Sales of sat-nav and iPod connection kits have helped Halfords to report better-than-average retail sales for a High Street player. Sales of its own-brand bikes have also been strong. The company will release its full-year results on Thursday and because it faces few "strategic challenges", a City analyst firm believes shares in Halfords represent an "attractive investment."
Halfords is “safe port in a storm”, says analyst
Halfords is expected to post pre-tax profits of £77m, less than last year despite higher sales.
Margins may be down but analysts are impressed with Halfords’ performance because most other High St. players are still in the doldrums.
Analyst Morgan Stanley says Halfords has good value stock and is a safe port in a storm.
An investment statement from Morgan Stanley said: We believe [Halfords] represents an attractive investment for those looking for low-risk exposure to the sector.
In other news...
In the first of a five-part series, The Association of Cycle Traders (ACT), the largest cycle trade organisation in the UK, helps retailers boost their business. This month, a look at how the cost of living crisis will nudge more consumers towards cycling