Bike sales 13 weeks until 13th July ***UP 57.1%. *** >>8 Jul 2020 11:59
So for the results until 3rd April 2020 bike sales had improved by 2.3% as they say here:-
"Cycling sales grew +2.3%, boosted by our H1 investment in store merchandising and bike ranges, improving both the customer experience and the financial returns of the category."
However for the 13 weeks until 13th July they say this :- "Our Cycling business has performed very strongly throughout the period, up +57.1% on a LFL basis, significantly boosted by the avoidance of public transport, favourable weather conditions and increased adoption of cycling as a health and leisure activity. The easing of the lockdown has led to the gradual reopening of schools and workplaces, and while public transport is avoided and road congestion increases, cycling is becoming an essential way of commuting for many people. For consumers with older bikes, which we estimate could amount to 7m in the UK, servicing and repairs have proved an inexpensive and popular way to reengage in cycling, with cycling service-related revenue up 41.9% on a LFL basis in the 4 weeks to 3 July. Alongside mainstream cycling, our performance cycling business, Tredz, has also traded very strongly, up 87.3% year-on-year on a LFL basis, benefitting from the successful transfer of inventory and customers from our Cycle Republic business, which closed in April.".
And they say this about "unprecedented demand" for bikes:-
"We saw a relatively strong performance in Q1, part of which may have been boosted by a pull-forward in cycling sales given the customer response to lockdown and favourable weather conditions during the period. We believe cycling demand will remain strong throughout the year and we will work hard to supply these unprecedented levels of demand."
Halfords does have a very bright future IMHO. The board have painted a conservative view, even though if you pick through the statements it's pretty obvious things are going in the right direction FAST.
All IMHO.