‘Disappointing’ sales slide for Halfords

BICYCLES to car parts retailer Halfords said sales over the last two months had been “very disappointing”, as it reported a steep decline in profit for the year to end-March, in line with estimates.

By The Newsroom

Published 31st May 2012, 09:57 GMT

“Retail sales in the financial year 2013 have been very disappointing so far. In particular we have not seen the usual seasonal demand for cycling and outdoor leisure products,” the company said in a statement.

“We believe some of these sales are deferred rather than cancelled, and we expect a stronger performance from these categories as the year progresses.”

The wettest April on record has affected sales across the high street, exacerbating an already tough situation as British shoppers cut back on spending due to muted wages growth and government austerity measures.

Full-year underlying profit at Halfords for the year to end-March fell 27 per cent to £92.2m, in line with estimates. Sales were down about one per cent at £863m.

Halfords