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Article Date: May 2020
Word Count: 169

Dorel Sports Swings to Loss on Covid-19 Costs


Dorel’s Sports segment had an operating loss of $611,000 in the first quarter against a profit of $4,501,000 on 2% higher revenues of $188,188,000 up from $184,544,000 driven by gains at Cycling Sports Group and Pacific Cycle, but Caloi was down. A rush to buy bicycles as the Covid-19 stay-at-home orders were imposed in mid-Mar. benefitted Pacific Cycle, but Caloi sales in Brazil dropped due to price increases to combat the falling real. The coronavirus cost about $6 million in total, Dorel estimates, due to ... Log in to view full article.

 


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