Posted: 5/31/2012
Halfords Group plc, the UK’s leading retailer of automotive and leisure products, reported comparable store sales of cycling products within its Leisure segment grew 9.7 percent in the year ended March 30 on strong performance in both premium bikes and cycle accessories.
The company said, however, conditions have since worsened.
“Retail sales in FY13 have been very disappointing so far,” the
company reported in a statement on its annual results. “In particular we
have not seen the usual seasonal demand for Cycling and Outdoor Leisure
products. We believe some of these sales are deferred rather than
cancelled, and we expect a stronger performance from these categories as
the year progresses.”
“In a challenging consumer environment we have made good progress
in our key growth areas of Leisure, including Cycles, Fitting Services
and Autocentres,” noted CEO David Wild. “Our success in these categories
and our detailed market research demonstrates how customers appreciate
the help and value we offer and our opportunity for further growth. As a
result we are evolving our strategy to focus on three strategic pillars
so that we become the Friend of the Motorist, the Best Cycle Shop in
Town and the Starting Point for Great Getaways. In each of these areas
we believe we have a unique end to end solution and are well positioned
to increase our share in significant markets.”
Website: http://www.halfords.com
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