UK retailer Halfords’ sales fall 6.5% in lockdown quarter – ZAWYA

  • Date: 07-Jul-2020
  • Source: Zawya
  • Sector:Retail
  • Country:UAE
  • Who else needs to know?

UK retailer Halfords’ sales fall 6.5% in lockdown quarter – ZAWYA

UK retailer Halfords' sales fall 6.5% in lockdown quarter | ZAWYA MENA Edition HomeBusinessArticleUK retailer Halfords' sales fall 6.5% in lockdown quarter Halfords was able to trade through the coronavirus lockdown period    General view of a Halfords store in St Albans, following the outbreak of the coronavirus disease (COVID-19), St Albans, Britain, May 16, 2020.LONDON - British motor and cycling products retailer Halfords said underlying sales fell 6.5% in its first quarter with a rampant performance in bicycles during the lockdown more than offset by weakness in motoring due to a major reduction in car journeys.As a provider of products deemed essential, Halfords was able to trade through the coronavirus lockdown period. It said that over the 13 weeks to July 3 cycling sales soared 57.1% but revenue fell 45.4% in the higher margin motoring division.Halfords said it remained cautious on the months ahead and because of the uncertainty that currently exists because of COVID-19 has withdrawn guidance for the 2020-21 year.(Reporting by James Davey; editing by Kate Holton) (([email protected])) Most Read Stock Market DataDubai FM 2,099.40390,500,701(0.58% )Abu Dhabi SE 4,339.52950,891,542(0.49% )Saudi SE 7,424.14145,416,869(0.45% )Egypt SE 11,046.5899,032,659(-0.37% )Most Active Stocks MoreOur Privacy Statement & Cookie PolicyThis website uses cookies