TIDMHFD
RNS Number : 1972C
Halfords Group PLC
18 January 2018
18 January 2018
Halfords Group plc
Q3 Trading Update
Halfords Group plc, the UK's leading retailer of motoring,
cycling and leisure products and services, as well as a leading
independent operator in garage servicing and auto repair, today
updates the market on its trading performance for the 15-week
period to 12 January 2018.
Q3 Year-to-date
(15 weeks) (41 weeks)
% change % change
------------------------------------------------ ------------- -------------
TOTAL REVENUE
------------------------------------------------ ------------- -------------
Halfords Group +3.2 +3.6
------------------------------------------------ ------------- -------------
Retail +3.3 +4.1
------------------------------------------------ ------------- -------------
Autocentres +1.9 +0.3
------------------------------------------------ ------------- -------------
LIKE-for-LIKE ("LFL") REVENUE
------------------------------------------------ ------------- -------------
Halfords Group +2.7 +1.9
------------------------------------------------ ------------- -------------
Retail +2.9 +2.3
------------------------------------------------ ------------- -------------
Motoring +0.3 +1.3
------------------------------------------------ ------------- -------------
Car Maintenance +2.1 +2.1
------------------------------------------------ ------------- -------------
Car Enhancement -1.1 -1.7
------------------------------------------------ ------------- -------------
Travel Solutions -4.1 +4.2
------------------------------------------------ ------------- -------------
Cycling +7.8 +3.9
------------------------------------------------ ------------- -------------
Autocentres +0.7 -0.7
------------------------------------------------ ------------- -------------
Key points for the 15-week period
-- Group revenue +3.2%, with Retail +3.3% and Autocentres +1.9%
supported by good trading over peak including Christmas
-- Continued strong growth in service-related Retail sales of
+8.6%, driven by fitting of bulbs, blades, batteries and dash cams,
new motoring services and cycle repair
-- For Retail Motoring, growth continued in Car Maintenance,
against a strong comparative, partly offset by anticipated declines
in the smaller categories of Travel Solutions, which annualised
very strong increases in child car seat sales last year due to the
change in legislation, and Car Enhancement, primarily due to
declining sat nav sales
-- Retail Cycling LFL sales +7.8% reflected growth across all
bike categories, cycle repair and PACs. Bike volumes were up
marginally year-on-year despite price rises introduced across the
market during the year
-- Group online sales growth was +13.0%, with over 80% of
Halfords.com orders collected in store, reinforcing the advice and
service-led nature of transactions
-- Autocentres LFL +0.7% with increased service, maintenance and
repair work offsetting the planned decline in low margin tyre sales
via affiliates
-- Continued progress on our strategic initiatives: 40 shops now
refurbished in the latest format, Cycle Republic up to 19 shops
with new openings in Derby and Canary Wharf, further progress in
the collection and use of customer data, electric/hybrid vehicle
qualified technicians covering the whole of the UK and Autocentres
operational improvements on track
-- New CEO Graham Stapleton started on 15 January
Financial outlook
We anticipate that the UK retail sales environment will remain
subdued for the remainder of FY18. Sales for the quarter were
slightly ahead of expectations, with growth led by the lower margin
cycling business. Our FX mitigation plans remain on track. We
anticipate FY18 Group profit before tax broadly in line with
current market expectations.
Jonny Mason, Chief Financial Officer, commented:
"We are pleased with the overall performance of the Group in the
15 week period given the difficult UK retail environment. We
achieved record sales for Black Friday and Christmas thanks to
great planning and execution and compelling product and service
offers. Particular highlights included the growth in fitting
services for car parts, cycle repair and increased sales of bikes,
electric bikes and dash cams."
Enquiries
Investors and analysts:
Jonny Mason, Chief Financial Officer +44 (0) 1527 513 113
Adam Phillips, Corporate Finance Director +44 (0) 1527 513 113
Media:
Emma Thomas, Head of Communications +44 (0) 7753 809729
Notes
1. Like-for-like sales represent revenues from Retail stores,
Autocentres and Group websites that have traded for at least a year
(excluding prior year sales from Retail stores or 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.
Conference Call
There will be a conference call for investors and sell-side
analysts beginning at 9.00am today (UK time). The participant
dial-in is +44 (0) 333 300 0804 or 0800 358 9473 (toll free). The
PIN is 06866242#. To access a recording of the call, the
participant dial-in is +44 (0) 333 300 0819 or 0800 358 2049 (toll
free). The pin is 301217030#. A transcript of the call will appear
online in due course.
Reporting Calendar
We will report our annual results for the 52 weeks ending 30
March 2018 on 22 May 2018.
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 460 Halfords stores and 19 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 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 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 own cycling 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.
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 company news service from the London Stock Exchange
END
TSTVDLFFVFFZBBD
(END) Dow Jones Newswires
January 18, 2018 02:00 ET (07:00 GMT)
Halfords (LSE:HFD)
Historical Stock Chart
From Apr 2024 to May 2024
Halfords (LSE:HFD)
Historical Stock Chart
From May 2023 to May 2024