Annual revenues at Halfords increased marginally to April 3rd, coming in at £1.15bn, a rise of just 0.3 per cent.
Demand for cycles and related accessories rose during the lockdown period, however motoring related sales plummeted by 45.4 per cent as consumers used their cars less.
“The start of the current financial year has, of course, been dominated by the impact of Covid-19, and our status as an essential retailer was a clear endorsement of the wider role that Halfords has to play in keeping the UK moving,” said Halfords CEO Graham Stapleton.
The business is now seeing an uplift in demand for its motoring related services as people begin to travel more with lockdown easing.
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