Dorel Reports Sharply Deteriorating Results

MONTREAL, Canada – Dorel’s Sports segment, including the brands Cannondale, Schwinn, Mongoose, GT, Caloi, and Sugoi, continues to put heavy pressure on the Group’s results. For Dorel Sports the Q1-3 operating profit of US$2.47 million (2.23 million euro) in 2015 turned into a US$38.9 million (35.2 million euro) loss this year.
‘Purchasing patterns of US IBDs are changing significantly,’ said Dorel President and CEO Martin Schwartz at the presentation of third quarter results. – Photo Bike Europe