Halfords report increase in cycling like-for-like revenue of 0.8 per cent

Halfords’ latest financial summary has shown an increase in cycling revenue of just 0.8 per cent like-for-like.

The company reported a good peak summer period following the poor weather at the start of the year and an early Easter.

E-bikes were reported to be the ‘standout performer’ and sales of parts, accessories and clothing for cycling continued to grow.

Chief executive Graham Stapleton said: “I am pleased with the trading performance for the first 20 weeks of the year in what continues to be a challenging retail environment.

“In retail, sales growth was supported by fitting services, new ranges of workshop and car cleaning products, and electric bikes.

“In autocentres, we continued to build momentum on our transformation plan.

“I look forward to presenting our strategy update at our capital markets event on 27th September.”

Overall revenue increased by 2.8 per cent like-for-like, with a retail revenue increase of 2.6 per cent and an autocentres revenue increase of four per cent.

Group online sales increased 11.3 per cent with 85 per cent of Halfords.com orders collected in store.

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