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Halfords sales go flat: Autocentres still supporting group, but tyre sales down

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Halfords Group’s like-for-like sales during the first six months of 2025 were flat (-0.1%). Those figures compare with a strong period the year before where first-half 2024 like-for-like sales grew 8.3 per cent. Writing in a trading update for the 26 weeks to 27 September 2024 and published 22 October 2024, essentially the company’s first-half 2025 figures, executives shared how their “controlling the controllables” plan is on-track. However, financial analysts noted that “consumers are still cautious” and that Halfords’ group’s in-line results are due to cost-savings rather than revenue growth.

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Related news:

  1. Halfords Autocentres revenue up 70% year-on-year; 14.3% like-for-like
  2. Recruitment roadblock reduces Halfords profitability, but tyres continue to drive growth
  3. Bridgestone invests $3 million in Halfords’ Avayler system
  4. Halfords reports £1 billion annual group revenues, a year earlier than planned
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Halfords shares plummet after consumer tyre-related profit warning, but Autocentres remain ‘bright spot’

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Halfords Group’s share price fell by around a quarter in response to an unexpected profit warning notice on 28 February, which suggested Halfords would make substantially less profit than the firm forecast roughly a month earlier. At least part of the reason for the profit warning was softening demand in the consumer tyre sector. Halfords stock recovered slightly in early trading on the morning of 29 February, however the five-day chart shows that the company’s share price remains around a quarter down.

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Related news:

  1. Halfords Sales Reach £831.6 million Supported by Nationwide Acquisition
  2. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  3. Halfords’ major tyre retail play
  4. Lodge Tyres consolidated in 2020, growing in 2021
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Halfords issues surprise consumer tyre-related profit warning

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Halfords

After years of strong and often tyre-driven profit growth, Halfords Group plc has warned investors that “further material weakening” in “cycling, retail motoring and consumer tyres” will result in “a significant drop in like-for-like revenue growth”. As a result, that specifically means £13 million less “underlying profit before tax (PBT)”, than previously stated or PBT “in the range of £35-40 million”.

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Related news:

  1. Halfords Buys Nationwide Autocentres for £73.2 million
  2. Nationwide Autocentre Purchase Brings Halfords Full Circle
  3. Halfords and Mobivia forge long term sourcing alliance
  4. Halfords’ major tyre retail play
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Halfords accelerates Autocentre investment after strong first-half 2024 results

Halfords Groups reports that its “strong” first-half 2024 financial performance was driven by “substantial revenue and profit growth through increased market share” and “optimisation of our Autocentres business”. And that means we can expect accelerated capital investment in Autocentres moving forward.

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Related news:

  1. Halfords Buys Nationwide Autocentres for £73.2 million
  2. Halfords relaunches trade card
  3. Halfords Autocentres makes first Dallaglio Foundation-linked appointment
  4. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
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Top 10 tyre retailers 2023: Halfords closing in on pole position

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First Stop

Kwik Fit and its other ETEL-related brands (Tyre City, Tyre Pros and Central Tyre) have dominated the UK tyre retail landscape for years. More recently, Halfords has made our annual tyre retail ranking a two-horse race. However, Michelin’s ATS Euromaster network remains a significant player and other chains such as the Micheldever- and ultimately Sumitomo-owned Protyre have grown consistently over a long period of time. But none of that tells the whole story. While big chains generate significant levels of value and volume, franchise networks like HiQ and First Stop represent another dimension. And medium-sized chains are often so good at what they do that they end up being bought by larger businesses at a premium. And yet none of that reflects the importance of the vast majority of the market – the independent tyre businesses with one or two centres. That’s why June’s Tyres & Accessories aimed to present a more panoramic view of the undeniably indispensable tyre retail business. Here, T&A presents our annual tyre retail ranking as a way of keeping you informed of the lay of the land in the ever-changing tyre retail landscape.

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Related news:

  1. Top 10 UK tyre retailers 2022 – growing fast
  2. The top 10 UK tyre retail chains 2021
  3. Micheldever/Protyre moves up to fourth, Lodge Tyres jumps in retail rankings
  4. Tyre retail market in a redistribution phase
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Recruitment roadblock reduces Halfords profitability, but tyres continue to drive growth

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Halfords

Halfords Group plc (Halfords)’s third-quarter 2023 trading update for the 13 weeks to 30 December 2022 show that group revenue grew 38.3 per cent and like-for-like group sales were up 12.6 per cent compared with 2020 levels. Other headlines included the news that Halfords’s services business represents 50.3 per cent of group revenue, and B2B, which includes the Avayler system 28.2 per cent. At the same time, Halfords hailed its “strong Commercial Fleet performance”, with this part of the business growing 138 per cent year-on-year. However, the company reduced its full-year 2023 underlying profit before tax (PBT) guidance from £60 million to £50 million.

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Related news:

  1. Halfords ‘motoring revenue’ will be 70% post National Tyres acquisition
  2. Autocentres continue to drive Halfords sales post National Tyres purchase
  3. Halfords investing £3.5 million in creating 1000 automotive technician roles
  4. Halfords investing up to £81 million in Axle Group acquisition
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Halfords Autocentres revenue up 70% year-on-year; 14.3% like-for-like

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Halfords

Halfords Group has reported very strong financial figures that show group revenues amounted to £765.7 million in the first half of 2023. Of this figure, £265.2 million was generated by the Halfords Autocentres business. And what’s more, the latest projections suggest that the services part of the wider Halfords group, within which Autocentres is found, will account for the majority of revenue by 2024. Currently service-related sales represent 42.6 per cent of group revenues in the period and are expected to reach circa 48 per cent of sales on an annualised basis following the acquisition of Lodge Tyre.

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Related news:

  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  2. Halfords Autocentres reports 89.6% increase in pre-tax profit – next stop ‘market leadership’
  3. Lodge Tyres consolidated in 2020, growing in 2021
  4. Autocentres continue to drive Halfords sales post National Tyres purchase
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Halfords investing £3.5 million in creating 1000 automotive technician roles

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Halfords

Halfords has embarked on a recruitment drive for its autocentres business to meet rapidly increasing demand for vehicle servicing, MOTs, maintenance and repairs. That means Halfords is creating 1000 new automotive technician roles over the next 12 months and is prioritising attracting retirees back into the workforce as well as challenging itself to increase the number of women in automotive technician roles. The recruitment drive, which will also target disadvantaged young people, is being backed by £3.5 million of technician training and recruitment investment over next 12 months.

Read more

Related news:

  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  2. Halfords Buys Nationwide Autocentres for £73.2 million
  3. Randall appointed managing director of Halfords Autocentres
  4. Halfords Autocentres makes first Dallaglio Foundation-linked appointment
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Halfords acquires Lodge Tyre

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Halfords Group plc has made a further tyre sector acquisition with its purchase of LTC Trading Holdings Limited and subsidiary Lodge Tyre Company for £37.2 million. The addition of Lodge Tyre’s 50 garages and 248 mobile vans takes the Halfords garage services business to 656 garages, 253 consumer vans, 440 commercial vans and nine warehouses.

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Related news:

  1. Lodge Tyres consolidated in 2020, growing in 2021
  2. Halfords extends Mobile Expert ‘garage on wheels’ across London
  3. Top 10 UK tyre retailers 2022 – growing fast
  4. Halfords’ major tyre retail play
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Top 10 UK tyre retailers 2022 – growing fast

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Times have been tough in the last couple of years, but if the growth of the top 25 tyre retailers in the UK is anything to go by, the nation’s leading tyre retail businesses are taking triumph from adversity. Of course, Halfords’ acquisition of National Tyres and Autocare’s parent company at the end of 2021 makes up a big part of the new UK tyre retail landscape, but it is clear that adding branches to existing networks (either by organic growth or by acquisition) is a common theme across the board.

Read more

Related news:

  1. The top 10 UK tyre retail chains 2021
  2. Micheldever/Protyre moves up to fourth, Lodge Tyres jumps in retail rankings
  3. ETEL continues to lead top 20 UK tyre retailers 2019
  4. Halfords charges into second place in the 2020 UK tyre retail ranking
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Halfords apprentice of the year joins Halfords racing Cataclean team for season

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Halfords

19-year-old Cameron Palmer from Ashbourne, Derbyshire, has been crowned the 2022 Halfords BTCC Apprentice of the Year competition winner. Cameron, who is a Level Three apprentice and has been based at the Wyvern Halfords Autocentre in Derby for the past six months, fought off competition from apprentices all over the country to come out on top.

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Related news:

  1. Halfords Autocentres crowns NVQ graduate in record year for apprentice programme
  2. Apprenticeships ‘too important just to be an election promise’
  3. Bosch’s first automotive apprentices graduate         
  4. Budget 2021: Corporation tax up, but business rates frozen – what it means for tyre businesses
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Greg Ward joins Halfords

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Greg Ward has joined the Halfords Autocentres business, where the experienced truck, bus and agricultural tyre specialist will be commercial sales director.

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Related news:

  1. Lodge Tyres consolidated in 2020, growing in 2021
  2. Goodyear and Halfords moves represent the virtualization of the tyre distribution chain
  3. Halfords buys National Tyres and Autocare in £62 million deal
  4. Autocentres continue to drive Halfords sales post National Tyres purchase
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Autocentres continue to drive Halfords sales post National Tyres purchase

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Halfords

Halfords Group plc has reported strong group sales up 10.4 per cent like-for-like over two years driven by “an outstanding Autocentres performance through the third quarter 2021 MOT peak.” Indeed, ‘Motoring services’ now account for 70 per cent of sales due to the combination of Autocentres growth and the recent National Tyres purchase. Not only do these movements reflect Halfords’ efforts to lead the tyre retail/motoring services market, but represent steps towards the creation of motoring retail “fusion towns.

Read more

Related news:

  1. Halfords buys National Tyres and Autocare in £62 million deal
  2. Halfords investing up to £81 million in Axle Group acquisition
  3. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  4. Halfords Autocentres reports 89.6% increase in pre-tax profit – next stop ‘market leadership’
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National Tyres, Iverson garages to be re-branded as Halfords Autocentres

Halfords Group

In light of the news of Halfords acquisition of National Tyres and Iverson Tyres, Tyres & Accessories contacted various National Tyres and Halfords executives for comment on the subjects of branding and branch closures. In response, company spokesperson confirmed that the bulk of Axle Group businesses will be rebranded under the Halfords moniker with one or two exceptions.

Read more

Related news:

  1. Iverson Tyres also bought by Halfords
  2. Halfords buys National Tyres and Autocare in £62 million deal
  3. Halfords ‘motoring revenue’ will be 70% post National Tyres acquisition
  4. Halfords investing up to £81 million in Axle Group acquisition
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Halfords investing up to £81 million in Axle Group acquisition

Halfords

Following the news that Halfords Group is buying Axle Group Holdings Ltd including 239 National Tyres garages and 60 mobile tyre fitting vans, further details relating to the transaction have emerged. Firstly, while company announcements refer to the purchase of “National”, Halfords’ latest acquisition actually sees the company purchase the entire issued share capital of Axle Group Holdings Ltd (“National”) for £62 million. And the transaction is expected to be completed on 9 December 2021.

Read more

Related news:

  1. Halfords buys National Tyres and Autocare in £62 million deal
  2. Axle Group investing £12 million in acquisition strategy
  3. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  4. Halfords ‘motoring revenue’ will be 70% post National Tyres acquisition
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