Halfords Group PLC (LSE:HFD)’s share price was cut by a quarter after the motoring and cycling retailer slashed its profit guidance for the current year.
The group has witnessed a "further material weakening" in three of its four core markets – cycling, retail motoring and consumer tyres – causing a fall in sales volumes and profits.
Profits for the current year now are expected to be between £35-40 million rather than the £48-53 million range previously anticipated.
Halfords’ shares were swapping for 152.47p as of 9.20am.