Dorel Industries sees continued quarter-over-quarter earnings improvement

“Our outlook at the end of the second quarter for continued quarter-over-quarter earnings improvement was valid for the third quarter and remains so going forward. At Dorel Juvenile, market share data confirms that we are gaining sales at the expense of the competition with our new, innovative product that is resonating well with consumers. While we are concerned by the economic environment in which we are operating, we remain focused on bringing winning products to the marketplace, partnering with our retail customers, and investing in e-commerce to ensure that the progress so far this year continues for the balance of 2023 and in to 2024,” commented Dorel President & CEO, Martin Schwartz. “While the results at Dorel Home are less positive, sales are improving across the year, and we are narrowing our losses. We are operating in a challenging environment, slowing the pace of our turnaround, but we expect to deliver an operating profit as soon as the fourth quarter of this year, setting the table for a much better performance in 2024,” concluded Mr. Schwartz.