The company operates across North America, East and South Asia, Europe, Oceania, Israel, and South America. 13.7%. Dorel Industries earned a coverage optimism score of -1.4 on InfoTrie's scale. DII.B. The Montreal based company hasn’t seen price levels like this since the mid 1990’s, and third quarter results are expected to be far below analyst estimates. Industry News. 24.1%. $4.40. In an industry plagued with misinformation, our main priority is to maintain complete objectivity and bring investors around the world accurate, timely and high quality investment news and information.Investors love dividends, and as such a stock is prone to a massive downswing in the event the dividend is cut. Dorel makes Schwinn and GT bicycles and other sports gear; home-furnishing brands such as Ameriwood Home and Dorel Living; and baby-goods brands such as Safety 1st and Maxi-Cosi. “The commentary, however, indicates that the [third-quarter] results are likely to be well below our prior expectations given the headwinds noted across the company’s three segments.”Dorel does not disclose how much of its production is sourced in China, but the company said the tariff, raised to 25 per cent in May, “is having a much greater impact on the business than the original implementation of 10 per cent introduced a year ago." “It is prudent to suspend the dividend until the chaotic market conditions created by tariffs are normalized,” concluded Dorel President & CEO, Martin Schwartz.Dorel will announce third quarter results on November 8, 2019.Dorel further announced that it has amended its senior secured revolving credit facilities and term loan. We raised prices midway through the third quarter and this has had several negative consequences. Some information in it may no longer be current.Audio for this article is not available at this time.Higher U.S. tariffs on Chinese imports have created “chaotic market conditions” for manufacturers that supply retail stores, Montreal-based Dorel Industries Inc. said Tuesday as it announced it would stop paying its dividend to shareholders.Dorel raised its prices this summer to cope with the higher tariffs, but some competing manufacturers as well as some retailers hesitated to raise prices to the same extent, or on the same schedule, Dorel CEO Martin Schwartz said in the statement. The company can be reached via phone at +1-514-9343034.Dorel Industries does not have a long track record of dividend growth.Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:In the past three months, Dorel Industries insiders have sold more of their company's stock than they have bought. DII.B. 0.4%. Although sales have remained strong, the mix has been negative, and gross margins are lower. Some U.S. retailers have warned consumers should expect higher prices, while others have vowed to resist any price increases sought by suppliers.This article was published more than 6 months ago. The amendment is intended to facilitate compliance by Dorel with its financial covenants under the credit facilities.Another factor affecting the third quarter is that some of Dorel’s large U.S. customers have delayed Christmas 2019 deliveries to the beginning of the fourth quarter. Sales in the independent bicycle dealer (IBD) and Sporting Goods channels have remained strong and the outlook remains positive.“The impact of the increase on Dorel businesses was still unclear at the end of the second quarter. CA Consumer Durables-7.7%. Dorel will report results next Tuesday.When you subscribe to globeandmail.com, you get access to:The news highlights the growing struggles facing consumer-goods suppliers and retailers as the U.S. tariffs ripple through manufacturing and distribution chains. 6/3/2020 Montreal, Quebec The net result of these challenges is that Dorel Home’s expected gross margin improvement from first half levels will be delayed to the beginning of 2020,” explained Dorel President & CEO, Martin Schwartz.Designed by MaisonBrison Communications Inc.Dorel Industries Inc. (TSX: DII.B; DII.A) today announced that the impact of increased U.S. imposed tariffs as well as a review of the preliminary third quarter results have prompted Dorel’s Board of Directors to suspend its dividend. …
industry group the National Retail Federation has criticized the tariffs imposed by the Trump administration.The value of quality journalism© Copyright 2020 The Globe and Mail Inc. All rights reserved.Many industries moved up their purchases of Chinese-sourced products at the end of last year, in anticipation of higher tariffs. Where prices did rise, some customers chose different products.