Halfords UK Beats Expectations in Christmas Quarter
REDDITCH, UK – UK’s biggest bicycle seller Halfords outperformed analysts’ forecasts during the important Christmas quarter. Sales in the cycling segment upped 7.4% in the holiday period. Cumulative (41 weeks) Halfords’ cycling sales increased 5.5%.
Also sales of electric bikes did well at Halfords in the company’s fiscal third quarter. Today’s published financial report says, “In Cycling, sales growth in both bikes and PACs (Power Assisted Cycles) helped by new ranges. Cycle Republic and Tredz continued to grow strongly.”
The British bicycles to car parts retailer not only maintained its profit expectations for the full 2016-17 year but also announced a special dividend of 10 pence per share.
Overall Halfords group retail sales rose 7.0 percent in the 15 weeks to January 13. This is almost double to what analysts anticipated.