Halfords hit as bike sales fall

first_img Tags: NULL whatsapp Share Halfords hit as bike sales fall Show Comments ▼ Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap Thursday 13 January 2011 8:10 pmcenter_img HALFORDS issued a worse-than-expected profit forecast yesterday as poor sales of children’s bicycles over Christmas hit the retailer.Cycle sales fell 16 per cent on a like-for-like basis as parents bought gadgets and electronic games instead of bikes.The weakness in bicycles was in contrast to strong car maintenance sales which were up 12 per cent.That was sparked by poor weather meaning more cars breaking down. Like-for-like sales in the retail division overall were down 6.6 per cent in the 13 weeks to 31 December.UBS had predicted a four per cent fall while Citigroup had put the figure at five per cent. Halfords said profits for the year to April would be near the bottom of the current range of City forecasts of between £127m and £135m. Demand for premium cycles under the government’s Cycle to Work scheme also dropped.Halfords, which runs over 460 Halfords stores and the 240-site Nationwide Autocentres car servicing business, said it was disappointed with its cycle sales which were reduced by the snow before Christmas. Chief executive David Wild said: “People looked out of the window and saw the snow and came to the conclusion that their children would not be able to ride their bikes immediately.” Wild added: “That’s why they tended to buy electronic goods that could be used at home. But we were very pleased with the performance of our repairs centres.” The retailer bought Nationwide Autocentres in February last year for £73m and is rebranding the business under the Halfords banner. KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldlast_img