Halfords Posts First-Half Sales Rise
Halfords posted higher first-half sales driven by strong demand for cycling and camping equipment during an unusually warm summer. The retailer retained its annual profit forecast while shares fell due to profit taking.
Insights:
Halfords posted a 7.1% rise in group like-for-like sales for the 26-week period ending October 2, driven by summer demand in the United Kingdom. The retailer reaffirmed its annual adjusted pre-tax profit forecast of between £55 million and £65 million ($73.52 million and $86.89 million). Shares fell 7.7% following the announcement after nearly doubling in value over the year to date.
