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...
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