Halfords sales rise on warm summer weather boost

Summarised from 2 outlets · Updated 21 Oct, 11:44 · Archive

Halfords reported stronger trading in the first half of its financial year, boosted by warm summer weather.

Halfords reported like-for-like sales growth of 7.1% for the six months to October 2, with retail operations up 7.7%, motoring sales up 7.3% and cycling sales up 8.3%. The group's autocentres business saw a 6.1% sales increase. The company operates 367 Halfords stores, two performance cycling stores and 497 consumer garages.

The Redditch-based retailer said the growth was supported by strong sales of seasonal products during the unusually warm summer weather. In August, Halfords had upgraded its profit outlook on the back of strong trading, and the company said it remains on track to deliver an underlying pre-tax profit of between £55 million and £65 million for the full financial year.

Shares in Halfords fell 8.3% on Wednesday morning, however, after the company indicated that investment plans will weigh on profitability in the second half of the financial year. Chief executive Henry Birch said the business 'continued to perform positively' and that the company moves 'into the second half with confidence'.

How it is being reported

• Halfords sales jump after warm weather boosts summer tradingNevertheless, shares in the company dropped on Wednesday morning.Independent Business · 21 Oct, 11:28
• Halfords sales jump after warm weather boosts summer tradingNevertheless, shares in the company dropped on Wednesday morning.Evening Standard · 21 Oct, 11:28

In this story: Halfords · Redditch

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