Halfords’ full year profits on track
Car parts and cycle retailer Halfords saw its group like-for-like sales increase by 2.6% in its fourth quarter.
In the 11 weeks to 1 April, retail like-for-like sales rose by 3.1%. During the period, the cycling category achieved a second consecutive quarter of growth for bike sales although this was offset by a small decline in parts, accessories and clothing sales.
Meanwhile, like-for-like sales in Halfords’ autocentres edged up 1.7% in the period to mark the business’s tenth consecutive quarter of like-for-like growth.
Jill McDonald, Halfords chief executive, said: “This was another good trading performance across the Group. Retail sales delivered solid growth supported by our service-led offerings and in Autocentres our sales continued to grow as we invested in new and refreshed centres. We are on track to meet profit expectations for the year and I look forward to providing an update on our Moving Up A Gear plans at our preliminary results on 1 June.”
Halfords said it expects group pre-tax profit for the year ended 1 April to be in the range of £78 million to £82 million as previously guided.
