Nike Exiting Golf Club Business, to Focus on Footwear, Apparel | Golf News and Tour Information [Video]

Nike, the most valuable sports brand in the world, is stepping out of the golf equipment business.

A company press release indicated that Nike “will transition out of equipment—including clubs, balls and bags” to focus on footwear and apparel.

“We’re committed to being the undisputed leader in golf footwear and apparel,” said Trevor Edwards, president of Nike Brand in a company press release. Sources said layoffs were announced this afternoon. Several calls to Nike officials this afternoon were not returned, and the status of Nike’s club design headquarters in Fort Worth, Texas, called The Oven, was unknown.

Nike, which reported flat to down annual sales in its overall golf business the last two years at just north of $700 million in annual sales (which includes shoes and apparel), has been in the golf business since 1984, but only introduced its first clubs after bringing in Tom Stites and his independent …