Ashworth Inc. Reports Increased Market Share in 1999 From Darrell Survey Results.CARLSBAD Carlsbad, cities, United States Carlsbad (kärlz`băd). 1 City (1990 pop. 63,126), San Diego co., S Calif., on the Pacific coast; settled in the 1880s, inc. 1952. , Calif.--(BUSINESS WIRE)--Dec. 9, 1999-- Randall L. Herrel, Sr., president and chief executive officer of Ashworth Inc. (Nasdaq:ASHW), today announced Ashworth has increased its market share and leadership position over its competition based on the 1999 Darrell Survey results released this week. The Darrell Survey conducts a leading golf industry consumer usage survey. Ashworth increased its share to 11.4% in 1999 from 10.6% last year. Ashworth has continued to increase its market share over the last three years and is at its highest market share ever. The next three highest brands all declined in market share in 1999. "Ashworth is pleased that it has increased its market share and lead over our competition. Our strategies and authentic lifestyle brand are being well received by our consumers," said Herrel, Sr., president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Herrel continued, "We are also pleased with our customers' reaction to our new Spring/Summer 2000 line. This line utilizes high-tech fabrics and performance oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. coatings as well as new sportswear fashions that are designed for business casual sportswear and dressier occasions." Ashworth Inc. is a Southern California-based designer of men's and women's golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts and upscale department and specialty stores Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" . This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. related to the company's market position, finances, marketing plans and strategies. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the timely development and acceptance of new products, the impact of competitive products and pricing, the success of the women's and corporate divisions, the preliminary nature of bookings information, the ongoing risk of excess or obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. , potential inadequacy of booked reserves and other risks described in Ashworth Inc.'s SEC reports, including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Oct. 31, 1998. |
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