Topgolf Callaway to Review Spinning Off Driving-Range Chain

Topgolf Callaway Brands Corp. is conducting a strategic review of its Topgolf driving-range chain, including a potential spinoff, as it struggles to attract enough golfers to its venues.

“We have been disappointed in our stock performance for some time, as well as the more recent same venue sales performance,” Chief Executive Officer Chip Brewer said in a statement on Wednesday. “As a result, we are in the process of conducting a full strategic review of Topgolf.”