A new chief executive has been appointed at Halfords.

The parts, service and cycle retailer has former Pets At Home boss Matt Davies at the helm from today.

Davies replaces David Wild, who quit immediately in July amid news of a profit warning and a sharp sales decline.

Dennis Millard, chairman of Halfords who has been acting as interim chief executive officer, said Davies had "impeccable service credentials and the energy and ability to drive Halfords forward".

His appointment comes after a torrid half-year for the group. Halfords, which has 467 stores, said it expected sales to be flat at best in the second half of its financial year - leading it to slash profit guidance from around £79 million to between £62 million and £70 million.