Halfords gets sales boost as Rio Olympic golds get Brits back on their bikes

Wheel appeal: Four-time Olympic champion Laura Trott has collaborated with Halfords on a range of bikes

(Bryn Lennon/Getty Images)

6 September 2016

Britain’s Olympic success in the Rio velodrome helped Halfords’ sales step up a gear this summer, with cycling sales accelerating 11% so far this year.

Ranges by gold medal winners, Sir Bradley Wiggins and Laura Trott, launched just in time for the Brazilian games ensured a strong peak cycling season for the group and offset weaker sales in the months before the Olympics.

Good weather, deeper promotions, new Cycle Republic stores and the addition of Tredz — the online retailer Halfords bought in May — also played a role.

Halfords chief executive Jill McDonald said it was too early to evaluate the full Olympic effect as today’s figures only cover up to August 19, two days before the end of the event.

In the past, Olympic fever has outlasted the games themselves, she added.

McDonald said Halfords’ motoring arm had also performed well as holidaymakers stocked up on roof racks, cycling carriers and child seats for trips.

Overall group like-for-like sales were up 4.8% in the first five months of its financial year.

The shares rose 7.4p to 379.4p, but Liberum said the figures were up against “very weak” comparatives. “We retain our cautious stance as we see better value elsewhere in the retail market,” the broker said.

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