BikeBiz Bicycle and cycling retail news
Halfords’ shares bordered a two year low this weekend and experts are forecasting the retail giant’s recent decline could only just be beginning.
A sharp dip in value this month has current share price sat at around 380.73, substantially below its August 2015 high of 563.51.
On the back of like for like cycling revenue decline of 11 per cent in Q2, newly appointed chief executive Jill McDonald said at the time: "This recent weakness in our Cycling sales is disappointing, but it comes after two years of very strong growth in the category and has been partly offset by strong growth in both Car Maintenance and Car Enhancement sales, which is a testament to the balanced nature of the business."
Analysts with Liberium Capital have indicated a further slump is expected and by as much as 21.4%, according to Director’s Talk.
