Halfords' cycle sales hit by bad weather
Halfords grew its group revenue by 2.1% in its first quarter but on a like-for-like basis sales edged down 0.6% after cycle sales were impacted by poor weather.
Retail like-for-like revenue fell by 1.2% in the 13 weeks to 1 July while like-for-like sales at its autocentres business rose by 3.1%.
Adjusting for this year’s timing of Easter, retail like-for-like sales dropped by 0.2% while like-for-likes sales at autocentres increased by 1.7%.
Halfords said it enjoyed good sales growth in its premium bikes category although cycling sales overall were impacted by both the timing of Easter and poor weather in April and late June.
Jill McDonald, Halfords chief executive, said: "This was a solid performance from our motoring categories, which account for around 70% of group sales, with continued growth in service-related sales, demonstrating Halfords' credentials as a specialist retailer
“We look forward to the peak summer cycling season, including our exciting new ranges from Laura Trott and Sir Bradley Wiggins launched ahead of the Olympics.
“While the recent decision to leave the EU does create uncertainty, we are well-positioned as a business and focused on delivering sustainable long-term growth.”
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