Interim Management Statement out today - http://www.stockopedia.co.uk/news/announcement/HFD/090729hfd000697.htm
- Group sales in the quarter increased by 3.1% compared to the 13-week period to 27 June 2008 with like-for-like sales growth of 1.3%.
- Adjusting for the impact of Easter, sales increased by 1.9% representing like-for-like sales growth of 0.1%.
- Demand for cycles and car maintenance products were offset by a fall in sales of car enhancement products and weak trading in central Europe.
- David Wild, Chief Executive Officer, commented: "This performance represents a solid start to the year and at this early stage is ahead of our internal plan. The trading of our core categories of Car Maintenance and Cycling, where we continue to grow market share, together with a good start to the season in Camping, is pleasing. As demonstrated by the continued accretion of gross margin and ongoing cost management we remain in control of the direction of the business. We remain cautious about the impact of the macro economic environment, particularly in the second half of the year and in our overseas territories where sales remain challenging. Nevertheless, we are confident that Halfords will both continue to consolidate share and is well positioned to deliver earnings growth for the year."