UK retailer Halfords sees bicycle sales surge 59% during crisis

LONDON, Sept 8 (Reuters) - British retailer Halfords said on Tuesday underlying sales of cycling goods surged 59.1% in the 20 weeks to Aug. 21, as people continued to shy away from public transport during the coronavirus pandemic.

It said group like-for-like sales rose 5.0%, with the strong performance in cycling partially offset by a 28.6% fall in motoring products sales, with car journeys limited by the crisis.

Assuming expected demand levels in September and stability in the relative value of the U.S. dollar, first-half underlying pretax profit was forecast to be 35-40 million pounds ($46-52.6 million). ($1 = 0.7607 pounds) (Reporting by James Davey, editing by Louise Heavens)


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