- Group Q4 like-for-likes rise 2.6%
- Retail LFLs up 3.1%
- Bike sales up for second consecutive quarter
Halfords has posted a healthy rise in fourth-quarter like-for-likes as sales of bikes rose for a second consecutive quarter.
The car parts and cycling retailer said today that group like-for-likes rose 2.6% in the 11 weeks to April 1. Retail like-for-likes increased 3.1%.
Its cycling unit reported like-for-likes up 1.9% in the period, as bikes sales increased but parts, accessories and clothing had a “small decline”. On a full-year basis, cycling like-for-likes slipped 0.9%.
Boss Jill McDonald, who took charge in May last year, has endured a bumpy ride in her first year as first-half profits fell partly due to a soft cycling performance. Weak winter sales also led to the retailer slashing bonuses for senior management.
However, McDonald said today: “This was another good trading performance across the group.”
Motoring sales rose 3.5% in the quarter against “tough comparatives”, driven by in-car dash cams, car cleaning products and travel equipment, the retailer said. Sales at its Autocentres posted a tenth consecutive quarter of growth, up 1.7%.
McDonald added that the business is “on track” to meet full-year profit expectations.