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 sales dip as consumers cautious ahead of Budget

By Michele Maatouk

Date: Tuesday 22 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Halfords reported a small dip in sales on Tuesday as it said consumers remained cautious ahead of the Budget.
In the 26 weeks to 27 September, group like-for-like sales nudged down 0.1% versus "strong" prior year comparatives, when sales rose 8.3%.

Halfords said Autocentres delivered LFL sales growth of 0.8% against "exceptionally strong" 18% growth in the same period a year ago.

It pointed to strong growth in services, maintenance and repair but said tyres remained challenging as "price-conscious" customers traded down into budget ranges and due to elevated promotional activity in the premium market. The retailer also said that high levels of technician wage inflation persisted.

In the retail business, which accounts for around 60% of group revenue, LFL sales declined 0.7% following the UK's wettest spring since 1986.

Halfords said motoring products proved more resilient than expected, while leisure cycling remained challenging and performance cycling continued to outperform, with positive LFLs in Tredz.

The company said it was on track to deliver £30m of targeted full-year savings to mitigate around £35m of expected inflation.

Chief executive Graham Stapleton said: "While consumers remain cautious in their discretionary spending compounded by uncertainty around the contents of the upcoming Autumn Budget, we have continued to focus on controlling the controllables and I am pleased with our performance in the first half of FY25.

"Our services and B2B-led strategy has supported Halfords' growth despite two of our core markets remaining significantly below pre-Covid levels, enabling us to absorb more than £130m of inflation since FY20 while maintaining a strong balance sheet. In this environment we are focused on optimising the existing platform to drive near-term returns, while accelerating our investment in the Fusion concept to position us for growth in the coming years."

At 0915 BST, the shares were up 2.8% at 146p.

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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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