The cycling specialist said that a switch-up to selling more "needs-based" items was key as the firm must become less "reliant and exposed to the volatility of more discretionary product markets".
It warned it was expecting its full year underlying profit before tax to be at the lower end of its £65m-£75m range.
The retailer had continued to see "resilient" sales in its more needs-based categories but had clocked a "softening" in less essential areas, it said yesterday. While it was "challenging" to predict what consumer confidence would be like for the rest of the 2023 financial year,
In results for the six months until the end of September,
In addition to revealing financial results,
Chief executive
Shares closed down over seven per cent yesterday after the update.
(c) 2022 City A.M., source