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Halfords maintains full-year guidance as sales rise

Halfords maintains full-year guidance as sales rise
FILE PHOTO: A Halfords sign is seen outside a store in London, Britain April 10, 2016. REUTERS/Stefan Wermuth   -   Copyright  Stefan Wermuth(Reuters)
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LONDON (Reuters) – British bicycles-to-car-parts retailer Halfords <HFD.L> maintained its full-year profit guidance on Tuesday as it reported a rise in underlying sales in a tough trading environment.

Halfords, which issued a profit warning in May, said group like-for-like sales rose 2.8 percent in the 20 weeks to August 17, with retail sales on the same basis up 2.6 percent.

“Our guidance for the current year is unchanged and we continue to anticipate FY19 underlying profit before tax to be broadly in line with FY18,” it said.

New chief executive Graham Stapleton said he would update on strategy at a capital markets event on Sept. 27.

(Reporting by James Davey, Editing by Paul Sandle)

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