Halfords half-year results reveal 14% drop in cycle sales

Overall sales at Halfords increased by 6.9 percent to £272.1m but in today's half year results to 30th September the 14.2 percent drop in cycle sales was attributed to a "depressed market" (Halfords doesn't have Specialized, Trek or Giant - see their success stories from earlier in the week) and the absence of "a strong promotional programme this year".
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Operating profit increased by 24 percent to £22.2m. Underlying profit was up

by 8.5 percent.

Sales growth for Bikehut stores was 20.8 percent.

Despite the drop in cycle sales, Halfords claims "market shares in this category were maintained."

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