The continuing popularity in cycling is just one of the factors that has given a lift to Halfords Group Plc, the UKs biggest retailer of car parts and bicycles. The retail group revealed a fresh rise in sales, boosted by its car maintenance and cycle units.
Another reason for the good news is the stay-at-home holidaymakers, with Britons deciding to holiday in the UK due to the current financial climate, thus boosting the demand for camping equipment.
The company reported a 2.2% growth in like for like sales in the second quarter, and it said it expected to make half year profits of between £59m and £61m. It said sales momentum in cycling helped its leisure division.
Total sales increased by 3.8% in the quarter to October 2, taking sales growth for the first half to 3.4%.
Shares jumped 8% as the 470-branch chain said half-year profit will be around £60 million, and analysts raised full-year profit forecasts to £106 million. Halfords’ shares have risen more than 50 percent in a year helped by consumer demand for bicycles.
Halfords said the “sales momentum” in the leisure sector during the first quarter had continued, spurred by growing interest in bikes and more being spent on vehicle maintenance, and the successful summer season increased confidence in prospects for the company's full-year performance.
It’s more good new for the cycling retail market, after the latest report from ActSmart showed retailers were coming out on top during the tough times
The August report showed core sales in August increased by 3.7 per cent compared to the same time last year 2008, and fifty-nine per cent of retailers reported sales were up, over half by more than 20 per cent. It means that while the recession is hitting many areas of business, cycling has seen a sales growth of 3.9% in the last three months
IIRC Dutch researchers found that generally banning bikes or removing bans on bikes from pedestrianised streets usually either made no difference...
I think you'll find that you'll only go to jail if rich people are losing money from it.
He's not there to fill air-time (that's Kirby and the other one), he's there to use his expertise to give good insight into the racing. And he's...
Maybe a bit of PPE?
Thanks for the review. I like that Orbea have included aero extras and wish more manufacturers would stick two fingers up at the UCI - at least in...
Excellent - I think I'll replace my emergency tube that is a real squeeze to get into the little Topeak bottle cage bag thingy....
I enjoyed this guy I captured with his hound on New Oxford Street a few years ago.
I know this is a bit late but one thing that hasn't been mentioned yet is the extra wear and possible damage to the cycle lane surface due to being...
*bursts back into the room hours after the conversation has moved on*...
Damn, that sucks. I generally feel pretty relaxed with my bike on Avanti trains because the compartment is locked and I don't have to worry about...