Cost-of-living crisis bites as consumers shy away from high-ticket, discretionary purchases, says retailer
> "Considerable softening of the cycling market”: Halfords sales slow as supply chain disruption and inflation bite
Growth was largely due to a particularly strong performance within the company’s Autocentres and, to a lesser extent, motoring retail, with needs-based categories performing better than discretionary ones. It said that children’s bikes had “performed well due to the stronger year-on-year availability and Christmas gifting demand,” resulting in revenue growth of 4.6 per cent compared to the previous year.
Halfords said that it would give more detailed guidance at the end of March to City analysts on its expectations for the 2023/24 financial year and beyond, saying that currently, “it remains particularly difficult forecasting with any certainty.” “Consumer demand for our services and needs-based categories, which now account for the majority of our revenue, continues to grow, and our Motoring Loyalty Club is exceeding expectations as customers recognise the value of its unrivalled discounts and offers.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Halfords warns on profits after staff shortages take toll\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Greater Manchester cheapest petrol as UK average cost of unleaded drops to 1.50pGreater Manchester cheapeast petrol and diesel prices as UK average cost of unleaded drops to 1.50p
Read more »
Cost of living crisis sees rise in online shoppers committing non-delivery fraudCost of living crisis sparks rise in online shoppers committing non-delivery fraud in last 12 months
Read more »
Thousands to get money back on council tax bills in new cost of living helpTHOUSANDS of residents are to receive a council tax rebate this year. The cash comes as millions are set to be hit with rising council tax bills in April. Households in Merton will be getting a 1% …
Read more »
Pints could soon cost £10 after government cuts back hospitality energy supportYour tall cold glass of beer could cost as much as £10 in the future as the government plans to cut back financial support for the hospitality industry 😖
Read more »