Strong U.S. dollar softens Dorel Sports’ revenue

By Stephen Frothingham

Challenging currency rates, sluggish fourth-quarter sales hurt profits.

MONTREAL (BRAIN) — Dorel Industries reported that its bike business, Dorel Sports, saw revenues drop by $6.4 million or 2.5 percent to $253 million in the fourth quarter of 2015. Removing the impact of foreign exchange rates, organic revenue was up about 3 percent, the company said.

Dorel Sports brands include Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse and Sugoi.

For the full year, bike revenue dropped $53 million or …read more

Via:: Bicycle Retailer and Industry News