Halfords blames mild weather and weak demand for profit slip
by Sarah Butler from Economics | The Guardian on (#46P53)
Sales by retailer of car accessories and bikes fall as shares slump to six-year low
More than 120m was wiped off the value of the Halfords bikes and car maintenance chain on Thursday after the retailer issued its second profits warning in a year, blaming mild weather and lower consumer confidence for a fall in sales.
The company's shares slumped by more than 20%, to a six-year low of 217p, as the retailer said that its profits would be only around 60m this year, rather than the 70m City retail analysts had expected.
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