Articles tagged bikes

Halfords reveals H1 profit freefall

Profits at Halfords dropped by more than 20 per cent in the first half as a sales boost brought on by British cycling successes in the Tour de France and the Olympics was counteracted by higher costs.

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Wiggle set to appoint UBS ahead of possible floatation

The deal by Wiggle majority shareholder Isis Equity Partners is “as good as done” according to Sky News, who reported on the expected appointment of UBS this morning. The news will bolster rumours that a floatation could be on the cards for the bike etailer, which could be valued in excess of £200 million.

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A poor Christmas for sales of children's bicycles saw Halfords forecast disappointing profits. The group said cycle sales slumped 16 per cent on a like-for-like basis as fewer bikes were given as presents and premium products were affected by a slowdown in Cycle-to-Work sales. The weakness in bicycles offset strong car maintenance sales, up 12 per cent, as the chain helped customers cope with the difficult winter conditions.Read more on Daily Mail.

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