Global bike shortage set to continue, Halfords chief executive warns | Halfords | The Guardian
Bicycle and motoring retailer’s profits rise 184% to £64.5m after cycle sales surge during Covid pandemic
Sarah Butler Thu 17 Jun 2021
Halfords has warned of ongoing shortages of bikes around the world as it almost tripled profits after a surge in cycle sales during the pandemic.
The bikes and motoring retailer said pretax profits rose 184% to £64.5m in the year to 2 April, as total sales rose almost 14% to £1.3bn.
Growth was led by a 54% rise in sales of cycling products at established stores as the nation turned to two wheels for leisure and to socially distanced alternatives to public transport. Sales of e-bikes and electric scooters were particularly strong – up 94%. The company also repaired and serviced over 1m bikes last year as the nation dug old sets of wheels out of sheds and garages.