Halfords UK Sees Strong Sales Growth in Cycling
REDDITCH, UK – In the trading update for the third quarter (15-week period to 12 January 2018) of its financial year Halfords Group plc reports a 7.8% growth in retail cycling sales. With that cycling accounted for the biggest growth as UK’s leading retailer of motoring, cycling and leisure products achieved record sales for Black Friday and Christmas.
Halfords overall sales for the named 15-week period resulted in a Group revenue growth of 3.2%. On its retail cycling sales the company further reports that the 7.8% revenue increase was thanked to growth across all bike categories, cycle repair and PACs (e-bikes). “Bike volumes were up marginally year-on-year despite price rises introduced across the market during the year,” says the trading update.
Double digit growth in online sales
Despite making substantial investments in its online presence Halfords continues to upgrade its brick and mortar stores while new Cycle Republic stores has been opened. The listed company also reports on “further progress in the collection and use of customer data.” Halfords Group online sales growth was +13.0%, with over 80% of Halfords.com orders collected in stores, reinforcing the advice and service-led nature of transactions.
On its outlook for the 4th quarter and FY2018 the trading update says “We anticipate that the UK retail sales environment will remain subdued.”