Halfords buoyant as Britain gets on its bike
RETAILER and auto repair group Halfords has seen significant growth in the sale of cycles at its stores which has helped the firm record a hike in its revenue figures.
Halfords, best known for selling automotive and leisure products, saw total revenue increase by 6.6% in the 15 week period to January 10 compared to the corresponding period the previous year. On a 41 week basis revenue was up by 7.3%.
Retail revenue was up by 6.2% over 15 weeks and 7.3% over 41 but the firm’s autocentres was the star performer with revenue up by 9.2% over 15 weeks and 7.5% over 41 weeks.
Halfords said there was significant growth across the board in its cycling department including “excellent performance” from accessories and children’s bikes.
Car maintenance saw strong sales of workshop tools, partially offset by subdued demand for parts and winter products. Fitting of parts reached record levels despite the mild weather conditions.
Matt Davies, chief executive, said: “Our retail top-line performance was robust in a period of comparatively mild weather. Cycling was again the standout performer, with our customers engaged by refreshed ranges, supported by a renewed customer-first promotional stance.
“Within car maintenance, despite a fall in demand for winter products and low growth in auto-parts sales, we undertook record levels of 3Bs fitting activity.
“Getting Into Gear is progressing well and our key indicators are moving in the right direction. During the period we refurbished a further 12 stores and successfully re-launched Halfords.com.”
