Halfords Group (HFD)

Sector:

Retailers

Index:

FTSE Small Cap

132.40p
   
  • Change Today:
    -3.40p
  • 52 Week High: 233.20
  • 52 Week Low: 131.00
  • Currency: UK Pounds
  • Shares Issued: 218.93m
  • Volume: 581,358
  • Market Cap: £289.86m
  • RiskGrade: 239
  • Beta: 1.42

Halfords Christmas sales slump as customers hit the brakes

By Frank Prenesti

Date: Thursday 25 Jan 2024

LONDON (ShareCast) - (Sharecast News) - UK car parts and bike retailer Halfords on Thursday reported weaker-than-expected third-quarter sales, driven by a poor Christmas as customers reined in discretionary spending amid the cost-of-living crisis.
December like-for-like (LFL) sales slumped more than 15%, although the start of the fourth quarter returned to growth, the company said in a trading update.

"Whilst October and November sales were strong, sales in December were much weaker, driven by a combination of mild and wet weather impacting demand for winter products and footfall into stores, and customers balancing difficult spending decisions in the lead up to Christmas," the company said.

Its retail motoring division saw average LFL growth of 10.2% in October and November before the December decline.

"In January, we have seen sales growth in Retail Motoring return to the levels seen in October and November as conditions normalised," Halfords said.

Group revenue rose 2% on a like-for-like basis in the three months to December, with stronger sales in motoring and needs-based categories partly offset by weaker spend in discretionary areas.

The full-year profit forecast was maintained as it implemented more cost-saving measures and saw continued momentum in its motoring services unit.

Halfords expects its adjusted pre-tax profit for calendar 2023 of £48m - £53m.

"Whilst Q3 sales were below expectations, a strong start to Q4 trading, further cost action and resilient areas such as B2B performing well, mean that we are confident in the Q4 outlook," the company said.

Reporting by Frank Prenesti for Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Halfords Group Market Data

Currency UK Pounds
Share Price 132.40p
Change Today -3.40p
% Change -2.50 %
52 Week High 233.20
52 Week Low 131.00
Volume 581,358
Shares Issued 218.93m
Market Cap £289.86m
Beta 1.42
RiskGrade 239

Halfords Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.73% above the market average35.73% above the market average35.73% above the market average35.73% above the market average35.73% above the market average
41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average
Price Trend
53.86% below the market average53.86% below the market average53.86% below the market average53.86% below the market average53.86% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Income
18.54% above the market average18.54% above the market average18.54% above the market average18.54% above the market average18.54% above the market average
40% below the sector average40% below the sector average40% below the sector average40% below the sector average40% below the sector average
Growth
60.49% below the market average60.49% below the market average60.49% below the market average60.49% below the market average60.49% below the market average
28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 1
Strong Sell 1
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Halfords Group Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Aug-24 14-Dec-23
Paid 13-Sep-24 19-Jan-24
Amount 5.00p 3.00p

Trades for 21-Nov-2024

Time Volume / Share Price
16:35 169,624 @ 132.40p
16:35 3,890 @ 132.40p
16:35 2,150 @ 132.40p
16:35 1,017 @ 132.40p
16:35 1,675 @ 132.40p

Halfords Group Key Personnel

CEO Graham Stapleton
CFO Jo Hartley

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