Olympic cycling success inspires Halfords sales surge

12 September 2016 - Janet Bird

halfords cycle republic store

Britain's successful cycling Olympians have been credited with helping to inspire a passion for pedal power that helped Halfords to its biggest every week of sales in July.

The sunny weather is also believed to have played a part in driving up revenue, which rose by 4.8 percent in the 20 weeks up to August 19.

The opening of Halford's new Cycle Republic stores across the country, the launch of signature bikes by Olympians Sir Bradley Wiggins and Laura Trott and the purchase of online retailer Tredz and Wheelies also helped the company to record a strong first quarter.

Like for like sales were up 1.9 percent across its cycling division, with total sales showing an 11 percent rise.

Halford's motoring retail division also grew by 0.6 percent. It would have been higher but, although the travel solutions and car maintenance departments grew 1.6 and 4.9 percent respectively, a fall in sat nav sales led to a drop of 3.8 percent in car enhancements and brought the average down.

But with a battery being fitted every two minutes Halford stores were open, performance at its autocentre division showed a 1.8 percent increase in like for like sales.

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