Halfords blames bad weather after suffering sharp cycling sales drop

British retailer has taken an 11% hit in cycling revenue in the eight weeks up to August 28

British retailer Halfords says bad weather is the main cause behind a sharp drop in sales in its cycling range, after the company saw revenues drop by 11% in the eight weeks leading to August 28.

The rainy and inconsistent weather from July to August has deterred casual cyclists from upgrading or buying new equipment the retailer says, as its shares dropped 10% to 459p as the news broke.

Thank you for reading 20 articles this month* Join now for unlimited access

Enjoy your first month for just £1 / $1 / €1

*Read 5 free articles per month without a subscription

Join now for unlimited access

Try first month for just £1 / $1 / €1