Halfords UK Bike Sales Impacted by Poor Weather
REDDITCH, UK – UK bicycle market leader Halfords reported on its trading performance for the 13-week period to 1 July, 2016 that the company’s cycling revenues were down by 4%. Overall turnover for all activities in the named period was up by 2.1%. Cycling sales were impacted by poor weather.
On its cycling sales Halfords UK reports further that it saw, “Good sales growth of premium bikes, although cycling sales overall were impacted by both the timing of Easter and poor weather in April and late June affecting the timing of mainstream bikes and PACs purchases.”
Jill McDonald, Chief Executive, commented further, “We look forward to the peak summer cycling season, including our exciting new ranges from Laura Trott and Sir Bradley Wiggins launched ahead of the Olympics. While the recent decision to leave the EU does create uncertainty, we are well-positioned as a business and focused on delivering sustainable long-term growth.”
On its activities in the bicycle sector the Halfords trading update further mentions that, “Tredz performing well since acquisition.” With the last May take-over of online bike retail specialists Tredz UK’s biggest bike retailer looks to expand its internet reach. The company paid GBP 18.4 million (€ 24.2m) for Tredz and Wheelies. Wheelies is also the UK’s largest provider of replacement bikes for insurance companies. Tredz and Wheelies have around 250 employees between them and last year made a profit of GBP 2.4 million (€ 3.2m) on GBP 32 million (€ 42.0m) sales. With this take-over Halfords also gained access to premium brands such as Cube, Giant and Specialized which are marketed by Tredz and Wheelies.