Halfords benefits from strong cycle sales at Christmas
Halfords, the car parts and cycle retailer, increased its like-for-like sales by 6.7% in its third quarter as trade was boosted by strong children's bike sales over the Christmas period.
Sales at Halfords' retail division climbed by 6.8% on a like-for-like basis in the 15 weeks to 9 January while like-for-like sales at its autocentres rose by 5.9%.
The retailer reported that cycle sales grew by 7.6% in the period driven by a 13.8% increase in children’s bike sales. There was also a strong performance in car maintenance products where sales grew by 11%.
Halfords chief executive Matt Davies said: "We are delighted to report strong Q3 sales, demonstrating our ability to continue to drive top-line growth.
“Investment in our omni-channel proposition helped online sales grow to record levels, driven by click & collect.”
Halfords refreshed nine stores in the period as it targets 70-75 refreshes by the end of the year. It also launched its first Cycle Republic store in London and plans to open a second store at the end of January.
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