Cycling

UK's Halfords bumps up profit outlook ahead of Christmas

Summarized by: Live Sports Direct
 
UK's Halfords bumps up profit outlook ahead of Christmas

Halfords boosted its annual forecast for 2022. Halfords shares jumped 11%. Halford's is the UK's largest cycling retailer. It is betting on sales of kids bikes and e-bikes to drive earnings through Christmas. The company has benefited from a surge in cycling during the COVID-19 pandemic. The number of people cycling for sport, leisure or travel rose above 7.5 million in England last year. More customers are switching to electric forms of transport. Sales of e bikes, e scooters and accessories have grown by more than 140%.

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