Halfords drives through challenging retail environment with solid performance

Motor accessories and leisure goods retailer Halfords has delivered a solid performance against a backdrop of what it called a “challenging retail environment”, boosted by new ranges of workshop and car cleaning products and the popularity of its electric bikes.

For the 20 weeks to August 17, the Redditch-based company posted a 2.8% rise in group like-for-like sales.

Retail like-for-like sales were also up 2.6%, while sales in its autocentres division were up 4% in line with expectations.

Motoring sales were up 3.8%, driven by growth in fitting services, car cleaning products, tools, and staycation-related products.

Retail Cycling sales were up 0.8%, with a good peak summer period offsetting the impact of poor weather at the start of the year and an early Easter.

Electric bikes were the standout performer, the group said, while the group’s online sales were up 11.3%.

Graham Stapleton, chief executive, said: “I am pleased with the trading performance for the first 20 weeks of the year in what continues to be a challenging retail environment. In retail, sales growth was supported by fitting services, new ranges of workshop and car cleaning products, and electric bikes.

“In autocentres, we continued to build momentum on our transformation plan.”