Dorel Industries CEO says Juvenile segment is ‘on track’

“The Dorel Juvenile segment is on track and we still expect our second half results to improve versus the first half. The new product launches thus far this year will drive higher revenues in the back half of the year, with the fourth quarter expected to be the strongest. While there is the risk of a slowing economy and we are facing higher supply chain costs, we believe we have the levers to offset these challenges and are confident that our strategic initiatives and focus on operational efficiency will continue to drive growth and deliver value for our stakeholders,” commented Dorel President & CEO, Martin Schwartz. “Despite not seeing an industry improvement, we are cautiously optimistic that we will deliver increased sales for Dorel Home in the second half. This is based on our new product pipeline and the success we are seeing at brick and mortar. With our focus on cost reduction, we anticipate improving gross margins and a much improved second half versus both first half results and last year’s comparative quarter. We continue to monitor the macro-environment and will make additional operational improvements and remain committed to delivering quality products and value to our customers,” concluded Mr. Schwartz.