New chief blames discounting and rain-sodden summer for sales woes but insists slowdown is merely a blip

Halfords has blamed a sharp fall in its sales of bicycles and cycling equipment over the summer on bad weather that deterred casual cyclists from taking to the road or upgrading their kit.

In an unscheduled trading statement, Halfords said cycling revenues at stores open for a year or more fell 11% in the eight weeks to 28 August. The company, which is under new leadership, said discounting in the market was also a factor.

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Source: The Guardian Circular Economy RSS