BikeBiz Bicycle and cycling retail news
Halfords’ cycling sales increased by just one per cent like-for-like, in a report that covers the 26 weeks up to 28th September.
The retailer said a challenging start to the year, with poor weather in April and an early Easter, was offset by a better performance in the peak summer period of mid July to mid August.
E-bikes were again the ‘standout performer’ and parts, accessories and clothing sales continued to grow.
Total group revenue increased 2.5 per cent life-for-like, reflecting "good sales of e-bikes, dash cams and motoring services", Halfords said.
It added that as part of it new strategy, it aims to "inspire and support a lifetime of motoring and cycling".
This includes the strengthening of cyclist specialist credentials via an agreement with Brompton to sell its products across the Halfords Group.
CEO Graham Stapleton said: "Despite the challenging UK consumer environment, we delivered a robust sales and cash flow performance in the first half, with costs and profit broadly in line with our expectations.
“We are making good early progress as we implement our new strategy, and we are encouraged by the initial signs.
“We are moving to a more customer centric approach, leveraging our expertise to provide a more differentiated shopping experience and an integrated and more convenient services offer."
