Halfords raises profit expectations as sales surge

Halfords Derby  1

Halfords has upped its profit expectations for the half-year mark but stresses that economic uncertainty may hamper its second-half performance.

Halfords said that despite the peak cycling and staycation season coming to an end its sales have remained strong since its last trading update earlier this month.

The retailer recorded a 22% surge in group like-for-like sales growth in the five weeks to September 25, bolstered by a 46% spike in cycling like-for-like sales. 

Halfords’ motoring business has also performed strongly during the period with sales up 7.5% in like-for-like terms driven by a 18% jump in like for likes across its autocentres. The retailer says this performance has been buoyed by ‘exceptional demand’ for the retailer’s growing Mobile Expert proposition as customers seek “greater convenience and safety from our fleet of vans”.

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