Halfords posted a 14% sales rise for the 20-week period ended August 18, as the bicycle and car products retailer was boosted by strong demand for its “basic needs” services at its garages across the country.
The UK’s biggest provider of motoring services and products saw revenues in its autocentres division grow 4.6% and retail sales rise 3.7%.
As a result, the business forecasts its annual underlying pretax profit to be between £48m and £58m, slightly higher than last year at the midpoint of that range.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Within retail, needs-based products and services drove strong motoring like-for-like growth of 7.5%.
Despite the rise, earnings in its cycling arm, which now only represents 25% of total revenues, slipped 1.7%, hit by poor weather conditions and low consumer confidence.
Chief executive Graham Stapleton said: “It’s been a good start to the year for Halfords, and our ongoing focus on essential maintenance and servicing is driving a strong performance in our Autocentre and Retail Motoring business.
“Group Motoring, which now accounts for over 75% of our total sales, is a resilient sector and we’re progressing with our long-term plans to become a one-stop-shop for motoring ownership.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
