Halfords boss steps down as sales slide

The chief executive of Halfords, David Wild, has stepped down as the group announced a profits warning 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 7.8% in the 13 weeks to June 29th 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 £79 million to between £62 million and £70 million.

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