It’s tough on the high street. Halfords, the car accessories and bike retailer, features as Operations Insight 5.4 (p. 135-137) in the book. The company has just reported a 27% fall in annual profits. In the 12 months to 31 March, the firm’s pre-tax profit totalled £92m, down from £126m a year earlier and its revenues were 1% lower at £863m.
Halfords has 467 stores across the UK and Republic of Ireland and employs 12,000 people. Even though times are tough it has no plans to close any stores, nor to shed any employees. This compares well with other sectors of the retail industry, such as clothing, who have found trading conditions even more challenging.