Sales rise at Halfords
Sales in the 52 weeks to 31 March 2006 have increased by 8.4% compared with the equivalent period last year, with like-for-like sales growing by 6.1%.
Halfords said that fast growing in-car technology sector had continued to drive sales in Car Enhancement. Car Maintenance had remained resilient trading positivelyIn the the Leisure category, customers have reacted well to the launch of new cycle ranges, which has resulted in further growth in market share for the Bikehut brand.
Ian McLeod, Chief Executive, said ‘Halfords’ focus on driving sales and cash margin has enabled us to continue to trade well against the backdrop of a difficult retail environment. Our store investment plans remain on track, while trading has benefited from a strong core business supported by successful moves into new product areas.’
Steve Davies, Analyst at Numis said “Halfords is the clear leader in a market where it is not easy for non-specialists such as the grocers to break into, so is much better protected from price-led competition than many others in the retail sector.”
