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Cycling the star performer as Halfords unveils full-year results

Sales of bikes and accessories up 42 per cent in last 3 months - retailer urges government to invest in cycling

Halfords says that strong sales of bicycles and cycling accessories mean it is ahead of plan in its turnaround strategy and expects another sales boost with the Tour de France beginning in Yorkshire in July. The retailer, which unveiled its 2013/14 full-year results on Thursday, has also urged the government to improve cycle safety to encourage more people onto bikes .

The bikes-to-car-acessories group’s total sales increased by 8 per cent in the year to 28 March 2014 to reach £940 million, with pre-tax profits after non-recurring items rising 2.3 per cent to £72.6 million.

Cycling delivered what chief executive Matt Davies, quoted in the Guardian, described as “an absolute stand-out performance” – in the year as a whole, like-for-like sales, which exclude the impact of new stores, were up by 19.4 per cent, and by an astonishing 41.6 per cent in the final three months of the period.

He attributed the growth to factors including better weather last year compared to the preceding 12 months, better stock availability, an improved range of products, and moving away from price promotions. He also highlighted improvements in staff motivation and training.

Further growth is expected this year with the first three stages of the Tour de France taking place in the UK, and Glasgow hosting the Commonwealth Games.

However he warned that for growth in cycling to be maintained, the government needed to invest in making roads safer for riders.

"We believe that focusing on cycling is a sensible use of tax-payers money," he explained, adding that the company is lobbying the government on adding cycling to the national curriculum in schools.

Simon joined road.cc as news editor in 2009 and is now the site’s community editor, acting as a link between the team producing the content and our readers. A law and languages graduate, published translator and former retail analyst, he has reported on issues as diverse as cycling-related court cases, anti-doping investigations, the latest developments in the bike industry and the sport’s biggest races. Now back in London full-time after 15 years living in Oxford and Cambridge, he loves cycling along the Thames but misses having his former riding buddy, Elodie the miniature schnauzer, in the basket in front of him.

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4 comments

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goggy | 9 years ago
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So Chris Boardman and the boss of Halfords calling for better cycling infrastructure at the same time? What a coincidence...  13

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Airzound | 9 years ago
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He also highlighted improvements in staff motivation and training.

 24

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notfastenough replied to Airzound | 9 years ago
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Airzound wrote:

He also highlighted improvements in staff motivation and training.

 24

Well to be fair, he'd have to be daft (or advised really badly) not to have noticed the general perception of the staff and service when it comes to cycling. I haven't been in recently (never, if I'm honest), but I'd have to assume they were addressing it?

It also doesn't hurt to have a name traditionally associated with motorists to be backing the calls for better cycling infrastructure.

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themartincox replied to notfastenough | 9 years ago
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notfastenough wrote:

It also doesn't hurt to have a name traditionally associated with motorists to be backing the calls for better cycling infrastructure.

This!

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