04/10/2012

Halfords Reports 'Summer Of Sport' Sales Hike

Halfords has reported a sales boost attributed to success in the Tour de France and Olympic cycling.

Like-for-like bike sales excluding new stores soared by 14.7% in the three months to 28 September, and by 5.6% in the quarter, following a 5.6% fall in sales the previous quarter.

The company expects first half pre-tax profits of between £40m and £42m when it releases its interim results on 21 November.

They envisage full year profits at around £62m to £70m in comparison to the 27% fall in full-year profit to £92m reported in May.

The retailer appointed the former head of UK retailer Pets At Home Matt Davies as its new chief executive on Wednesday.

(GK)

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