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Halfords earnings on track
Halfords saw a 9.6% rise in group revenue from 3 April to 26 July, helped by its acquisition of Nationwide Autocentres in February
Like for like sales at its Halfords stores fell 2.1% while revenue at its Autocentres was flat. Overall group like-for-like revenue declined 1.9%.
David Wild, CEO, commented: 'The resilience of the Halfords business model is confirmed by further like-for-like growth in our core categories despite the consumer headwinds experienced across the retail sector. Our focus remains on managing the controllable elements of the business. Actions taken to manage gross margins, reduce costs and increase efficiency, are delivering the benefits we expected. The integration of Nationwide is continuing well and I remain pleased with early performance and progress."
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