By Dean Seal
Shares of Topgolf Callaway Brands fell after the company said it had completed the sale of its Jack Wolfskin outdoor apparel business to China's Anta Sports Products for $290 million.
The stock was down 5% at $6.02 in the afternoon trading session. Shares were changing hands at $15.65 this time a year ago.
The golf-club maker and driving-range operator said before the opening bell that the transaction closed on May 31 and marks a milestone for the company as it refocuses on its core businesses.
The sale also provides Topgolf Callaway with some financial flexibility as it prepares to separate its Topgolf subsidiary, the company said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
06-02-25 1458ET
