Olympic-Inspired Cycling Boom Boosts Sales By Nearly 20% At Halfords
The Olympics-inspired cycling boom "continues to power cycle sales," according to Verity Ratcliffe of the FINANCIAL TIMES. Bike brands fronted by Olympians Victoria Pendleton and Chris Boardman "have performed particularly well at Halfords." Halfords CEO Matt Davies said, "We saw 137 percent growth across Pendleton [bikes]." Boardman sales "doubled in the three-month period." Halfords reported "strong Christmas trading figures as cycle sales continued to boost overall performance." Like-for-like sales rose 5.2% in the 15 weeks to Jan. 10. Like-for-like cycle sales were nearly 20% higher at the end of last year. Premium bike sales rose 31%, while children’s bike sales increased nearly 15%. Halfords expects sporting events this year "to have a similar effect on sales." Davies: "It’s going to be another strong year of cycling for us. We’ve got the Tour de France in Yorkshire and the Commonwealth Games coming up. We’re setting ourselves up to really take advantage of that" (FT, 1/16).