LONDON, July 7 (Reuters) - British motor and cycling
products retailer Halfords said underlying sales fell 6.5% in
its first quarter with a rampant performance in bicycles during
the lockdown more than offset by weakness in motoring due to a
major reduction in car journeys.
As a provider of products deemed essential, Halfords
was able to trade through the coronavirus lockdown period. It
said that over the 13 weeks to July 3 cycling sales soared 57.1%
but revenue fell 45.4% in the higher margin motoring division.
Halfords said it remained cautious on the months ahead and
because of the uncertainty that currently exists because of
COVID-19 has withdrawn guidance for the 2020-21 year.
(Reporting by James Davey; editing by Kate Holton)