Halfords boosted by car maintenance
Halfords said on Wednesday that its like for like sales increased 0.2 per cent in the 13 weeks to 27 June, compared with the previous year.
Halfords CEO resignsThe firm said its car maintenance business was continuing to perform strongly and that its leisure division was seeing continuing improvement to it sales.
The company said that the strong performance of its car maintenance business meant that it expected its gross margin to be slightly ahead of expectations and above the upper range of its original guidance. The company said it expected its full year gross margin to be in line with previous guidance.
Profit for Halfords is expected to be ahead of expectations the company said.
Nick Wharton and Paul McClenaghan, acting joint Managing Directors of Halfords, said, "This is an encouraging start to the financial year which, when set against the strong sales growth achieved in the same period in the prior year, underlines Halfords' resilient and defensive proposition. Halfords continues to progress its growth strategy and, in line with our plans, we opened three new stores during the quarter, including our first Bikehut in Central London.
"Whilst not immune to the ongoing challenging retail environment, our market leading positions, extensive ranges and unique service proposition continue to provide us with confidence in delivering full year earnings in line with our expectations."
- 1 RBS gets Chinese approval for Suzhou stake
- 2 BT cutting 10,000 jobs as part of costs drive
- 3 Kingfisher to double Polish arm as migrants return
- 4 UBS says infrastructure fund raises $1.5 billion
- 5 Lloyds TSB could face rival bid for HBOS
- 6 Ryanair earnings down 47 percent
- 7 John Lewis weekly store sales down 9.8 pct
|
|
