July 7, 2020 / 6:24 AM / a month ago

UK retailer Halfords' sales fall 6.5% in lockdown quarter

LONDON, July 7 (Reuters) - British motor and cycling products retailer Halfords said underlying sales fell 6.5% in its first quarter with a rampant performance in bicycles during the lockdown more than offset by weakness in motoring due to a major reduction in car journeys.

As a provider of products deemed essential, Halfords was able to trade through the coronavirus lockdown period. It said that over the 13 weeks to July 3 cycling sales soared 57.1% but revenue fell 45.4% in the higher margin motoring division.

Halfords said it remained cautious on the months ahead and because of the uncertainty that currently exists because of COVID-19 has withdrawn guidance for the 2020-21 year.

Reporting by James Davey; editing by Kate Holton

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