Transcript for 500: Dick's Sporting Goods Drops In-Store PGA Pros
And you lose. It's Wednesday July 23. -- New York markets are opened for business and today's big number is 500. That's how many PGA golf pros. Laid off by Dick's Sporting Goods chain a further sign of the dramatic downturn in the popularity of golf in this country. Hello everyone I'm Michelle Franzen and New York with deet tails and the golf swing -- -- of Yahoo! finance. Good morning Lauren. You might sound first of -- give -- the details behind this decision from -- It dropped its golf -- -- it's still selling all the golf. Stopped. -- so here's the deal. Golf has been struggling people are not watching like they used to they are not playing like they used -- and Dick's Sporting Goods has really struggled as a result. Because they bat on ball they made quite an investment strategically -- bopping golf galaxy stores which are part of Baer and company and happened for several years. And said they've really been impacted by as saying and -- -- struggle with golf sales yes they still sell golf gear but they are taking floor space away from may as sales and it has fallen off a cliff they missed expectations. By 34 million dollars in the last quarter so that you know -- make any adjustments to their merchandise and accurate imagine and now they're laying off their golf pros you could actually get a -- from a golf pro in a Dick's Sporting Goods store golf galaxy store. And and obviously that was not worth the investment anymore as as golf's big interest in golf and people playing golf is just really declined but he can still kick off here. Today that six. Morning along with golf in the -- right now the bigger picture let's take a look at. Golf declining popularity according to the national golf foundation about 400000. -- years. Left the sport in 2013. Get an idea what's behind -- there. Gas and there are a number of different theories. There is a theory that golf -- suggest -- expected an elitist and even know there are deals you can get that it's. Perceived outweighed by the public and so that said barrier there's also -- the issue of time takes a long time to play. Eighteen holes of golf and -- people just simply don't have that these days particularly with. Broader trends like. Husbands fathers are spending more time doing housework and chores and so they -- at a time to get out on the golf course like -- be used to. You -- -- for -- today and -- -- by -- groups to say okay the people that time breaking -- so we're gonna make a campaign for nine holes of -- well guess what people. Still don't have time. For even back. In addition there's the Tiger Woods -- fact Tiger Woods was a phenomenon and some argue that there was more of a golf bubbles surrounding all of this excitement about hand. And then plagued by the scandals and then coming back to golf -- that poor performance issues and then also being out of the game with an injury. It that's one of the reasons why golf has suffered and he just to -- you and an indication of of one impact -- that said the masters this year TV ratings were down 30% from last year Tiger Woods is out with an injury now I know he was back in a British Open and very unclear if he can turn things around her he's more of -- I think has been but. -- Doesn't really take like another type of golf star to come around it sort of reinvigorate this sport easing. You know I'm not -- golfer some knocked in a place -- honor that you know I know there's worry not Arroyo who's kind of a young wonder kind in the golf world and and obviously generating but -- but. You we haven't seen signs of the turnaround at anything we've seen signs and continued decline. And continued struggle and in golf courses are closing more closing and are expected to open an -- -- -- -- Golf numbers continue to -- at the fifth consecutive year that fewer people are -- -- according to one survey. I you have the Dick's Sporting Goods that every other Major League and that's stating that it is just seen sales fall but -- worsen even expected walking. Even -- that they did expected decline we're seeing that they said that eight it's been even worse than anticipated -- -- the layoffs. So. Really the trend is going the wrong way but and now maybe someone can turnarounds. Always a silver lining cut kind of person so I would imagine that avid golfers those that are still. In the green will be able to find some good deals out there on the -- -- aperture. -- -- from Yahoo! finance thank you for joining us. Thank you of course can keep up with the latest headlines right here on abcnews.com. Even watching the big number on Michelle Franzen and -- your.
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