Good Late Summer Weather Turns Around Halfords Cycling Results
REDDITCH, UK – Any continued doubts that Brexit might impact consumer confidence and cycle sales on the UK seem to have receded as major UK bike retailer Halfords posted 20 week results to August 19th up 1.9% on the same period last year.
This pickup will be welcome news following their 13 week results in July showed cycle sales growth impacted by poor weather and their earlier April figures had showed a 1% decline compared to the same period last year.
Turnaround of previously disappointing figures
However, absolute cycle revenue growth for the August figures, with sales from Cycle Republic, Tredz and Wheelies factored in, saw 11% growth. These were not quoted in the 1.9% like for like growth figures as they were not all part of the Halfords group at this time last year. Cycling parts, accessories and clothing sales showed a strong 6% like for like growth over the August period too.
It seems good weather in later summer and the launch of branded bikes from Olympians Bradley Wiggins and Laura Trott in early July helped turnaround the previously disappointing figures.
Jill McDonald, Halfords Chief Executive also commented on how she saw new sales channels and new technology driving sales forward in the future, “We continue to make good progress on our strategic initiatives; we can now match 25% of our retail sales to specific customers compared to only 3% last year and in recent weeks we have successfully piloted contactless payments and also launched the new Cycle Republic website.”
Halfords bills itself as, “the UK’s leading retailer of motoring, cycling and leisure products.” The retailers operates 461 Halfords stores and 12 Cycle Republic shops in the UK and Republic of Ireland. Customers can also shop at three Tredz stores and a Giant store in South Wales as well as online at tredz.co.uk and wheelies.co.uk for cycling products and direct home delivery. Halfords’ own cycling brands include Apollo, Carrera, Boardman and 13 cycles, augmented by a range of other brands of cycles and accessories, including Kona, Mongoose, Raleigh and Pinarello. The Halfords shops also offer a cycle repair service.