Halfords Group plc

Climate Impact & Sustainability Data (2023-03-31 to 2024-03-29)

Removed 5.5 million items of plastic packaging
Swapped 2 million items of non-recyclable plastic to recyclable
Launched new recycling initiatives in Retail stores
Scope 1 and 2 emissions 24% below FY20 baseline in absolute terms; 49% below FY20 relative to Group revenue

Motoring Loyalty Club grew to 3.4m members, doubling in one year
Increased investment in people by expanding apprentices programme and investing in leadership capability

Strengthened governance of supply base, updating Global sourcing policy and launching a new sustainability tool in partnership with EcoVadis

Long-term Goals:

Continuing declines in the Consumer Tyres and Cycling markets
Decline in consumer demand for big-ticket purchases
Elevated cost inflation (approx. £37m in FY24)
Market volumes in Cycling and Consumer Tyres declined year-on-year, worse than industry expectations
Faster than expected Cycling Market consolidation leading to higher promotional activity
Customers cut spend on big-ticket, discretionary products
Inflation remains a material headwind (10% increase in national minimum wage)
Significant increases in sea freight rates

Delivered cost savings of over £35m (ahead of target)
Major restructuring of tyre supply chain (cost savings of c.£5m per annum)
Integrated acquired Lodge business
Better Buying programme
Focus on optimising the platform and controlling costs
Targeting over £30m of incremental year-on-year savings in cost of goods and operating costs in FY25

Climate Change Data