Dorel says bad weather slows bicycle sales

Thu Jun 13, 2013 9:24am EDT
 
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TORONTO (Reuters) - Dorel Industries Inc DIIb.TO warned on Thursday that earnings from its recreational unit will be weaker than expected as wet weather has slowed bicycle sales in the United States, Canada and Europe.

The Montreal-based company, which also makes strollers, car seats and home furnishings, said the bicycle market has also seen widespread discounting by competitors.

As a result of the weak sales in the first half of the year, Dorel said it no longer expects full-year earnings from the bicycle unit to top 2012 results.

(Reporting by Euan Rocha; editing by John Wallace)