Retailer’s profit warning put skids under new strategy
Profits are expected to fall by as much as 20% at Halfords after the retailer endured a difficult quarter's trading.
Mild weather and weak consumer confidence were blamed for its poor performance that saw group revenues fall by 2%.
It is now forecasting underlying profits for the financial year to March 2019 to be between £58m-£62m, which would be the fourth consecutive year of falling profits for the Redditch-based group.
Halfords underlying pre-tax profit, 2015-2019 (£m):
Despite the drop this year, the following ... For the full story register now for free or login below...