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Solid Christmas trading for retailers

From couture to car maintenance, Christmas trading statements this week have been peppered with positive news for some retailers. Investment in autocentres seems to be paying off for Halfords (HFD), which reported 5.6 per cent growth in like-for-like revenue in the 15 weeks to 11 January. Group like-for-like revenue was up just 1 per cent, an improvement on the 2.7 per cent fall the year before. Halfords' new chief executive, Matt Davies, has plans to turn the company around, so we retain our buy rating.

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By Julia Bradshaw,
16 January 2013

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