Halfords posts solid sales thanks to UK staycation boom

A slump in the value of the pound since the UK’s vote to leave the European Union has dampened many peoples’ appetite for international travel 

Josie Co
Business Editor
Tuesday 05 September 2017 14:58
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Halford has benefitted from more people choosing to holiday at home due to a slump in the value of the pound
Halford has benefitted from more people choosing to holiday at home due to a slump in the value of the pound

A boom in “staycations” across the UK helped Halfords post a strong sales performance for the crucial summer period, with its camping items, roof boxes and cycle carriers in particularly high demand.

The group on Tuesday posted a 3.5 per cent increase in like-for-like retail sales for the 20 weeks to 18 August. Revenue across its retail division rose by 6.2 per cent.

“A combination of good planning and execution meant that we optimised sales from the staycation summer, with strong growth in camping, roof boxes and cycle carriers,” said chief executive Jill McDonald.

She said that Halford’s “foreign exchange mitigation plans are working in line with expectations” and that the company is “well prepared for the peak trading period through winter".

A slump in the value of the pound since the UK’s vote to leave the European Union has dampened many peoples’ appetite for international travel fuelling domestic tourism across the whole country.

Small businesses catering for holidaymakers saw turnover jump 8.3 per cent in the first half of 2017 compared to the same period last year, according to recent research by Barclays.

Recent official figures showed 3.5 million overseas residents chose to holiday in the UK in June 2017 – up 7 per cent from the same period in 2016. Tourists also spent more, splashing a total of £2.2bn – a 2 per cent rise on the same period last year.

Halfords said that total group sales, which includes sales from its auto centres, grew by 4.8 per cent.

Ms McDonald in May announces that she would be leaving Halfords to join Marks & Spencer’s struggling clothing, home and beauty business.

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