Halfords snubs £1.4bn tie up with van hire firm which ‘undervalues’ it November 20, 2023 Halfords has reportedly snubbed a £1.4bn merger offer with van hire firm Redde Northgate as it “undervalues” the motor and cycling group. However, a potential deal may not be completely off the cards, a source told The Telegraph: “There were discussions about what an integration of the two businesses might look like, but there were [...]
Halfords revenues rise as consumers sniff out budget auto care September 6, 2023 Halfords reported a 14.1 per cent hike in revenue for the first five months of the year as the retailer was bolstered by demand for “basic needs” services such as motoring. The motoring and cycling retailer said that revenue in its autocentres division grew 34.6 per cent and retail rose 3.7 per cent. Halfords has [...]
FTSE 100 close: London’s markets close in the red after inflation shock sends shivers through market June 21, 2023 London’s indexes closed in the red on Wednesday after yet another higher than expected inflation reading earlier this morning. The FTSE 100 closed 0.1 per cent lower at 7,559.18 while the FTSE 250, which is more aligned with the health of the UK economy, sunk 0.9 per cent to 18,571.45. Official figures out this morning [...]
Halfords profits tumble by £38.3m but expects ‘strong growth’ June 21, 2023 Halfords reported a £38.3m drop in annual profits as the group was hit by a decline in consumer demand for cycling following its lockdown boom and a tough economic climate. For the year, underlying profit before tax slumped to £51.5m compared to £89.8m the prior year and £56m during the pandemic as the retailer invested [...]
Halfords investors looking for progress after profit warning earlier in the year June 9, 2023 Investors in Halfords will be hoping the retailer has made progress in repairing holes in its workforce as it is set to unveil its full-year financial results. The bike and car parts seller warned over its profits earlier in the year amid a shortage of mechanics. The firm, which also services cars and bikes and [...]
Halfords share price soars as retailer’s motoring offering woos cash-strapped Brits April 18, 2023 Halfords‘ share price soared over eight per cent this morning as the motoring and cycling giant revealed its sales could top £1.9bn. The Birmingham headquartered retailer, which has seen its shares slide 30 per cent in the last year, said it expected pre-tax profits to come in at around £90m to £110m, up from £50m [...]
Halfords boss urges govt to help with labour market gap as profit guidance shrinks January 12, 2023 Halfords’ chief executive Graham Stapleton has called on the government to help fill a gap in the labour market as the group reduced its profit guidance from £60m to £50m. Stapleton said it couldn’t get “enough qualified technicians into our garages to meet demand” and that was hurting growth. According to the chief executive, the [...]
Halfords focusing on offering shoppers more essentials as they slash discretionary spending November 23, 2022 Halfords must transform into offering more essential products as shoppers trim back discretionary purchases, bosses said on Wednesday morning. The cycling specialist said that a switch-up to selling more “needs-based” items was key as the firm must become less “reliant and exposed to the volatility of more discretionary product markets.” It warned it was expecting [...]
Halfords buys commercial tyre firm Lodge Tyre for £37.2m October 5, 2022 Halfords has bought commercial tyre firm Lodge Tyre for £37.2m in cash, the motoring services retailer announced today. The London-listed company will pay an initial £33.2m while a further £4m will be paid in FY25 depending on performance. “The acquisition of Lodge Tyre is yet another example of Halfords’ strategic aim of becoming a motoring [...]
Halfords warns cost pressures could lead to road safety risks September 7, 2022 Halfords share price boomed more than 10 per cent on Wednesday morning, following a trading update. Halfords saw like for like sales dip 1.9 per cent compared to the year before, for the 20-week period to 19 August 2022. Sales last year benefitted from the end of the Covid lockdown in the UK. The motoring [...]