Cycling surge supports Halfords during COVID-19

Following Halfords’ update on trading:

Amy Higginbotham, Retail Analyst at GlobalData, a leading data and analytics company, offers her view on the situation:

Halfords has proved resilient during the crisis; consumers’ appetite for cycling has increased during the nationwide lockdown as they have avoided public transport and maintained fitness. Halfords’ motoring division has performed less well overall as consumers have made fewer car journeys”.

“The motoring and cycling specialist is in a stronger position than the majority of other non-food retailers. A better-than-expected performance of the retailer’s now dark stores during lockdown means profit before tax for the year ending 3 April will be at the upper end of its most recent guidance of £50-55m.”

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