Halfords : sales driven by 'staycation summer'
It has become a regular feature during the 15 months since the
Its trading update on Tuesday, which also marks the swansong for outgoing chief executive
The company reported that during the 20 weeks to 18 August, sales were up by 4.8% on the same period last year.
On the closely-watched like-for-like sales measure, which strips out any impact of store openings, closures or refurbishments, sales were up by a still-solid 2.8% - with sales in the cycling sub-category up by 5.2%.
"A combination of good planning and execution meant that we optimised sales from the staycation summer, with strong growth in camping, roof boxes and cycle carriers.
"This complemented our service-related retail sales, which grew significantly faster than our total sales, as we continue to demonstrate our relevance to the growing 'do it for me' customer."
The news, as related to the weaker pound, was not all good.
It insisted that its mitigation plans had been put in place. Most bikes sold in the
However, this is a factor that will also hurt a lot of independent cycle retailers, which make up the majority of the 2,500 cycle shops in
There are a couple more points to make about this.
The first is that a lot of the spending
If your car needs a new set of windscreen wipers or your bike has a flat tyre, it is not something you can put off or save up for, it is a purchase you need to make immediately.
However, it is clear
Cycling, too, continues to go from strength to strength. While a lot of spending in this area is non-discretionary, the skill of the retailer lies in getting people to trade up or shell out more, which
E-bikes, a line it has been pushing hard, are selling well. The retailer signed
It will be interesting to see in coming weeks whether
Barclays Corporate Banking reported last month that one in three Britons planned to spend more holiday time at home this summer.
Many of those benefiting from an uptick in staycations will be independent bed-and-breakfast providers, but the City will be looking out to see whether some of the larger hotel operators, such as
Meanwhile, there is no doubt that the weaker pound has attracted more foreign tourists to the
So, while the weaker pound has created a headache for some businesses, it is an ill wind that blows nobody any good.
(c) Sky News 2017: <a href="http://news.sky.com/story/halfords-sales-driven-by-staycation-summer-11021633">Halfords sales driven by 'staycation summer'</a>, source