, re-gripped more than 750,000 golf clubs and offered more than 100,000 custom club fittings.
“It’s totally different,” Sullivan told FOX Business’ Stuart Varney on Tuesday. “We’re so different than a retail store.”
PGA Tour Superstore is part of the Blank Family of Businesses, which includes the Atlanta Falcons, Atlanta United FC, AMB West, AMB Group and the Mercedes-Benz Stadium.
The company’s chairman, Arthur Blank, co-founded Home Depot (NYSE:HD), which implemented similar tactics as the PGA Tour Superstore, like offering clinics that taught children how to build birdhouses.
“We make it fun for kids, we make it fun for golfers,” Sullivan said. “We actually have leagues in our stores right now. People all over the country are playing in leagues, which is different than any retail store that I know of.”