LONDON: British retailer Halfords said on Tuesday underlying sales of cycling goods surged 59.1% in the 20 weeks to Aug. 21, as people continued to shy away from public transport during the coronavirus pandemic.
It said group like-for-like sales rose 5.0%, with the strong performance in cycling partially offset by a 28.6% fall in motoring products sales, with car journeys limited by the crisis.
Assuming expected demand levels in September and stability in the relative value of the U.S. dollar, first-half underlying pretax profit was forecast to be 35-40 million pounds ($46-52.6 million).
($1 = 0.7607 pounds)
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