Daily News
From Home Furnishing Business
Sales to E-Tailers Boosts Dorel’s 3Q Furniture Business
November 5,
2015 by in Financial Reports, Industry 
Sales to home furnishings e-tailers boosted Dorel Inds.’ (TSX: DII-A) (TSX: DII-B) to third quarter furniture sales by 13.5 percent for the quarter ended Sept. 30.
Third quarter home furnishings sales were $165.5 million, up from $145.8 million in the same quarter last year. The company said sales to brick and mortar retailers were flat, while sales to online retailers grew representing 37 percent of the category’s sales.
Year to date home furnishings sales for Dorel have climbed $78.8 million, or 19.6 percent to $481 million from $402.2 million in the same period in 2014.
"The fact that the segment has maintained brick and mortar sales at current levels is an important achievement given today's retail environment. This stability plus the exceptional progress in our online business is driving Home Furnishings success," said Martin Schwartz, president and CEO.
Overall, Dorel posted a net loss of $8.8 million for the third quarter compared to third quarter net income of $19.5 million last year.
The company’s complete earnings report is available online.