Tag Archives: finance

Electric and urban cycling specialist Velorution has partnered with Newpay. Newpay is a digital credit account that spreads the cost of online purchases, to offer customers 24 months 0% finance on purchases up to £5,000. Velorution said it is ‘delighted’ to bring Newpay on board, offering it as a credit …

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% …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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. …