Halfords Group PLC (LSE:HFD) said trading has remained strong with like-for-like revenue up 7.8% driven by growth in Autocentres.
In the 20 weeks to 18 August 2023, the car and cycling specialist said Autocentres same-store revenue rose 16.6% and Retail by 3.7%.
Within Retail, needs-based products and services drove strong motoring like-for-like growth of 7.5% whereas the more discretionary areas of Cycling, Car Cleaning and Touring were adversely impacted by unfavourable weather and low consumer confidence.
Cycling, which now only represents 25% of total revenue, was down 2.7% like-for-like.
The FTSE 250-listed firm highlighted market share gains across all categories and performance in line with expectations set out at the Capital Markets Day in April.
As a result, the company expects full-year underlying pre-tax profit to be between £48 million and £58 million compared to a company compiled consensus of £51.0 million to £57.7 million.
Graham Stapleton, chief executive said: “It’s been a good start to the year for Halfords, and our ongoing focus on essential maintenance and servicing is driving a strong performance in our Autocentre and Retail Motoring business.”