Halfords is the UK's only substantial retail chain selling in four main categories – cycling, car maintenance, car enhancement and travel solutions. Category sales are split at around 70% for motoring and 30% for cycling. Halfords trades its own stores and Cycle Republic shops. The company operates in-garage servicing and auto repair through its Autocentres. Retail Week provides news, analysis, features and opinion about Halfords and specialist retailers.
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Halfords has called on the government to urgently reform the apprenticeship levy, as sales and profits trended down in the first half.
Investment bank Peel Hunt has downgraded its profit forecasts for six retailers, including struggling fast fashion player Boohoo and cycling and motoring specialist Halfords, due to the effects of changes to national insurance made in the recent Budget.
Cycling and motoring specialist Halfords has reported flat sales for the 26 weeks ending September 2024 as “consumers remain cautious in their discretionary spending”.
Team GB’s strong cycling performance at the Paris Olympics has led to a spike in demand for bikes, according to new figures released by Halfords today.
Halfords said that tough trading conditions persist.
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