Bike and car accessories retailer Halfords Group PLC (LON:HFD) saw sales cycle backwards in the year to date, hit by weaker consumer confidence and poor summer weather.
In the 20 weeks to 16 August, total revenue fell 3.9%, as a 4.8% drop in sales from the retail stores that sell cycling and motoring products offset a 2.4% rise in sales from autocentres that provide vehicle repairs, MOT and tire fitting.
On a like-for-like basis, total sales declined 3.2% with retail sales down 3.9% and autocentre sales up 1.1%.
Halfords said like-for-like cycling sales fell 1.1% due to cooler weather in comparison to last year’s prolonged heatwave.
Motoring sales dropped 5.9% on a like-for-like basis with Halfords blaming a challenging car market and tough weather comparatives. The company said motoring sales were last year boosted by stronger sales of touring, camping and car cleaning as warm weather led customers to take more staycations.
The group said the decline in sales has been partially mitigated by improved margins and tight cost control.
"In the second half, we believe the economic and political uncertainty will continue to impact big-ticket discretionary spend and, therefore, as in the first half, we will continue to focus on improving gross margins and controlling costs,” said chief executive Graham Stapleton.
"We set out a new strategy for the business last year and while it is still early, we have already seen encouraging signs of progress.
“We remain confident that it is the right strategy to drive the sustainable growth of the business."
For the full year, Halfords expects underlying pre-tax profit within the range of £50mln to £55mln, compared to £58.8mln last year.