Halfords is revving up for a big UK expansion drive on the back of rapidly improving fortunes under private ownership.
The car parts and cycles retailer, owned by private equity house CVC Capital, has set its sights on up to 70 new superstores and a further 200 high street Metro stores. It will also become a big player in the outdoor leisure market, with roll-out of the category to all 360 superstores next year.
Chief executive David Hamid said trading was excellent, and suspected like-for-likes were 'higher than anyone else on the high street' at the moment.
The retailer has set up a new sourcing arm, Halfords Asia. Sourcing in the region stands at about 8 per cent and Hamid saw scope to 'more than triple that figure'. He played down speculation of CVC's early exit, and said: 'We are happy to trade the business.'
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