Halfords reports eight per cent lift in cycle sales in run-up to Christmas

Halfords had a good Christmas. Sales in its cycle division were up by 7.8 percent in the 15-week period to 12 January 2018. However, the financial outlook remains "subdued", said a company statement.

CFO Jonny Mason said:

"We achieved record sales for Black Friday and Christmas thanks to great planning and execution and compelling product and service offers. Particular highlights included the growth in fitting services for car parts, cycle repair and increased sales of bikes, electric bikes and dash cams."

Group revenue increased by 3.2 percent. Service-related sales – including bike repair – increased by 8.6 percent.

Bike sales were up "marginally year-on-year despite price rises introduced across the market during the year," said the statement.

Over 80 percent of Halfords.com orders were collected in store, reported the group.

Halfords’ Cycle Republic styling has now been expanded to 19 shops with new openings in Derby and Canary Wharf.

The group’s new CEO Graham Stapleton started at the beginning of the week.

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