Olympic cheer leads to sales rise at Halfords

Cycle sales rise at Halfords

Halfords has reported a rise in group sales of almost 5 percent for the start of its financial year. Cycle sales are up by 1.9 percent.

The company’s latest trading statement said there had been "strong cycling sales during late July and August, helped by new ranges and a deeper promotion, which more than offset the slower sales earlier in the year."

Total cycling sales across the Group grew by 11 percewnt, reflecting Cycle Republic store openings and the addition of Tredz.

Jill McDonald, Chief Executive, added:

"Good growth in cycling sales during the peak summer period was supported by new ranges, strong promotional activity, good weather and the success of Olympic cycling heroes. We continue to make good progress on our strategic initiatives; we can now match 25 percent of our retail sales to specific customers compared to only 3 percent last year and in recent weeks we have successfully piloted contactless payments and also launched the new Cycle Republic website."

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