HFD Halfords Group Plc

Halfords Group PLC (HFD) 
Halfords Group PLC: Trading Update 
01-March-2021 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 
(MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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1 March 2021 
Halfords Group plc: Trading Update 
Full year profit before tax1 expected to be within a range of GBP90m-GBP100m after the repayment of furlough support. 
 
Halfords Group plc ("the Group"), the UK's leading provider of motoring and cycling products and services, today 
updates the market on its recent trading performance. 
In our Q3 trading update on 14 January 2021, we highlighted a weaker like-for-like ("LFL") growth rate as we exited the 
quarter. This was due to regional lockdowns impacting motoring demand, as well as global container shortages and port 
disruption delaying stock arriving into the business. Although we have continued to experience a volatile trading 
environment across the first seven weeks of Q4, overall trading has been stronger than we initially anticipated across 
the business, and we now expect full year profit before tax1 to be within the range of GBP90m - GBP100m. The Board has 
taken the decision to repay in full GBP10.7m of furlough income received, and the profit range is after this repayment. 
For the first seven weeks of Q4, from 2 January 2021 to 19 February 2021, Group LFL growth was +6.2%, with Retail +5.1% 
and Autocentres +13.3%. Despite journeys being c.40% below pre-pandemic levels, our Autocentre business has continued 
to demonstrate signs of growing market share, with strong demand for both our garage business and Halfords Mobile 
Expert vans. In Retail, our Motoring business, whilst being -14% LFL, has again performed better than traffic levels 
would suggest, with sales of blades, bulbs, batteries and general maintenance products performing better. Cycling has 
seen LFL growth rates improve as supply disruption has eased, although overall supply remains sub-optimal. Cycling LFL 
over the period was +43%, with our unique and exclusive range of kids and adult mechanical bikes performing well, along 
with our performance cycling business, Tredz, which continues to see exceptional growth, up +60% LFL in the period. 
Although only six weeks remain of FY21, the expected profit range remains quite broad as trading patterns continue to 
be volatile, with sales ahead of Easter particularly difficult to predict whilst the UK remains in lockdown. As the 
country starts to open up once more, our overriding priority remains the health and safety of our colleagues and 
customers. 
Our next planned trading update will be our Preliminary results announcement on 17 June 2021. 
 1. Underlying profit before tax and before adjustments for IFRS16 
 
Enquiries 
Investors & Analysts (Halfords) 
Loraine Woodhouse, Chief Financial Officer 
                                           +44 (0) 7483 360 675 
Neil Ferris, Corporate Finance Director 
                                           neil.ferris@halfords.co.uk 
                                           +44 (0) 1527 513189 
Andy Lynch, Head of Investor Relations 
                                           andrew.lynch@halfords.co.uk 
 
Media (Powerscourt)                        +44 (0) 20 7250 1446 
Rob Greening                               halfords@powerscourt-group.com 
Lisa Kavanagh 

Notes to Editors

www.halfords.com www.halfordscompany.com www.tredz.co.uk

Cautionary statement

This report contains certain forward-looking statements with respect to the financial condition, results of operations, and businesses of Halfords Group plc. These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast. Except as required by law, Halfords Group plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein -----------------------------------------------------------------------------------------------------------------------

ISIN:           GB00B012TP20 
Category Code:  TST 
TIDM:           HFD 
LEI Code:       54930086FKBWWJIOBI79 
OAM Categories: 2.2. Inside information 
                3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   94472 
EQS News ID:    1171791 
 
End of Announcement  EQS News Service 
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March 01, 2021 02:00 ET (07:00 GMT)

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