Mobile repair and cycling boom drives surge in Halfords shares

“The potential impact of second waves of Covid now seems more pronounced than just a few weeks ago, and the economic impact of an end to the furlough scheme and the outcome of Brexit negotiations remains very uncertain,” the company said.

Halfords plans to recruit hundreds of new technicians for both its stores and Autocentres, which posted an 18pc rise in like-for-like sales in the five weeks.

Its new Mobile Expert repair service has enjoyed exceptional demand as some drivers seek to avoid going to a garage.

Nicholas Hyett at Hargreaves Lansdown said the success of the mobile service that brings Halfords technicians to your door was is bigger news than the ongoing boom in cycling sales.

“Autocentres has been the group’s growth engine for some time, and with the new mobile offer in its infancy it has the potential to keep expansion ticking over while also encouraging cross-sell into the Autocentres themselves. It’s testament to what the combination of the right product and staff expertise can achieve if delivered at the right time in the right place,” he said.

“We think the group is demonstrating that it has what it takes to survive the car crash engulfing much of the retail sector.”

Halfords reports interim results on Nov 18.

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