UK's Halfords lowers profit forecast due to weak consumer confidence and adverse weather.
UK automotive and cycling retailer Halfords has lowered its profit forecast for the current financial year due to weak consumer confidence and unusually mild and wet weather affecting footfall and sales. The company now expects underlying pretax profit to fall between £35 million and £40 million, down from a previous range of £48 million to £53 million. Both the cycling and retail motoring markets have been negatively impacted by the factors mentioned, while the autocentres business has remained resilient.
February 28, 2024
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