Dorel's leisure division sees 7 per cent drop in Q1 revenue

Dorel Industries has been the owner of Pacific Cycle since February 2004.
Author:
Publish date:

According to a company statement, first quarter recreational evenue decreased 7 per cent to $77.2m compared to last year's$83.1m. Earnings from operations dropped 19.1 per cent to $7.1 from $8.7.

"The sales decrease was due to lower bicycle sales through the mass merchant channel where a major customer chose to reduce on-hand inventory levels, impacting orders in the first quarter. It is believed that this customer will return to more normal inventory levels," said the company statement.

Featured Jobs

frog bikes promo

R&D Manager

Frog Bikes I Ascot I Salary: £22k-£26k (depending on qualification and experience) I Date Published Tuesday 6th November 2018