BikeBiz Bicycle and cycling retail news
Halfords’ latest financials showed the retailer’s performance wasn’t immune to the protracted winter weather.
In the 11 weeks to March 29th 2013, cycle like-for-like revenue fell 8.8 per cent. In the full financial year revenue was largely static, dropping 0.7 per cent for cycling, like-for-like.
Backing the claim that the weather played a key part in cycling’s performance, the car maintenance side of Halfords’ business grew over ten per cent in the 11 weeks to March 29th and five per cent over the full financial year, like-for-like.
Halfords said premium cycle sales were resilient and online P&A and clothing sales increased by 26.5 per cent ahead of "the full scale online launch this year".
"This was a robust performance demonstrating how the balance of our business can offset some variations in the weather," said chief exec Matt Davies.
"Car Maintenance sales were strong as we helped motorists cope with the freezing conditions and this endorses our strategy of investment in our unique wefit offer. Cycling and Travel Solutions were impacted in the period but we have a strong offer ready for the spring and summer periods.
"We are focused on significantly improving the service we offer customers and this emphasis will be central to our future investments. I look forward to outlining our plans to secure sustainable revenue growth through our three-pillared strategy at our preliminary results on 23 May."
