Halfords Group Plc reported same-store sales of Travel Solutions and Cycling related products and services grew 4.9 and 1.9 percent respectively in the 20 weeks ended August 19 compared with a year earlier.
The British retailer announced earlier this year that it would shift from reporting results for the 13-week first quarter to reporting results for the 20-week period in order to include summer cycling sales and spread market updates more evenly throughout the year. Monday’s initial 20-week report showed same-store sales improved from 4.4 percent to 5.5 percent in the seven weeks since the end of the fiscal first quarter, while same-store sales of Cycling product flipped from a decline of 4.0 percent to a growth of 12.5 percent.
Strong Cycling sales in late July and August, helped by new ranges and a deeper promotion, more than offset the slower sales earlier in the year.
Premium bike sales growth were strong throughout the year-to-date period.
Total cycling sales across the Group grew by 11 percent, reflecting Cycle Republic store openings and the addition of Tredz, which has continued to perform well since its acquisition. Sales of parts, accessories and clothing improved with Group sales up 6 percent.
At Halfords’ Travel Solutions business, same-store sales grew across all categories, but were especially strong in child safety seats and roof-top boxes. In Travel Solutions, Halfords sells a premium range of equipment including camping brands such as CampinGaz and Outwell.
“I am pleased to report a solid year-to-date trading performance, with Group sales up 4.8 percent and service-related sales in double-digit growth as we continue to strengthen Halfords’ position as the first choice for customers’ journeys,” CEO Jill McDonald said. “We continue to make good progress on our strategic initiatives; we can now match 25 percent of our Retail sales to specific customers compared to only 3 percent last year and in recent weeks we have successfully piloted contactless payments and also launched the new Cycle Republic website.”
Halfords is the U.K.’s leading retailer of motoring, cycling and leisure products and, through Halfords Autocentres, is also one of the U.K.’s leading independent operators in garage servicing and auto repair. Customers shop at 461 Halfords stores and 12 Cycle Republic shops in the U.K. and Republic of Ireland and at halfords.com for pick-up at their local store or direct home delivery. Cyclists can shop at three Tredz stores and a Giant store in South Wales as well as online at tredz.co.uk and wheelies.co.uk for cycling products and direct home delivery. Halfords own cycling brands include Apollo, Carrera, Boardman and 13 cycles, augmented by a range of other brands of cycles and accessories, including Kona, Mongoose, Raleigh and Pinarello.
Photo courtesy of Halfords Group Plc: Lord Mayor for Norwich, Councillor Judith Lubbock, showed up for the opening of a Cycle Republic store in her town in March 2015.
