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RNS Number : 6343Z
Halfords Group PLC
04 September 2018
4 September 2018
Halfords Group plc
20-week 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 vehicle servicing, maintenance and repairs,
today updates the market on its trading performance for the 20-week
period to 17 August 2018:
FY19
Year-to-date
(20 weeks)
% change
TOTAL REVENUE
---------------
Halfords Group +2.7
---------------
Retail +2.6
---------------
Autocentres +3.9
---------------
LIKE-for-LIKE ("LFL") REVENUE
---------------
Halfords Group +2.8
---------------
Retail +2.6
---------------
Motoring +3.8
---------------
Car Maintenance +4.5
---------------
Car Enhancement +2.2
---------------
Travel Solutions +4.7
---------------
Cycling +0.8
---------------
Autocentres +4.0
---------------
Key points
-- Solid performance despite challenging retail environment.
Group LFL +2.8%, Retail LFL +2.6% and Autocentres LFL +4.0%, in
line with our expectations
-- Retail Motoring sales +3.8% LFL, driven by growth in fitting
services, car cleaning products, tools, and staycation-related
products
-- Retail Cycling sales +0.8% LFL, with a good peak summer
period offsetting the impact of poor weather at the start of the
year and an early Easter. Electric bikes were the standout
performer and PACs sales continued to grow
-- Autocentres performed well with sales +4.0% LFL and continued
momentum on the operational improvements; on track to deliver
profit growth for the year
-- Group online sales of +11.3% with 85% of Halfords.com orders collected in store
Financial outlook
Our guidance for the current year is unchanged and we continue
to anticipate FY19 Underlying Profit Before Tax to be broadly in
line with FY18.
Graham Stapleton, Chief Executive, commented:
"I am pleased with the trading performance for the first 20
weeks of the year in what continues to be a challenging retail
environment. In Retail, sales growth was supported by fitting
services, new ranges of workshop and car cleaning products, and
electric bikes. In Autocentres, we continued to build momentum on
our transformation plan. I look forward to presenting our strategy
update at our capital markets event on 27(th) September."
Enquiries
Investors & Analysts (Halfords) +44 (0) 7703 890142
Adam Phillips, Group Strategy & IR Director
+44 (0) 207 353
Media (Tulchan Communications) 4200
Jonathan Sibun
Will Smith
Notes
1. Like-for-like sales represent revenues from Retail stores,
Autocentres and websites that have traded for at least a year
(excluding prior year sales from Retail stores and Autocentres
closed in the year) at constant foreign exchange rates.
2. The Motoring category of sales comprises the aggregate of Car
Maintenance, Car Enhancement and Travel Solutions.
3. "PACs" refers to Parts, Accessories and Clothing, for Cycling.
4. Underlying Profit Before Tax is Profit before income tax and non-recurring items.
Reporting Calendar and Conference Call
On 27(th) September 2018 we will be hosting a capital markets
event in London. Please contact Adam Phillips on
adam.phillips@halfords.co.uk or 07703 890142 for further details.
On 8(th) November 2018 we will report on the interim results for
the 26 weeks ending 28(th) September 2018.
There will be a conference call for investors and sell-side
analysts at 9.00am today. The call details have been sent by email
to our IR distribution list and can also be obtained by contacting
Tulchan on +44 (0) 207 353 4200.
Notes to Editors
www.halfords.com www.halfordscompany.com www.halfordsautocentres.com
www.cyclerepublic.com www.boardmanbikes.com www.tredz.co.uk
Halfords is the UK's leading retailer of motoring, cycling and
leisure products and services, as well as one of the UK's leading
independent operators in vehicle servicing, maintenance and
repairs. Customers shop at 454* Halfords stores and 20* Cycle
Republic shops in the UK and Republic of Ireland and at
halfords.com or cyclerepublic.com for pick-up at their local store
or direct home delivery. Customers can also shop at two* 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 Autocentres operates from 316* sites nationally
and offers motorists high-quality MOTs, repairs and car servicing
at affordable prices.
Halfords employs approximately 10,000 colleagues. The Retail
offering encompasses significant ranges in car parts, cycling
products, in-car technology, child seats, roof boxes and camping
equipment. Halfords' key cycling own brands in-stores include
Apollo, Carrera, Boardman, Pendleton and Wiggins, augmented by a
range of other brands of cycles and accessories, including Voodoo
and Raleigh and, through Tredz, a wide range of premium brands
including Giant, Specialized, Cannondale, Cube and Scott. In
Motoring, the Halfords Essentials and Halfords Advanced ranges are
sold alongside brands such as General Electric, Bosch, Garmin,
TomTom, Karcher, Thule and Autoglym. Halfords offers more than 70
in-store services including a fitting service called 'wefit' for
car parts, child seats, satellite navigation and in-car
entertainment systems, and a 'werepair' service for cycles.
* As at 17 August 2018
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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