BikeBiz Bicycle and cycling retail news
Operating profit increased by 24 percent to £22.2m. Underlying profit was up
by 8.5 percent.
Sales growth for Bikehut stores was 20.8 percent.
Despite the drop in cycle sales, Halfords claims "market shares in this category were maintained."
Overall sales at Halfords increased by 6.9 percent to £272.1m but in today's half year results to 30th September the 14.2 percent drop in cycle sales was attributed to a "depressed market" (Halfords doesn't have Specialized, Trek or Giant - see their success stories from earlier in the week) and the absence of "a strong promotional programme this year".
