* Halfords sees 2010-11 profit of 124-127 million pounds
* Q4 Halfords like-for-like sales down 6.8 percent
* Plans share buyback of up to 75 million pounds
* Carpetright sees 2010-11 profit of about 17.2 mln pounds
* Halfords shares down 7.5 percent, Carpetright down 2.6 pct
(Adds details, Halfords CEO, Carpetright FD, analyst comment)
By James Davey and Mark Potter
LONDON, April 7 (Reuters) - Car parts to bicycles group Halfords and floor coverings company Carpetright joined the ranks of British retailers warning on their profit outlook as consumers hold back on discretionary spending.
Halfords shares fell 7.5 percent on Thursday after it cut profit guidance for the second time in less than three months, while shares in Carpetright, in which Bill Gates, America's richest man, is a significant investor, fell 2.6 percent after its second profit alert in two months.
British consumers look increasingly unwilling to spend as higher inflation, fuelled by January's rise in VAT sales tax and rising oil, utility and food prices, bite into real incomes.
They are also worried about job losses and cuts to welfare benefits, as well as the prospect of higher interest rates.
Household goods group Home Retail, electricals retailer Dixons, mother and baby goods chain Mothercare and music and books group HMV have all issued profit warnings in recent weeks, and even grocers, normally the most resilient retailers, are suffering.
On Wednesday, Marks & Spencer posted better than expected sales, saying it was benefiting from shoppers who were cutting back on major purchases but still allowing themselves "affordable treats".
Halfords, which trades from 473 Halfords stores in the UK and Ireland and 240 Autocentres, forecast a 2010-11 pretax profit of 124-127 million pounds ($202-207 million), on sales of 869 million pounds and gross margins broadly flat.
In January, the firm had guided to 127 million pounds after Christmas sales failed to meet expectations.
Sales at Halfords stores open over a year fell 6.8 percent in the 13 weeks to April, its fourth quarter, with same store sales at car servicing business Autocentres down 1.4 percent.
For the 2011-12 year the group forecast a fall in gross margins of at least 30 basis points, a 4 percent rise in costs, and said initial profit objectives for Autocentres, acquired in 2010, would be delayed. The impact on earnings would be mitigated by a 75 million pounds share buyback programme.
CHALLENGING ENVIRONMENT
"The environment is challenging but we have the potential at Halfords to trade more strongly in the year ahead," Chief Executive David Wild told reporters.
Shares in Halfords, which have fallen 19 percent in the last three months, were down 27.6 pence at 341 pence at 0925 GMT, valuing the business at about 690 million pounds.
"In the year ahead challenging conditions are likely to persist and there will be pressure on outer year forecasts," said Singer Capital Markets analyst Mark Photiades.
Carpetright, which trades from around 700 stores in Britain, Ireland, the Netherlands and Belgium, forecast a 2010-11 profit in line with 2008-09's figure of 17.2 million pounds, having said in February it expected profit above that level, but below 2009-10's 28.2 million pounds.
Finance Director Neil Page told Reuters the firm's fourth quarter sales were running at a similar rate to the third quarter fall of 7.7 percent.
He said he did not expect another big drop in consumer confidence this year, though current levels of pessimism were likely to persist into 2012.
Shares in Carpetright, which have lagged the UK general retail sector by 12 percent over the past year, were down 17.5 pence at 654 pence, valuing the business at about 445 million pounds.
(Editing by Ben Hirschler)