Halfords motoring after leaving gloom in its wake

CAR parts and bicycles chain Halfords today defied the retail gloom elsewhere on the high street after boasting better-than-expected first-quarter profits.

Group sales in the 13 weeks to June 27 increased by 1.7 per cent on the same period last year, helped by a pick-up in sales of bikes and camping equipment, together with continued demand for car maintenance products.

When the figures are adjusted to account for the early Easter not being part of the quarter this year, sales would have been three per cent ahead.

The group's acting joint managing directors, Paul McClenaghan and Nick Wharton, said in a statement that the group's first-quarter sales underlined Halfords' "resilient and defensive" business.

"Whilst not immune to the ongoing challenging retail environment, our market leading positions, extensive ranges and unique service proposition continue to provide us with confidence in delivering full year earnings in line with our expectations," they said.