Halfords reports 2.7% uplift in like-for-like sales
Car parts and cycling retailer Halfords saw its group like-like sales increase by 2.7% in the 20 weeks to 18 August as the company benefited from strong growth in services related sales.
Group revenue rose by 4.8% in the period.
Sales in the retail motoring category climbed by 2.3% on a like-for-like basis, driven by an increase in fitting services and parts, dash cams, camping, roof boxes and cycle carriers. Like-for-like retail cycling sales were up 5.2% reflecting good growth in sales of premium bikes.
Meanwhile, services related retail sales surged by 18.3% after Halfords launched a range of new services.
The company’s autocentres fared less well with sales down 2% on a like-for-like basis as planned and previously guided.
Jill McDonald, Halfords chief executive, said: ” A combination of good planning and execution meant that we optimised sales from the staycation summer, with strong growth in camping, roof boxes and cycle carriers. This complemented our service-related retail sales, which grew significantly faster than our total sales, as we continue to demonstrate our relevance to the growing ‘do-it-for-me’ customer. Our foreign exchange mitigation plans are working in line with expectations and we are well prepared for the peak trading period through winter.”
The company said it continues to anticipate that full year pre-tax will be in line with current market expectations
