Halfords Bikes Comps Surge 21.3 Percent in Fiscal Q1

The retailer said comparable store sales of Cycling products grew 21.3 percent, compared with a consolidated comp store sales increase of 7.9 percent across all its retail segments, which include Car Maintenance, Car Enhancement and Travel Solutions.  The company reported premium bike sales grew 35.1 percent. Comp store sales of Travel Solutions, which includes car top boxes and cargo racks, increased 4.2 percent during the period.

 

“Halfords continued to drive top-line growth in the quarter, with the Cycling category delivering another exceptional performance,” said CEO Matt Davies. “Our actions resulted in growth across all elements of Cycling reflecting our continued focus in the category, enhanced by favorable weather and increased interest in the Tour de France. Against a challenging comparative, Car Maintenance sales were satisfactory whilst significant levels of clearance in Car Enhancement in the prior year comparative were negated by our continued success in Car Cleaning. Our customer-centric approach delivered further growth in Travel Solutions.

 

 

“The acquisition of Boardman Bikes and the launch of Car Parts Direct had a negligible effect on the sales performance but are illustrations of our intent to grow our authority in Cycling and Auto,” Davies added. “Getting Into Gear continues to progress within Retail, whilst Autocentres will deliver an improved experience for motorists.”

 

Halfords sells Boardman’s Performance Series of bikes exclusively in the U.K. and ROI and acquired the U.K. bike manufacturer June 4 to help it expand internationally. The company  was founded by former British cyclist and 1992 Olympics gold medalist Chris Boardman, who remains chairman and design director at Boardman Bikes.

 

Halfords is the UK's leading retailer of automotive, cycling and leisure products and, through Halfords Autocentres, also one of the UK's leading independent car servicing and repair operators. Halfords sells around 9,000 product lines in store, increasing to around 30,000 Retail products online. The Retail offering encompasses significant ranges in car parts, cycling products, in-car technology, child seats, roof boxes and camping equipment. Halfords’ own cycling brands  include Apollo, Carrera and Boardman cycles, augmented by a range of other brands of cycles and accessories, including Kona, Mongoose, Raleigh and Pinarello. The company operates 465 stores in the United Kingdom and Republic of Ireland and at halfords.com for pick-up at their local store or direct home delivery. Halfords Autocentres operates from over 300 sites nationally.