A increase within the recognition of biking through the coronavirus disaster has seen summer time gross sales surge at Halfords.
In response to a newly launched buying and selling replace, the automobile and bicycle elements firm’s gross sales of bikes and cycling gear rose by 59.1% within the 20-week interval to 21 August. And gross sales of electrical bikes and scooters soared by 230% year-on-year.
The increase got here as many different retailers wrestle to outlive the financial upheaval brought on by the pandemic, and is “in sharp distinction” to Halford’s motoring enterprise, which retreated 28.6%, says Cycling Industry News.
General group income rose by 7.5% through the interval, with the retailer anticipating pre-tax revenue for the six months to the top of September to be between £35m and £40m, in contrast with £27.5m in the identical interval final 12 months, the Financial Times studies.
As The Guardian notes, Halfords is having fun with a “purple patch” as buyers purchase new wheels and restore outdated bikes so as to keep away from public transport or get out and about throughout “staycations”.
Firm CEO Graham Stapleton stated that bike gross sales had accelerated over the summer time, with progress reaching 71% in August, and that electrical bikes had been proving more and more fashionable.
“The electrical bike progress has been vital,” Stapleton stated. “Almost one in three of our grownup bikes are electrical towards simply 14% final 12 months, so the proportion we’re promoting has virtually doubled.
“I feel that’s vital as a result of with electrical bikes, it’s not simply leisure, it’s for important use when it comes to getting round and attending to work. On a few of these bikes you’ll be able to journey from 40 miles on one cost.”
Nevertheless, whereas Halfords has benefited from the cycling boom during lockdown, income are anticipated to fall over winter as bike demand wanes.
Stapleton stated: “There’s nonetheless vital uncertainty across the impression of Covid-19 and the macro-economic atmosphere within the coming months, and because of this we’re cautious on the outlook for the rest of this 12 months.”