Sep 8, 2021
Halfords and Dunelm warn over shortages of goods and labour
Retailer Halfords reported low availability of bikes throughout its last financial year as the "Global cycling supply chain continues to experience considerable capacity constraints". Like-for-like sales of bikes in Halfords' latest financial year dropped 23 per cent from a year ago, although were still up 24 per cent from its pre-pandemic level of two years ago. They have risen 26 per cent so far this year, and are up 88 per cent over the past 12 months after repeated lockdowns in the UK along with government incentive schemes led to a boom in bicycle sales. Halfords said total sales rose 10.5 per cent in the 20 weeks to August 20 when compared with the same period a year earlier, and were up 18.7 per cent from two years ago. The group expected full-year profit before tax to be above £75m. Dunelm said trading in the first 10 weeks had been "Encouraging" and that profit for the current year would be "Modestly ahead" of the highest analyst forecasts, while Bakkavor made no changes to its full-year outlook.
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