LONDON, UK – Halfords UK, the biggest bike seller in the United Kingdom, had a bad Christmas bike sales due to deep-freezing weather conditions. However, for 2011 the British car parts to bicycle retailer is optimistic.
Halfords reported that its Christmas bike sales (during the thirteen weeks to December 31) was down 16% in like-for-like sales of bicycles. Next to harsh winter weather conditions affecting Christmas sales also changes made to the government's cycle-to-work scheme resulted in the 16% drop.
Halfords’ Chief Executive David Wilds said last week on a call with reporters that what happened to bikes in the last quarter around Christmas gifting was a one-off. “When the weather's as cold as it was for as long as it was, it's not surprising that children were given other gifts than cycles in this country.”
He is optimistic about bike sales in particular from Spring 2011 and said: “We continue to be optimistic about the future of the cycling market,” and added he was “absolutely” confident Halfords would grow profits in the coming year.
Source: Cyclical Consumer Goods
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