Halfords Group's bike sales struggled last year due to a wet summer but sales rebounded this year in the seven weeks to Aug. 20, thanks to the hot summer and the success of Halfords' Olympic cycling athletes. Halfords has deals with Bradley Wiggins and Laura Trott, both of whom won gold medals at the Rio Olympics this summer. Total cycling sales across the group grew by 11 percent as compared to the same 20-week period last year. Halford Group's overall sales for the period were up by 4.8 percent, with Retail and Autocentres up by 4.8 percent and 4.6 percent, respectively.
The double-digit growth for the cycling business reflected Cycle Republic store openings and the addition of Tredz, the online premium bike retailer acquired by Halfords in May, which has continued to perform well since. The strength of cycling sales during late July and August was also helped by new ranges as well as extra-discounting and promotions, which more than offset the slower sales earlier in the year. Premium bikes posted strong growth throughout the year to date.
The company said its guidance for the full year remains unchanged.
