Halfords News Update: Sales Of Bikes Give Halfords A Boost
Halfords News Update: Sales Of Bikes Give Halfords A Boost. It seems that Britain’s cycling heroes have inspired cyclists, leading to higher sales of bikes.
It seems that inspiration from the likes of Chris Hoy, Olympic Gold cyclist has helped Halfords by giving it a much-needed boost to its sales. This may be just what the group needs to get back on track after a dire recent performance. An 8.8 per cent increase in figures for retail sales by the car parts and bicycle retailer was reported as being better than was expected and had been largely fuelled by a jump in cycle sales of some 15.5 per cent with some of the brands on sale benefiting from endorsements by champion cyclists Victoria Pendleton and Chris Boardman.
In figures that were released up to the end of June of this year a rise in revenue received for the 13-week period was widely anticipated. In comparison to the figures recorded for the same period of the previous year, some improvement was expected given the fact that very poor weather and a lot of rain over the spring and summer resulted in a sales dip of almost 10 per cent in cycling sales in 2012. However, although the figures were expected to show an increase in profits a figure nearer four per cent had been anticipated making analysts cautiously optimistic about the increase. Shares responded by opening almost 10 per cent higher on the stock exchange following the news of the better than expected figures for the period.
Halfords News Update
Matt Davies, who had been the boss of Pets at Home boss came on board last year in the hope that he could resuscitate a flagging Halfords and he admitted the figures, although they were encouraging, had to be seen in the context of being equated with a weak comparative period.
Halfords said that the premium bicycle ranges that are led by its own brand Carrera and include the exclusive Boardman range had done very well, with sales recorded as having risen almost twenty three per cent. Women taking up cycling in greater numbers was thought to be a contributing factor to the higher than expected rise in sales and the launch by Halfords of a new traditional-style women’s bike in the trading quarter helped the Pendleton range to a year on year increase recorded at 70 per cent.
Online retail sales were reported as being up by fifteen and a half per cent with cycling sales contributing more than half of revenues. Online sales of satnavs also grew by 9.4 per cent.
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