Nike retreats from golf equipment industry

Nike Golf announced Wednesday that it plans to "transition out" of golf equipment, instead focusing wholly on its footwear and apparel business.
No specified schedule for the transition was announced. The decision means that Nike will soon stop producing clubs, balls and golf bags.

"We're committed to being the undisputed leader in golf footwear and apparel," Nike brand president Trevor Edwards said in a statement. "We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf."

Last month Nike announced that golf sales fell 8.2 percent to $706 million for the fiscal year that ended May 31, making it the lowest-performing business segment of the company over that time period.

While Woods has been the brand's most notable representative for the past two decades, he hasn't hit a competitive shot in nearly a year while recovering from his multiple back injuries. In addition to Woods and McIlroy, other notable pros currently using Nike equipment includes Michelle Wie, Suzann Pettersen, Brooks Koepka, Tony Finau, Russell Henley, Paul Casey and Jhonattan Vegas.