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: Quote) 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)