Multi-channel sales driven forward at Halfords
Halfords has reported revenues of £809.5m, giving an operating profit of £104m, for the 53 weeks to 3 April. On a comparable 52 week basis, earnings per share are up 8.5 per cent to 31.8p, with profit before tax up 2.4 per cent to £92.4m.
The groups preliminary results show like-for-like sales were down by 3.3 per cent over the period, but there has been 90 per cent growth in multi-channel trading. This has been driven by the retailer's Reserve & Collect service. Cycling and car maintenance categories have continued to perform well.
“We continue to strengthen our offer across all categories and see significant opportunities for future growth within the UK business,” says Halfords chief executive David Wild. “We continue to manage the business proactively, intervening early to deliver sustainable reductions in operating costs. Progress on halfords.com has been most encouraging and provides future upside. Finally, we have also begun overseas expansion, which in the longer term will further accelerate growth.”
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