Halfords reduced its profit guidance for the second time in three months as underlying sales continued to fall in tough markets.
The bicycles and car parts firm also announced a share buyback programme of up to £75m.
Halfords forecast a year to April 1 pretax profit of between £124m and £127m, with group sales of £869m and gross margins broadly flat.
In January Halfords had guided that year profit would be about £127m after sales in the run-up to Christmas failed to meet expectations.
Sales at Halfords stores open over a year fell 6.8 per cent in the 13 weeks to 1 April, its fiscal fourth quarter.
That compares with a third quarter fall of 6.6 per cent.
Like-for-like sales at the firm's Autocentres car servicing business were down 1.4 per cent, having been up 1.6 per cent in the earlier period.
It also flagged a four per cent rise in costs and said delivery of initial profit objectives for Autocentres will be delayed.
City A.M. Reporter