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Article Date: March 2019
Word Count: 244

Dorel Sports Has Loss on Huge Impairment Charge


The operating loss in the sports group was $232,084,000 against income of $6,545,000 for the final quarter ended Dec. 30 on a 2% sales decline to $232,686,000 from $236,771,000 that saw a 130 b.p. deterioration in gross margin to 20.7% as well as some $237.2 million of a total $501.4 million in impairment charges that the company took. For the year, the sports group had an operating loss of $229,147,000 against income of $21,763,000 on sales of $883,006,000, up 2% from $865,380,000. With a massive writedown in the juvenile division as well, Dorel reported a loss for the year of ... Log in to view full article.

 


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