Halfords' Cycling Slowdown Shows Brits Are Shifting Gears: Chartby
Cost-containment measures boosted Halfords Group Plc shares Thursday, though a cycling slowdown could weigh on long-term prospects for the U.K. bikes to car-parts retailer.
Bike sales surged after Britain’s gold-medal cycling haul at the London 2012 Olympic Games. Absent another catalyst, Halfords needs to ease concerns of analysts including Canaccord Genuity’s David Jeary that sluggish bike sales are “the start of a trend.”
The shares still rose as much as 11 percent in London as the company maintained its profit forecast for the year.
(An earlier version of the story corrected the analyst’s employer)