Surge in first quarter sales at Halfords

10th Jul 2013 07:42

Car and bike parts retailer Halfords delivered a better than expected improvement in first quarter sales, fuelled by strong demand for its cycling and car maintenance divisions.Total revenue for the first quarter of the financial year increased 8.8% from the same period last year compared to a 0.3% in the fourth quarter of the previous financial year. Retail sales in the first quarter increased 9.0% while Autocentres rose 7.8%.The specialist retailer said overall like-for-like (LFL) revenue rose 7.5%, retail increased 8.8% while cycling advanced 15.5%, helped by drier weather compared to a year ago. Car Maintenance climbed 11.8% and Car Enhancement rose at a more moderate 3.0%. Travel Solutions fell 1.9% and Autocentres retreated 0.9%.Chief Executive Matt Davies commented: "Our Retail performance reflected better trading execution in areas of opportunity whilst we were up against a weak comparative period. Autocentres LFL sales reflected an adverse fleet performance but we continued to expand our network as planned." "We are in the early stages of our Getting Into Gear 2016 plan as outlined on 23 May 2013, designed to significantly improve our Retail customer experience through the friendly expertise of our colleagues and step changes in our store and online environment. Our focus is on delivering this plan over the medium term to drive sustainable and profitable revenue growth."Halfords said its financial position remains sound.