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Halfords reports decline in like-for-like sales

Halfords saw its group like-for-like sales decline by 3.2% in the 20 weeks to 16 August after retail sales fell by 3.9%. The company’s sales in… View Article

GENERAL MERCHANDISE

Halfords reports decline in like-for-like sales

Halfords saw its group like-for-like sales decline by 3.2% in the 20 weeks to 16 August after retail sales fell by 3.9%.

The company’s sales in the cycling category declined by 1.1%  which Halfords attributed to this year’s cooler weather. Strong growth in the electric bikes and kids cycling categories was offset by weaker sales of expensive bikes in the mainstream cycling category.

However,  group online sales were strong with growth of 8.4%. Halfords said 85% of online orders continue to be collected in-store

Meanwhile, Halfords’ autocentres like-for-like sales increased by 1.1% due to progress made with the division’s transformation plan.

Looking ahead, Graham Stapleton, Halfords chief executive, said: “In the second half, we believe the economic and political uncertainty will continue to impact big-ticket discretionary spend and, therefore, as in the first half, we will continue to focus on improving gross margins and controlling costs.

“We set out a new strategy for the business last year and while it is still early, we have already seen encouraging signs of progress. We remain confident that it is the right strategy to drive the sustainable growth of the business.”

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