Halfords Cuts Profit Guidance Amid Challenging Consumer Backdrop [MarketWatch]
HALFORDS GROUP UNSP/ADR (HLFDY)
NASDAQ:AMEX Investor Relations:
halfordscompany.com/investors
Company Research
Source: MarketWatch
The motoring-and-cycling products provider said Wednesday that it expects underlying pretax profit--its preferred metric, which strips out exceptional and other one-off items--for the 52 weeks ending March 29 to be in the range of 35 million to 40 million pounds ($44.4 million and $50.7 million). Advertisement In November, the company cut its expectations to a range GBP48 million-GBP53 million from a previous range of GBP48 million-GBP58 million. The company said the cut to its profit expectations was driven by its cycling and retail motoring markets, with the combination of continued weak customer confidence and unusually mild and very wet weather hitting footfall into stores and sales. The cycling market has become more challenging and competitive as it continues to consolidate, Halfords said. "Looking ahead to fiscal 2025, we remain cautious on market recovery in the short-term, and the current significant volatility in market conditions means that forecasting accurately
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