Halfords is a growth business operating largely in product markets with structural drivers where it has a differentiated service model. Even discretionary areas should see staycation benefits in FY18 (already in evidence). Unlike many it is profitable almost every month of the year. FY results, which include a large FX drag and no Easters, are a smidge ahead of expectations. Mitigation initiatives are confidently expected to fully offset the COGS inflation though, in stark contrast to consensus, ....
25 May 2017
N+1 Singer - Halfords Group - Confidence in FX mitigations + staycation benefits
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N+1 Singer - Halfords Group - Confidence in FX mitigations + staycation benefits
Halfords Group Plc (HFD:LON) | 155 3.1 1.3% | Mkt Cap: 339.3m
- Published:
25 May 2017 -
Author:
Matthew McEachran -
Pages:
4
Halfords is a growth business operating largely in product markets with structural drivers where it has a differentiated service model. Even discretionary areas should see staycation benefits in FY18 (already in evidence). Unlike many it is profitable almost every month of the year. FY results, which include a large FX drag and no Easters, are a smidge ahead of expectations. Mitigation initiatives are confidently expected to fully offset the COGS inflation though, in stark contrast to consensus, ....