Cycling market "significantly worse than expected", Halfords warns — with "high-profile failure of Wiggle" and widespread sales evidence of "another year of decline"
Overall, Halfords' pre-tax profits fell by 18 per cent to £36.1 million, the retailer's 'Autocentre' car servicing offering named as "the star performer again".
Halfords says it"further cemented leadership of the UK cycling market" and also reported its Cycle2Work revenue had risen 8.3 per cent year-on-year. Likewise, likely aided by Wiggle's demise, Halfords-owned online retailer Tredz saw sales rise 11.1 per cent. My old local bike shop no longer exists sadly. One of the last times I went there I was told how the average person replaces their bike every three years. I don't know what the reality is, but I'd imagine a lot of people already have bikes and simply don't see a need to replace them. The only reason I replaced my 14 year old Specialized Roubaix commuting bike last year was because of being involved in a crash cycling home from work.