Business
Dorel building for additional growth
Dorel building for additional growth
About this update from Dorel Industries Inc. Class A
[{"type":"text","content":"\n\n\n\n May 27, 2010 (Canada NewsWire Group) -- \n >\n\n\nMONTREAL, May 27 /CNW Telbec/ - Coming off a record first quarter, Dorel Industries Inc. (TSX: DII.B, DII.A) is intent on growing and has maintained the required investments for the future. Dorel President and CEO, Martin Schwartz, reported to shareholders today that the Company has remained committed to product development innovation, despite the recession. "This resulted in the introduction of a number of excellent new products in 2009 which has further strengthened our competitive position in our core Juvenile and Recreational/Leisure segments. This positions us well for the months ahead."\nMr. Schwartz noted that all three Company segments experienced significant increases during the most recent quarter, ended March 31, 2010. "In recent months we've seen improving sales momentum in our Juvenile segment both in North America and in Europe. We are maintaining, if not slightly growing market share due to our great products and our diversity of recognized brands. Dorel Europe has begun to benefit from the improving economies in most European countries as well as from the impact of successful new juvenile product launches."\n\nBike sales in high gear\n\nDorel's Recreational/Leisure segment also turned in a solid report card for the first three months. Bike sales were up US$20 million year-over-year, with significant improvement at the mass merchant level. The iconic Schwinn brand is currently being promoted through a national multi-million dollar advertising campaign. The Cycling Sport Group's (CSG) sales have also increased as new Cannondale models were enthusiastically received.\n"There is every indication that this momentum will continue over the next few months," commented Mr. Schwartz. "The Cannondale product is the best it's been in years and the results are clear. A record number of new dealers have been added since January, many in key US markets such as Los Angles, Northern California and Colorado. Another growth path is our new Apparel Footwear Group (AFG), which combines the branded apparel of SUGOI, Cannondale, GT, Schwinn, IronHorse and Mongoose, in both custom and its regular offerings. We've barely scratched the surface in the expanding custom market and expect to triple this business within 5 years."\nJust two weeks ...