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Golfsmith International Holdings Inc. posted net income of $2.8 million for the third quarter, a decrease from net income of $4 million in the prior year.
The golf equipment direct marketer reported net revenue $101.7 million for the quarter ended Sept. 27, a 4.5% decrease from $106.5 million last year.
The Austin, TX firm reported that net revenue from the direct channel decreased 11.6%.
“We had a good start to the third quarter as we made every effort to overcome the consumer headwinds by emphasizing our selling and service culture and through the tactical use of promotions,” said Martin Hanaka, CEO, in a statement. “However, sales trends slowed dramatically in September as the economic environment deteriorated.”
