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Mason commits to Halfords

Halfords' new CFO has picked up 50,000 shares in the retailer following its recent Q3 update.
February 4, 2016

Jonny Mason, who joined Halfords (HFD) from Scandinavian chicken company Scandi Standard midway through last year, has forked out just over £185,000 to bump-up his holding in the retailer. The chief financial officer completed the transactions within a few days of a Q3 trading update, which showed that while gross margins remain under pressure, overall sales proved more resilient than recent estimates had suggested.

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Like-for-like sales were broadly flat, but some segments of the business, such as bulbs/blades fitting and cycle repairs, provided cause for optimism. Gross margins are still expected to contract by a midpoint rate of 50 basis points, though this is seen as a reasonable decline given the potential impact of mild weather conditions on the high-margin car maintenance business.

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