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    HFD   GB00B012TP20

HALFORDS GROUP PLC

(HFD)
  Report
Delayed Quote. Delayed London Stock Exchange - 09/22 04:41:50 am
301.2 GBX   -1.25%
09/21HALFORDS GROUP PLC : Director/PDMR shareholding -2-
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09/21HALFORDS GROUP PLC : Director/PDMR shareholding
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09/09HALFORDS : AGM voting results 2021
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Halfords Group PLC : Annual Financial Report -2-

07/29/2021 | 02:11am EDT

If we continue to lose brand relevance, we will be unable to maintain and grow our customer base and build market share.

Current Mitigation                                                                         Focus in 2022 
                                                                                           * Continued investment in a 
                                                                                           Group services marketing 
                                                                                           campaign. 
 
                                                                                           * A greater focus on E-bike 
* Building on a positive response to our status as an essential retailer, we have grown    and E-scooter product 
awareness of our HME and garage services. Customer loyalty and satisfaction has achieved   sales, alongside a more 
record levels for Trust Pilot and Google scores for the Group                              general electric vehicle 
                                                                                           servicing strategy 
 
 
* Improvement of our cycling proposition, allied with better than market availability and 
support for the cycle voucher scheme, has strengthened market share.                       * Investment in fair pricing 
                                                                                           for motoring products. 
 
                                                                                           * Improve climate change 
                                                                                           credentials with ESG targets 
                                                                                           defined. 

Sustainable Business Model

Changes in the UK economy (including COVID-19, consumer confidence, tax and duty rates and the value of the Pound) could materially impact our revenue and/or costs, and therefore the profitability of the business. Unless we can reduce our exposure to these economic variables (e.g. our foreign exchange exposure), and improve our ability to take action quickly on our margins and operating costs, we will not create a sustainable business model.

Current Mitigation                                                              Focus in 2022 
* Significant actions on cost and margin taken in FY21 have collectively built  * Maintain focus on reducing underlying 
financial resilience, including a successful project to reduce our fixed cost   costs, e.g. rental costs through 
base. A refinancing secured our funding for a three-year period.                property renegotiations. 
* A strategic focus on the growth of services will build more stable revenue 
streams going forward, lessening the Group's exposure to product lifecycles and 
trends                                                                           * Continuing to focus on margin 
                                                                                improvement, 
* The business has a hedging programme in place and is following a              eliminating unnecessary cost through 
working capital reduction programme, targeted at reducing stock holding         targeted 
and aligning trade creditor terms.                                              efficiencies and scale benefits. 

Service Quality

The service we provide to customers may fail to meet regulatory/safety requirements resulting in harm to customer and/or legal/ financial penalty.

Current Mitigation                                                                        Focus in 2022 
                                                                                          * Full roll-out of new store 
                                                                                          operating model, with 
* All colleagues are provided with dedicated training and adhere to established quality   additional skills training 
control and safety procedures, with compliance audits by management. We also have a       completed for all retail 
dedicated compliance team monitoring our regulated activities.                            colleagues. 
 
* In Autocentres, we have introduced PACE, our digital operating platform, enabling       * Introduction of in-store 
increased workflow, productivity, and quality assurance. A new store operating model is   specialists, focused on 
also now in place with multiskilled retail colleagues operating across all departments.   delivering excellence in our 
                                                                                          different service offerings. 
 
 
* Store calls are now managed through a centralised contact centre, improving response 
times and convenience to customers.                                                       * Ongoing programme of 
                                                                                          proactive store maintenance 
                                                                                          and safety checks. 

Cyber Security

If we fail to sufficiently detect, monitor, or respond to cyber-attacks against our systems they may result in disruption of service, compromise of sensitive data, financial loss and reputational damage.

Current Mitigation                                                     Focus in 2022 
* Our information security team working with our security partner, 
TCS, provide valuable support by managing vulnerability scans and 
email and website security 
 
                                                                       * Launch of a fully managed security operations 
* A perpetual education and awareness campaign is provided to all      centre, increasing visibility and decreasing 
colleagues. Regular briefings promote an understanding of the risks to response time to incidents 
our data and the benefits of good security practices. 
 
* The Audit Committee is regularly briefed by senior IT management on 
the business' IT security framework. 

Colleague Engagement/Culture

Our employment model may not be sufficiently attractive to recruit and retain the talent that we need.

Current Mitigation                      Focus in 2022 
* Our status as an essential retailer 
during the pandemic provided a strong   * Regular survey activity to identify areas important to 
sense of purpose and enhanced the       colleagues in driving continued engagement 
culture and identity of Halfords as a 
services business 
* Early in the year, we launched our 
new colleague values and behaviours 
framework and appointed a colleague 
experience manager to focus on 
engagement. An annual engagement survey 
provides us with reports at 
team level. We have an environment that * Ongoing wellbeing programme, providing ideas, 
encourages colleagues to feed           support and tips for a better work/life balance. 
back to us about how we can make 
Halfords an even better place to 
work. 
                                        * Identification and development of top talent, allowing us to develop 
* During the year, a hardship fund was  colleagues to fulfil their potential and, in turn, strengthen our succession 
founded for the benefit of our          pipeline. 
colleagues to provide support and 
assistance where needed. Equally, a 
bonus scheme was established for those 
colleagues working in a front 
line role during the early period of 
the pandemic. 

Skills Shortage

We may be unable to recruit, retain and develop enough people to have the different mix of skills that we need at all levels across the business, in the near and longer term.

Current Mitigation                                                 Focus in 2022 
* We have a strategy that relies on attracting and retaining 
colleagues who can inspire and support our customers and encourage * Material investment programme in skills training 
them to build a lifetime relationship with the brand               to enhance colleague capability and, in turn, 
                                                                   improve the customer experience across our touch 
                                                                   points. 
* Our recruitment website highlights the importance of the 
Halfords behaviours and details the skills and experience required 
of our colleagues. New starters are given a full induction and all * As the restrictions associated with COVID-19 ease, 
colleagues receive a performance development review. We develop    develop a revised working model for our Support 
colleagues via the application of a talent matrix, which supports  Centre colleagues, balancing a desire for greater 
them in fulfilling their potential and enabling succession         flexibility with the connection and creativity that 
management                                                         comes from being in the right office environment 
 
* Training and development are a fundamental part of our business  * Extend our eLearning programme for the benefit of 
and a great attraction for new applicants. We apply a targeted     all colleagues. 
approach to further enhance skill levels for centres as we do with 
stores, by mapping against the optimal skills mix 

IT Infrastructure Failure

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2021 02:10 ET (06:10 GMT)

All news about HALFORDS GROUP PLC
09/21HALFORDS GROUP PLC : Director/PDMR shareholding -2-
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09/21HALFORDS GROUP PLC : Director/PDMR shareholding
DJ
09/09HALFORDS : AGM voting results 2021
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09/09HALFORDS GROUP PLC : Result of AGM
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09/08LONDON STOCK EXCHANGE : Pharma, bank stocks weigh London's FTSE 100; Dunelm Group jumps
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09/08Pharma, bank stocks weigh London's FTSE 100; Dunelm Group jumps
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09/08Halfords Group plc Reports Sales Results for the Twenty Two Weeks of Fiscal 2022
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09/08HALFORDS : Logs Strong 20-Week Performance On Revenue, Sales Growth
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09/08FTSE 100 Seen Lower After Mixed Asia Session, U.S. Losses
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09/08HALFORDS : sales grow 18.7 per cent year on year
AQ
More news
Analyst Recommendations on HALFORDS GROUP PLC
More recommendations
Financials
Sales 2022 1 289 M 1 760 M 1 760 M
Net income 2022 62,6 M 85,5 M 85,5 M
Net cash 2022 58,9 M 80,4 M 80,4 M
P/E ratio 2022 10,1x
Yield 2022 2,96%
Capitalization 602 M 822 M 822 M
EV / Sales 2022 0,42x
EV / Sales 2023 0,39x
Nbr of Employees 11 286
Free-Float 98,7%
Chart HALFORDS GROUP PLC
Duration : Period :
Halfords Group plc Technical Analysis Chart | HFD | GB00B012TP20 | MarketScreener
Technical analysis trends HALFORDS GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Last Close Price 305,00 GBX
Average target price 460,00 GBX
Spread / Average Target 50,8%
EPS Revisions
Managers and Directors
Graham Barry Stapleton Chief Executive Officer & Director
Loraine Woodhouse Chief Financial Officer & Director
Keith Williams Non-Executive Chairman
Neil Holden Chief Information Officer
Andrew John Randall Group Chief Operating Officer
Sector and Competitors