Halfords trims profit forecast amid summer sales slowdown

Halfords Derby  3

Halfords has trimmed its profit guidance for the second time this year after blaming poor weather and weak consumer confidence for a slump in sales.

Halfords like-for-like sales declined 3.2% for the 20 weeks to August 16. Retail like-for-like sales were down 3.9% however its autocentre sales registered a slight uptick of 1.2% during the same period.

The cycling and car parts retailer has trimmed its profit forecast for this financial year and said it “anticipates underlying profit before tax to be within the range of £50m to £55m” down slightly from its original guidance of £59m.

Chief executive Graham Stapleton said: “Despite sales growth in Group services, Online and B2B, we have seen our overall sales impacted by cooler, wetter weather and weaker consumer confidence year-on-year.”

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