Retailer reports 9.5 per cent rise
Halfords has announced a sales increase of 9.5 per cent for the spring quarter ending July 28.

In a trading statement issued in advance of its AGM today, the retailer said like-for-like sales for the same quarter were up 6 per cent and underlying like-for-like sales, which exclude Easter, rose by 4.5 per cent

In July, Halfords Group completed the refinancing of its debt. The company has a loan of£180 million, with a credit facility of£120 million.

Seymour Pierce research analyst Richard Ratner believed that Halfords achieved growth of 5.5 per cent over June and July, despite the effects of the World Cup.

He said: 'Recent good weather has helped performance, particularly the cycling and travel solutions divisions.'

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