BikeBiz Bicycle and cycling retail news
Despite the improving performance of Autocentres and strong cycle sales, Halfords has posted a slight decline in sales, declining by 1.2 per cent during the last six months and by 1.9 per cent on a like-for-like basis.
According to a statement on the corporate website, like for like cycling sales were up 5.7 per cent, likely boosted by the launch of the new range of Carrera in July.
Group pre-tax profits for the year are expected to fall in the region of £53 to 55 million.
David Wild, chief executive, said: "The tough consumer environment which particularly affects motorists is continuing to influence spending patterns. We are taking constructive steps to protect our sales and profitability by delivering real value and service to our customers.
"There are clear signs that this strategy has had a positive impact in our stores through the summer and we are particularly pleased with the growth in cycles and fitting services.
"Our autocentres have shown impressive revenue growth, counter to the trend in the sector. This demonstrates how the Halfords brand is gaining traction in aftercare and justifies the long-term investments we are making."
