TIDMHFD
RNS Number : 0107J
Halfords Group PLC
06 September 2016
6 September 2016
Halfords Group plc
Trading Update
Halfords Group plc ("the Group"), the UK's leading retailer of
motoring, cycling and leisure products and services and a leading
independent operator in garage servicing and auto repair, today
updates the market on its trading performance for the 20-week
period to 19 August 2016:
Year-to-date
(20 weeks)
% change
------------------------------------------------ --------------
TOTAL REVENUE
------------------------------------------------ --------------
Halfords Group +4.8
------------------------------------------------ --------------
Retail +4.8
------------------------------------------------ --------------
Autocentres +4.6
------------------------------------------------ --------------
LIKE-for-LIKE (LFL) REVENUE
------------------------------------------------ --------------
Halfords Group +1.2
------------------------------------------------ --------------
Retail +1.1
------------------------------------------------ --------------
Motoring +0.6
------------------------------------------------ --------------
Car Maintenance +1.7
------------------------------------------------ --------------
Car Enhancement -3.8
------------------------------------------------ --------------
Travel Solutions +4.9
------------------------------------------------ --------------
Cycling +1.9
------------------------------------------------ --------------
Autocentres +1.8
------------------------------------------------ --------------
Key points
-- Group revenue +4.8%, with Retail +4.8% and Autocentres +4.6%
-- Strong service-related sales growth of 13.9%
-- Robust Motoring sales against strong comparatives
-- Car Maintenance growth driven by bulbs, blades and batteries and new motorcycle ranges
-- In Car Enhancement, dash cam sales growth remains strong, but
was offset by the continuing decline in sat nav sales
-- Travel Solutions delivered good growth across the category,
particularly child safety seats and roof boxes
-- Strong Cycling sales during late July and August, helped by
new ranges and a deeper promotion, which more than offset the
slower sales earlier in the year. Premium bikes in strong growth
throughout the year to date
-- Total cycling sales across the Group grew by 11%, reflecting
Cycle Republic store openings and the addition of Tredz, which
continued to perform well since acquisition. Improved parts,
accessories and clothing ('PACs') performance with Group sales up
6%
-- Continued progress in Autocentres led by growth in servicing and tyres
Financial outlook
All guidance for the full year remains unchanged.
Jill McDonald, Chief Executive, commented:
"I am pleased to report a solid year-to-date trading
performance, with Group sales up 4.8% and service-related sales in
double-digit growth as we continue to strengthen Halfords' position
as the first choice for customers' journeys. Motoring sales were
robust, driven by car and motorcycle parts, roof boxes and child
seats. Good growth in Cycling sales during the peak summer period
was supported by new ranges, strong promotional activity, good
weather and the success of Halfords' Olympic cycling heroes. We
continue to make good progress on our strategic initiatives; we can
now match 25% of our Retail sales to specific customers compared to
only 3% last year and in recent weeks we have successfully piloted
contactless payments and also launched the new Cycle Republic
website."
Enquiries
Halfords +44 (0) 1527 513 113
Jonny Mason, Chief Financial Officer
Adam Phillips, Corporate Finance & IR Director
Maitland (Media) +44 (0) 207 379 5151
Neil Bennett
Andy Donald
Trading performance for the 7 weeks to 19 August
The table below details the trading performance for the seven
weeks to 19 August 2016, representing the period since the end of
Q1. The Q1 trading performance was reported in the trading update
released on 14 July 2016. In future years Halfords will report on
an initial trading period of 20 weeks, rather than a first quarter
of 13 weeks, in order to include the summer cycling sales and to
spread market updates more evenly through the year.
13 weeks to 1 July
(as reported on 14 July)
% change
7 weeks to 19 August
% change
------------------------------------------------ --------------------------- -----------------------
TOTAL REVENUE
------------------------------------------------ --------------------------- -----------------------
Halfords Group +2.1 +9.3
------------------------------------------------ --------------------------- -----------------------
Retail +1.5 +10.3
------------------------------------------------ --------------------------- -----------------------
Autocentres +5.9 +2.3
------------------------------------------------ --------------------------- -----------------------
LIKE-for-LIKE (LFL) REVENUE
------------------------------------------------ --------------------------- -----------------------
Halfords Group -0.6 +4.3
------------------------------------------------ --------------------------- -----------------------
Retail -1.2 +5.0
------------------------------------------------ --------------------------- -----------------------
Motoring +0.6 +0.6
------------------------------------------------ --------------------------- -----------------------
Car Maintenance +2.3 +0.6
------------------------------------------------ --------------------------- -----------------------
Car Enhancement -4.2 -3.3
------------------------------------------------ --------------------------- -----------------------
Travel Solutions +4.4 +5.5
------------------------------------------------ --------------------------- -----------------------
Cycling -4.0 +12.5
------------------------------------------------ --------------------------- -----------------------
Autocentres +3.1 0.0
------------------------------------------------ --------------------------- -----------------------
Notes
1. Like-for-like sales represent revenues, including those
attributable to Click & Collect, from UK and Irish stores and
UK autocentres trading for greater than 365 days, plus online
revenues from direct deliveries. Where appropriate, revenues
denominated in foreign currencies have been translated at constant
rates of exchange
2. The Motoring category of sales comprises the aggregate of Car
Maintenance, Car Enhancement and Travel Solutions
Reporting Calendar and Conference Call
On 10 November 2016 we will report on the interim results for
the 26 weeks ending 30 September 2016. On 19 January 2017 we will
report on the 15 weeks to 13 January 2017, which includes the peak
Christmas trading period. There will be no conference call
today.
Notes to Editors
Halfords is the UK's leading retailer of motoring, cycling and
leisure products and, through Halfords Autocentres, is also one of
the UK's leading independent operators in garage servicing and auto
repair. Customers shop at 461 Halfords stores and 12 Cycle Republic
shops in the UK and Republic of Ireland and at halfords.com for
pick-up at their local store or direct home delivery. Halfords
Autocentres operates from 313 sites nationally and offers motorists
high-quality MOTs, repairs and car servicing at affordable prices.
Customers can also shop at three Tredz stores and a Giant store in
South Wales as well as online at tredz.co.uk and wheelies.co.uk for
cycling products and direct home delivery.
Halfords employs approximately 11,000 colleagues and sells
around 9,000 product lines in store, increasing to around 165,000
Retail products online. The Retail offering encompasses significant
ranges in car parts, cycling products, in-car technology, child
seats, roof boxes and camping equipment. Halfords' own cycling
brands include Apollo, Carrera, Boardman and 13 cycles, augmented
by a range of other brands of cycles and accessories, including
Kona, Mongoose, Raleigh and Pinarello. In Motoring, the Halfords
Essentials and Halfords Enhanced ranges are sold alongside brands
such as General Electric, Bosch, Garmin and TomTom. In Travel
Solutions, Halfords sells a premium range of equipment including
camping brands such as CampinGaz and Outwell. Halfords offers
customers expert advice and a fitting service called 'wefit' for
car parts, child seats, satellite navigation and in-car
entertainment systems, and a 'werepair' service for cycles.
www.halfords.com www.cyclerepublic.com www.tredz.co.uk
www.halfordsautocentres.com www.boardmanbikes.com www.wheelies.co.uk
www.halfordscompany.com
Cautionary Statement
This report is based on information from unaudited management
accounts and 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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