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Jul.28,2010
A deserted Halfords Store
Auto part supplier Halfords today announced a 2.2% slump in sales, blaming factors such as the general election and the World Cup.
The Redditch based company confirmed the decline causing shares to also drop by 2% this is despite cost cutting methods undertaken by the brand earlier this year.
Staff working hour changes cut almost £2 million from the annual wage bill and a new warehouse that should be operational by September could save a further £4 million.
Chief Executive David Wild said:
"Halfords experienced a sluggish start to the spring season reflecting poor weather in April and consumer nervousness ahead of the election and subsequent emergency budget."
Halfords were also eager to point out that delay in deliveries from South-East Asia will also have impacted on figures.
The main source of Business for the chain is currently said to be motorbike repairs/spare parts but with increasingly cheaper and easier options such as BikeSpareFinder, who will search dealers and breakers nationwide to find the part and give you a choice of prices.
It is easy to see why people would rather do this as it doesn’t involve having to leave your computer screen.
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