Halfords Appoints Henry Birch as CEO Following Graham Stapleton's Departure

Halfords has appointed Henry Birch as the new CEO, succeeding Graham Stapleton, who led the company for seven years and transformed it into an omnichannel retailer, increasing annual revenues from £1.1bn to £1.7bn. Despite a challenging retail environment, Halfords reported like-for-like sales growth of 2.3% and expects its underlying profit before tax to be at the upper end of the £32m to £37m guidance range. Birch, who has extensive experience in the consumer and retail sectors, acknowledged the challenging economic outlook but expressed confidence in the company's position for future success. The company has also managed to outperform its £30m cost-saving target, which helped mitigate inflationary pressures. Looking ahead, Halfords anticipates navigating an increase in labor costs while maintaining its strategic focus on growth and transformation. The transition comes as the company prepares for potential indirect impacts from global trade tariffs, although it has no direct exposure.