Halfords Group plc said its first-half like-for-like sales rose 7.1%, but its shares fell Oct. 21 after the British retailer held its annual profit outlook and outlined heavier spending later in the year.
Halfords maintained its forecast of £55 million to £65 million in underlying pretax profit for fiscal 2027. The company said faster spending on marketing and technology in the second half would leave more of that profit in the first half.
Alliance News reported that Halfords shares were down 8.1% at 255.50 pence in London morning trading. The price was a snapshot from that morning’s session.
The sales increase covered the 26 weeks through Oct. 2. Like-for-like retail sales rose 7.7%, with cycling up 8.3% and motoring up 7.3%. The Autocentres business recorded a 6.1% gain on the same basis, excluding the Avayler software business.
Halfords cited progress on its strategy as well as demand for seasonal products during the warm summer. In an August trading update, it estimated that seasonal demand had added a mid-single-digit amount, in millions of pounds, to profit. That earlier boost helps explain the stronger first-half performance, while the planned spending shifts more of the company’s expected annual profit toward the first half.
Halfords is scheduled to publish its interim results Nov. 26.
