UK Retailer Halfords Sees Bicycle Sales Surge 59% During Crisis

LONDON: British retailer Halfords said on Tuesday underlying sales of cycling goods surged 59.1% in the 20 weeks to Aug. 21, as people continued to shy away from public transport during the coronavirus pandemic.

It said group like-for-like sales rose 5.0%, with the strong performance in cycling partially offset by a 28.6% fall in motoring products sales, with car journeys limited by the crisis.

Assuming expected demand levels in September and stability in the relative value of the U.S. dollar, first-half underlying pretax profit was forecast to be 35-40 million pounds ($46-52.6 million).

($1 = 0.7607 pounds)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor