Trade down at Halfords
Published 08/10/2010 | 08:00
Bike to car supplies retailer Halfords pledged to step up its promotional activity after reporting a sharper drop in like-for-like sales over the last quarter.
The group highlighted a tough market for sales of sat-navs and a disappointing performance in its cycles department as it posted a 6.3% decline in like-for-like sales.
This compared with a 4.5% drop in the previous three months, although Halfords said it still expected to grow half-year profits by 12% to between £67m and £69m.