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HALFORD’S RETAIL PERFORMS WELL, BUT CYCLE SALES DEFLATE

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HALFORD’S RETAIL PERFORMS WELL, BUT CYCLE SALES DEFLATE


Halfords_CEO

CEO of Halfords Jill McDonald

There are mixed results for big-box retailer Halfords as it announced a small overall rise in sales across it’s accessories, consumables and technology and another small rise in servicing and parts, but a decline in cycling revenue.

Most of the rise is due to a swell in sales of child seats, which enjoyed double-digit YOY growth. Car accessories overall rose by 4.4 percent, although ‘enhancement’ products such as sat-navs fell, although this was offset by a rise in dashcam sales.

The wet first half of the year also contributed to a 2.3 percent YOY rise in wiper and bulb sales. Perhaps surprisingly given the mild conditions, the group also posted steady results from battery sales.

However, the performance of car accessories couldn’t hide the fact that sales of bikes and related parts were down. Bikes make up around a third of Halfords’ total revenue and the company blamed the wet weather for a drop in sales. “Casual cyclist don’t like the wet weather, and there is not a lot we can do about that” CEO Jill McDonald was quoted as saying by the Daily Telegraph. The company plans to give bikes a shot in the arm with a 20 percent discount in August and new ranges branded by Olympians Laura Trott and Bradley Wiggins.

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