Halfords ‘determined’ to help with cost-of-living crisis

Halfords has said it is working ‘extremely hard’ to help customers with rising costs, by dropping its prices across nearly 2,000 motoring essentials.

Graham Stapleton, the CEO of Halfords also announced today that the firm is offering free MOTs to all of its 10,000+ colleagues.

In its 20-week trading update, Halfords say its performance has been in-line with its expectations, and therefore continues to target full year underlying profit before tax of £65m to £75m.

It has seen a revenue growth of 9.2%, and a decrease of 1.9% in LFL against strong prior year comparatives, when sales benefited from the UK emerging from the final COVID-19 lockdown.

Against FY20, all segments are showing LFL growth of three years with Autocentres up by 28.2%, Retail Motoring increasing by 8.5% and Cycling up by 9.5%.

Halfords says the strategic acquisitions in Autocentres has been the key driver of total sales growth.

Graham Stapleton, the CEO of Halfords said: “Our Motoring Loyalty Club is also proving to be extremely popular and has already attracted over half a million members since its launch in March, with benefits including MOT discounts and a free 10-point car health-check, putting almost £14m of savings directly back into members’ pockets.
“We are also determined to do everything that we can to support our fantastic employees whose tireless work and commitment to going the extra mile for our customers is so critical to our performance”.

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