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Here’s Why Halfords Share Price Tumbled Today

fundamentale analyse
Nigel F

Shares of Halfords Group PLC (LON: HFD) tumbled 5% on Tuesday after the retailer warned that “significant uncertainty” remained for the second half of its 2020-21 year.

Halfords saw bicycle sales surge by 59% on almost five months leading to August 21. Group like-for-like sales soared by 5% as sales of motoring products plunged by 28.6%, therefore offsetting gains in the bicycle unit.

“Given the natural fall-off in the relative strength of cycling and staycation products during winter months, alongside a difficult economic outlook, H2 FY21 profit before tax could be significantly lower than H1 FY21,” the firm said in a statement.

In line with the global trend, Halfords witnessed a jump of 160% in online sales as sales of electric bikes and scooters skyrocketed 230%.

Halfords stock price tumbled 5% on the warning of “significant uncertainty" September 2020

Halfords share price is currently trading more than 4% lower after the buyers printed a fresh 3-month high above the 190p mark.

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.