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The surge in cycling during the pandemic has helped UK retailer Halfords to double its profits.
Since the 5th of November we have seen some impact on trading as the second national lockdown came into force. Cycling has continued to grow; we saw an immediate upturn in our Mobile Expert business; and we have seen another shift towards our digital and home delivery channels.
However, sales of motoring products have been impacted, with Government data showing car traffic last week at 70% of pre-Covid-19 levels
As a sign of our confidence in the long-term prospects of our motoring business, and in order to meet the growing demand for our services in this area, we are in the process of recruiting to fill a wide range of service-oriented roles across our stores, Autocentres and fleet of Halfords Mobile Expert vans.
We are also making a substantial investment in further training for existing colleagues, including in the rapidly growing area of electric vehicle servicing as we work to fill the skills gap that exists in the UK. We will be training 100 more electric car technicians next year, bringing the total to 470.
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With several US states implementing further restrictions and a further 70 000 hospitalisation cases, the impact on the economy remains in play.Continue reading...