Revenue growth at Halfords edges up


Halfords, the UK‘s biggest bicycle seller, recorded a return to growth in sales of bicycles in its third quarter, compensating for a fall in parts, accessories and clothing after a rocky summer.

At the time, Halfords said that bad weather had deterred casual cyclists. More recently, however, cycle sales grew 1.1%.  Group like-for-like sales in the 15 weeks to January 15 increased 0.3%. Though the retail business was flat, autocentres were up 1.9%, making this the ninth consecutive quarter of like-for-like growth.  However, it doesn‘t compare to the 6.7% growth seen in the same period the previous year.

CEO Jill McDonald remained buoyant and said “Particularly pleasing was the strong growth in service-related sales and a return to like-for-like growth in cycling.

The British retailer said it had a record day online over the Black Friday weekend, and its highest ever day for total sales on 23 December.

Halfords currently owns 20-25% of the market share.