Staycations boost Halfords' sales

Halfords has seen strong demand for bikesHalfords has seen strong demand for bikes
Halfords has seen strong demand for bikes
Halfords has said it expects to surpass profit targets after strong summer sales momentum, driven by demand for cycling and staycations, continued into September.

It said it now expects to post pre-tax profits above £55m for the first half of the current financial year.

However, the retailer told investors it remains cautious in its outlook for the second half of the year.

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In a statement, Halfords said: “The potential impact of second waves of Covid-19 now seems more pronounced than just a few weeks ago and the economic impact of an end to the furlough scheme and the outcome of Brexit negotiations remains very uncertain.

“We are well placed to address any headwinds we may face and capitalise on the tailwinds as they arise.

“Our balance sheet and liquidity position remain strong.”