Halfords’ Chief Executive Jill McDonald today hailed the company’s “solid performance” after making market share gains and posting slightly higher group sales and profits.
For the 52 weeks to 1 April 2016, pre-tax profits edged up 0.5% to £81.5m on total revenues that increased 1.5% to £1.02bn. The retail division saw sales rise 1.2% to £868.5m with like-for-like growth of 1.3%.
Within the retail division, cycling like-for-like sales fell 0.9%, whilst motoring related products saw growth of 2.5%.
The group said that it refurbished of 25 of its retail stores during the year and that its ‘Moving Up A Gear’ strategy launched in November 2015 was making good progress.
McDonald commented: “This was a solid performance and we gained market share in both our motoring and cycling divisions.”
- Given the flat-line environment, even 1.3% like-for-like may satisfy the investors
- However, key for suppliers has to be how your like-with likes compared…