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Halfords sales rise in Q3 on stronger growth in autocentres business
StockMarketWire.com
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Retailer Halfords reported like-for-like sales rose 11.7% in the third quarter led by jump in autocentres sales on strong demand for the services of its growing fleet of mobile expert vans.
For the 13 weeks to 1 January 2021, retail like-for-like sales were 9.8% and autocentres like-for-like sales were up 21.1% year.
In its retail division, cycling like-for-like growth was 35.4%, while motoring LFL sales fell 8.4%, as UK traffic volumes dropped about 25% from pre-pandemic levels as a result of lockdowns.
Looking ahead, the company said lockdown restrictions would continue to hurt demand in its motoring division that would not fully offset by strength in its cycling division, as was seen in the spring lockdown, as fewer people cycle in the winter months.
'We do not believe it appropriate to provide profit guidance at this stage but we currently intend to issue a pre-close statement during March 2021,' the company said.
Story provided by StockMarketWire.com
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