Halfords revenues rise, offsetting impact of weaker pound
Halfords said full-year profit will be in line with market expectations and all financial guidance remains unchanged.
Company
LON:HFD
Halfords Group PLC is engaged in the retailing of auto, leisure and cycling products. The principal activity of the Company is that of a holding company. During the fiscal year ended March 28, 2008, the Company operated from 430 stores in the United Kingdom via overseas branches, 17 stores in the Republic of Ireland and three in the Czech Republic. Its product portfolio consists of three categories: car maintenance (including car parts, servicing consumables), car enhancement (including in-car entertainment systems, cleaning products, accessories, interior and exterior car styling products) and leisure (including cycles and cycle accessories and roof boxes, cycle carriers, child car seats and outdoor leisure equipment).
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Halfords said full-year profit will be in line with market expectations and all financial guidance remains unchanged.
After a bullish run over the past few months, European and US markets endured a rare off day on Thursday
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Jenkins departed after just six months in the role, and only weeks after former Halfords' boss Jill McDonald took up the new position of Managing Director, Clothing, Home & Beauty at M&S on October 2
The FTSE 250-listed retailer said Stapleton will succeed Jill McDonald who is leaving Halfords to run Marks & Spencer PLC's clothing business
The broker cited valuation grounds for its change of stance given recent share price falls by Halfords - with the stock down 7% in the past three months – as it maintained its target price at 340p
Redrow shares rose 3.3%, meanwhile, Halfords and Aveva were also among the notable risers.
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Day ahead includes trading updates from retailer Halfords Group PLC and packaging firm DS Smith PLC, plus full-year results from housebuilder Redrow PLC
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For the year to March 31, the FTSE 250-listed company posted pre-tax profits before one-off items of £75.4mln, down from £81.5mln a year earlier, although that was slightly ahead of market expectations for £74.8mln
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Among the big retail names reporting are Burberry, Halfords and Pets at Home.
Chief executive Jill McDonald described the sales performance as "strong" and said it improved through the period. But she warned the tumble of the value of the pound post-Brexit will continue to "bring cost headwinds".
The bank cut Next to 'hold' from ' buy', and reduced bicycles to car parts retailer Halfords Group and department stores group Debenhams both to 'sell' from 'hold'
FTSE 100 and small-cap stocks ended at fresh record highs on Tuesday, the first session of 2017, after being buoyed by higher Wall Street on bullish US factory data, 18-month high oil prices and even bumper Chinese data
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Liberum slides under bikes, cars and maintenance firm Halfords Group PLC and repeats a 'sell', although the broker says there are some clear positives about the group, including a healthy balance sheet.
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Berenberg pumps up cycle and car parts firm Halfords (LON:HFD) today, upgrading the shares to 'hold' from 'sell'. The German bank however clips back the target price on the retailer to 375p from 430p.
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A first quarter trading statement from bikes and car part firm Halfords, while luxury clothes brand Burberry also updates the market.
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We're a bit light on scheduled reports from multi-national leviathans this week, but some well-known national names - such as Dixons, Halfords and Bellway - are expected to report.