Dorel reduces forecast

By Furniture Today Staff -- Furniture Today, February 2, 2003

Montreal — Ready-to-assemble furniture producer Dorel last week reduced its earnings forecast for fiscal 2003 to $2.36 per share, an 18% gain over 2002 but less than the $2.45 previously forecast.

Dorel, also a major producer of juvenile products, said acquisition of a French juvenile products company should add 15 to 20 cents per share to earnings in fiscal 2003. But the company said the latest round of store closings by Kmart would cost about 5 cents per share.

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