UK’s Halfords names new boss, sees annual profit at upper-end of forecast

Britain’s Halfords on Tuesday named former Rank Group chief Henry Birch as its new CEO and said it expects 2025 profit to be at the upper end of its previous forecast.

Mr Birch succeeds Graham Stapleton who will exit the firm after seven years at the helm.

Halfords, which provides automotive and cycling services, has been navigating tough demand environment like most retailers.

While companies in Britain are coping with rising employer social security contributions and increased minimum wages, they now face additional pressure from the recently imposed US tariffs.

Still, Halfords said it expects annual pretax profit to be at the upper end of the £32 million to £37 million (€37.3million to €43.3 million) range it had forecast earlier.

Halfords, which retails everything from car parts to bicycles, said it expects to mitigate the entirety of the inflationary impact of the Autumn Budget in 2026.

While the company does not export or import goods to or from the United States, it said the indirect exposure of tariffs could impact its supply chain operations. - Reuters