Cycling boom fuels sales acceleration at Halfords
Halfords has said that a surge in bike sales driven by a cycling boom during the pandemic has offset a slump in its motoring business.
The company said that likefor-like sales rose by 5 per cent in the 20 weeks to 21 August after sales in its cycling business leapt by 59.1 per cent.
Hal fords said this was caused by a larger cycling market after people were told to avoid public transport and “a positive impact from the current staycation trend”.
The retailer said it saw a 160
per cent jump in online sales during the period, despite large numbers of its stores remaining open due to essential status.
It also said it was buoyed by a jump in demand for e-scooters and electric bikes, which enjoyed a 230 per cent sales jump for the period.
Motoring retail sales fell by 28.6 per cent for the 20-week period but returned to growth in the past seven weeks as more drivers returned to the road. Autocentre like-for-like sales fell 7.6 per cent.