Tag Archives: finance

Halfords upgrades FY22 profit guidance to £80m-£90m

Halfords has announced its interim results for the FY22, upgrading its full year profits to £80m-£90m. The retailer saw strong revenue growth of 19.2% in H1 FY22 vs FY20, with cycling growth of 8.8% despite supply chain disruption. Sales of e-bikes, e-scooters and accessories also grew by more than 140% …

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Treasury launches consultation on BNPL regulation

Using non-regulated Buy Now Pay Later (BNPL) services can be like “slipping into quicksand”, a charity has warned, with the Treasury launching a consultation into bringing the sector under regulation. Many BNPL products are becoming increasingly popular among Gen Z’s and Millennials – it is offered widely online by fashion …

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FCA fees ‘penalise independent businesses’

The FCA recently announced increases in its base rate fees that will have an ‘unfavourable effect’, particularly on smaller independent retailers, said the ACT. However, retail finance remains the ‘most powerful sales tool available for IBDs’, the ACT added, and correctly used these extra costs can ‘easily be negated’. Applications …

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Thule Group presents new long-term financial goals and sustainability ambitions

The Thule Group has presented new long-term financial goals and sustainability ambitions, in connection with its presentation of Q1’s financial results. Net sales for the first quarter of 2021 amounted to SEK 2,538m (1,744), corresponding to an increase of 45.5%. Adjusted for exchange rate fluctuations, sales increased 56%. Operating income …

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Halfords to repay £10.7 million of furlough income as sales grow

Halfords has updated the market on its recent trading performance, with full year profit before tax expected to be within the range of £90 million-£100 million. The board has therefore taken the decision to repay in full £10.7 million of furlough income received, and the profit range is after this …

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Shimano sees rise in bike component sales for 2020

Shimano has reported an increase in sales for the fiscal year 2020, with net sales increasing 4.1% from the previous year. Net sales from the bicycle components segment increased 2.7% from the previous year to 297,777 million yen, and operating income increased by 18.4% to 68,494 million yen, the company …

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Halfords sees cycling growth of 35% with continued strength in e-mobility

Halfords has reported cycling LFL growth of 35.4% in its Q3 trading update, covering the 13 weeks to 1st January 2021. This was driven by continued strength in adult mechanical, e-bikes and e-scooters, despite global container shortages and port congestion impacting availability. The retailer’s performance cycling business Tredz continued to …

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Science in Sport set for 51% online sales growth in 2020

Science in Sport has issued an update on trading for the current financial year, reporting continued momentum in its online business and ‘substantial’ improvements in gross margin. Online channels continue to perform ‘very strongly’, it said, and this has offset some of the downturn caused in the retail channels by …

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Halfords sees strong cycling revenue growth in H1 as e-mobility rises 184%

Halfords has reported strong cycling revenue growth through H1, finishing at 54.4% LFL. E-mobility rose by 184% and cycle services 24%, the retailer announced in its interim results for the 26 weeks to 2nd October. The retailer saw group revenue growth of 9.6% and profit before tax of £56 million. …

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Dorel Sports reports continued growth, new pandemic wave expected to impact Q4

Dorel Sports has seen its sixth consecutive quarter of revenue growth, with third-quarter revenue at $305.6 million, an increase of 22.1%. The continuing record demand for bicycles throughout the summer drove another quarter of ‘substantial’ growth at the Cycling Sports Group (CSG) and Pacific Cycle divisions. Caloi’s revenue increased in …

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