Sign up to our daily newsletters
Read the latest magazine issue
View the newest industry guide
Halfords announces recruitment drive despite fall in profits
Published: by
by

halfordsThe retailer of car parts, touring, mobility and bicycles will be creating 1,000 new jobs despite a 27% drop in annual profits.

Halfords said that in the year ahead it is looking to invest in key areas of growth, including cycling, fitting services and Autocentres, which will accelerate its transition to a “contemporary solutions provider”.

In its preliminary results, the group reported a fall in profits to £92.2 million and a 2.3% drop in retail sales to £752.3 million for the year to March 30.

Halfords admitted that retail sales “have been very disappointing so far”. The company blamed the fall on a lack of demand for cycling and outdoor leisure products.

David Wild, Chief Executive of Halfords, commented on the results:“In a challenging consumer environment we have made good progress in our key growth areas of Leisure, including Cycles, Fitting Services and Autocentres. Our success in these categories and our detailed market research demonstrates how customers appreciate the help and value we offer and our opportunity for further growth.

“As a result we are evolving our strategy to focus on three strategic pillars so that we become the Friend of the Motorist, the Best Cycle Shop in Town and the Starting Point for Great Getaways. In each of these areas we believe we have a unique end to end solution and are well positioned to increase our share in significant markets.

“Halfords continues to be profitable and strongly cash generative and we are seeking to maximise our performance in this demanding retail environment."

 

 

| Comments (0)| Comment
Related Stories
BP hopes to discover future leaders
BP hopes to discover future leaders
BP has today launched a new programme in the hope of finding the company’s next generation of leaders...read more ›
Top 10 jobs parents want for their children
Top 10 jobs parents want for their children
Almost half of parents hope for their children to become doctors one day, a new study has found...read more ›
Mary Beard offers job reference to Twitter troll
Mary Beard offers job reference to Twitter troll
Cambridge Classics Professor, Mary Beard has offered an olive branch to one of her Twitter trolls, by taking the unusual step of offering him a job reference...read more ›
The challenges of F1 recruiting
The challenges of F1 recruiting
Fast cars, global travel, iconic sporting venues, nail biting competition and the thrill of victory – who wouldn't want the opportunity to work as a Formula One engineer?  If you're not an avid fan of the sport, then it’s often easy to overlook the individual elements, processes and most importantly the people, it takes to build a successful race team...read more ›
Advertised salaries rise for first time since jobs crisis
Advertised salaries rise for first time since jobs crisis
Advertised UK salaries have shown the first year-on-year increase since the financial crisis, according to the jobs search engine Adzuna...read more ›
Businesses wasting time and money on face-to-face interviews
Businesses wasting time and money on face-to-face interviews
Businesses could be wasting time and money on unnecessary face-to-face interviews that could be conducted by video...read more ›
600,000 jobs promised in Varsity Line revival plans
600,000 jobs promised in Varsity Line revival plans
The revival of a Cambridge-Oxford rail link is set to create up to 600,000 jobs...read more ›
Engineering jobs up by more than a third
Engineering jobs up by more than a third
According to figures released by recruitment software provider, Recruitive, there has been a surge in the number of UK engineering jobs advertised in July...read more ›