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06/06/2012
Halfords 'Very Disappointed' At Fall In Sales
Bicycle and car parts retailer Halfords have described their last two months of sales as “very disappointing”, as it reported a steep decline in profit for the year to end of March, in line with estimates.
"Retail sales in the financial year 2013 have been very disappointing so far. In particular we have not seen the usual seasonal demand for cycling and outdoor leisure products," the company said on Thursday.
"We believe some of these sales are deferred rather than cancelled, and we expect a stronger performance from these categories as the year progresses."
The wettest April on record has affected sales across the high street, exacerbating an already tough situation as British shoppers cut back on spending due to muted wages growth and government austerity measures.
Full-year underlying profit at Halfords for the year to the end of March fell 27% to £92.2m, in line with estimates, according to Thomson Reuters. Sales were down about 1% at £863m.
(H)
"Retail sales in the financial year 2013 have been very disappointing so far. In particular we have not seen the usual seasonal demand for cycling and outdoor leisure products," the company said on Thursday.
"We believe some of these sales are deferred rather than cancelled, and we expect a stronger performance from these categories as the year progresses."
The wettest April on record has affected sales across the high street, exacerbating an already tough situation as British shoppers cut back on spending due to muted wages growth and government austerity measures.
Full-year underlying profit at Halfords for the year to the end of March fell 27% to £92.2m, in line with estimates, according to Thomson Reuters. Sales were down about 1% at £863m.
(H)
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