Halfords chief steps down

Retail chain Halfords today said chief executive David Wild had stepped down as the group warned over profits following a hefty slide in sales.

Halfords chief steps down

Retail chain Halfords today said chief executive David Wild had stepped down as the group warned over profits following a hefty slide in sales.

Mr Wild, who has been in charge for four years, resigned with immediate effect after like-for-like retail sales dropped 7.5% in the 13 weeks to June 29 as the soggy weather impacted sales of cycles and outdoor goods.

The group said it expected sales to be flat at best in the second half of its financial year – leading it to slash profit guidance from around £79m (€100m) to between £62m (€79m) and £70m (€89m).

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