Halfords experiences drop in sales
Halfords group revenues for the 20 weeks to August 16th fell by 3.2 per cent on a like-for-like basis as motoring sales weakened. The retailer is also advising its investors that political and economic uncertainty will affect sales for the rest of the year. Retail cycling sales had fallen by 1.1 per cent, impacted by worse weather conditions than experienced in summer 2018.
"Despite sales growth in group services, online and business to business, we have seen our overall sales impacted by cooler, wetter weather and weaker consumer confidence year-on-year," said Halford CEO Graham Stapleton. "The market has been challenging but we are pleased to have seen increased market share in our core catgeories."
"In the second half, we believe the economic and political uncertainty will continte to impact big-ticket discretionary spend and, therefore, as in the first half, we will continue to focus on improving gross margins and controlling costs."