BUSINESS LIVE: Halfords predicts big profits; Online grocery sales boom

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BUSINESS LIVE: Halfords predicts big profits; Online grocery sales boom; TRG warns of £5.5m monthly cash burn

By This Is Money

Published: | Updated:

Halfords is on course for profits of £90million to £100million after the pandemic created a boom in cycling among Britons and the group agreed to pay back £10.7million in furlough money it received from the government. 

The online share of grocery sales doubled to a record 16 per cent in January from the same month last year, thanks to increased demand during the country’s third Covid-19 lockdown, data from market researcher Nielsen showed. 

The Restaurant Group said it was expecting a cash burn of about £5.5million every four weeks due to Britain’s latest coronavirus-led lockdown and agreed to new long-term loans worth £500million.

Halfords bike sales have accelerated over the last year due to a plummeting number of car journeys, a greater reluctance to use public transport and rising environmental concerns

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