Halfords is the UK's only substantial retail chain selling in four main categories – cycling, car maintenance, car enhancement and travel solutions. Category sales are split at around 70% for motoring and 30% for cycling, though cycling is a growing area as it increases in popularity in the UK. Halfords trades through around 450 eponymous stores and 22 Cycle Republic shops. The company operates in-garage servicing and auto repair through its 300-plus Autocentres and strengthened this with the acquisition of independent garage chain McConechy’s Tyre Service in late 2019. It also owns Tredz and Wheelies, having acquired the etailers in May 2016, as well as a stake in TyresOnTheDrive.com. Halfords is looking to combine its estate of garages, retail stores and mobile vans to increase its services footprint and drive cross-selling opportunities between retail and services. In terms of technology, the retailer is focusing on using AI to build a detailed picture of its customers. It is also moving part of its data estate to the cloud and investing in a new replenishment system.
Motor accessories specialist Halfords aims to keep some of its retail stores open to play its part in “keeping the UK moving”.
Halfords is set to axe its specialist cycling chain Cycle Republic following a strategic review and will instead rely on etail stablemate Tredz to appeal to bike enthusiasts.
Many people have started the new year with a mission to reinvent themselves. Lose weight, get more organised, find a new job. Which retailers could benefit from adopting a similar approach and what could their reinventions look like?
Halfords has maintained its full-year profit guidance after clocking up a “solid” sales performance during the golden quarter.
Costa Coffee has appointed former Halfords and Marks & Spencer clothing executive Jill McDonald as its new chief executive.
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