 issued its third quarter trading update on Thursday, with figures boosted by record Black Friday and Christmas sales. ){kind=link}
Halfords Group (LON:HFD) issued its third quarter trading update on Thursday, with figures boosted by record Black Friday and Christmas sales.
Group revenue rose 3.2 percent the 15 weeks to 12th January, with its retail and autocentres divisions up 3.3 percent and 1.9 percent respectively. Cycling, one of its other major sales categories, saw growth of 7.8 percent, with bike sales continuing to rise despite price hikes across the market.
Online saw particularly strong performance, with sales growth up 13 percent. Over 80 percent of Halfords.com orders were collected in store, “reinforcing the advice and service-led nature of transactions.”
Jonny Mason, the group’s Chief Financial Officer, said:
“We are pleased with the overall performance of the Group in the 15 week period given the difficult UK retail environment. We achieved record sales for Black Friday and Christmas thanks to great planning and execution and compelling product and service offers. Particular highlights included the growth in fitting services for car parts, cycle repair and increased sales of bikes, electric bikes and dash cams.”
Halfords anticipates a “subdued” trading environment going into 2018, with profit before tax broadly in line with current market expectations.
Halfords (LON:HFD) shares are currently trading down 0.45 percent at 350.20 (0856GMT).