Slump in bike sales hits Halfords profits in UK

Retailer Halfords has been left nursing a fall in half-year profits after seeing bike sales slump in the UK and said earnings in the next financial year were also unlikely to grow.

But recently hired boss Jill McDonald put faith in a new turnaround plan to get its performance back on track, including a renewed push in the bike sector, with Olympian and Tour de France champion Bradley Wiggins signed up to launch a new children’s range.