| Network Rail station retail sales results show strong growth |
| Tuesday, 20 September 2011 | |
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Network Rail have released the latest set of station retail sales results for April to June 2011 showing a 3.7% growth in like for like sales, compared to the same time the previous year. For the same period high street sales, as reported by the British Retail Consortium, grew by just 0.73%, meaning retail sales in stations continue to outperform the high street. These figures were compiled from the results of retailers operating from over 560,000 sq ft of retail space (493 units/shops) at 16 of Britain’s biggest and busiest stations owned and operated by Network Rail, benefiting from a combined annual footfall of over a billion. The results were slightly down on the previous quarter’s trend (January to March 2011), which recorded a 5.17% growth in like-for-like sales, compared to the same quarter the previous year – owing to a downturn on trading coinciding with a later than usual Easter followed by the royal wedding, which created an unusually prolonged bank holiday period. Gatwick, followed by London stations in particular London Bridge (8.6%), Fenchurch Street (7%) and Euston (6.8%) achieved the best sales growth over the period. Outside of London, Manchester (4.98%) and Leeds (4.60%) stations achieved the best results. Specialist food catering categories achieved the highest levels of growth with a 14.20% increase, followed by cards and stationery with a growth of 13.37%. Restaurants in stations are also doing well with this category reporting a growth of 9.94%. Gavin McKechnie head of retail at Network Rail said: “Despite the fact we had two successive four day bank holiday weekends the results are very encouraging in this challenging economic climate. The high footfall of our stations continues to give our partners the edge over the high street.” “Over the coming months we’ll be announcing our new retail partners who will be coming onboard in exciting new space at King’s Cross and Waterloo stations, opening next year marking the start of a new era for station retail.” All profits from Network Rail’s retail activity is re-invested in the railway, limiting the cost to tax payers and passengers. Network Rail owns and manages 16 of Britain’s biggest and busiest stations: National stations
London stations
Network Rail’s top performing categories: Specialist Food Catering (+14.20%)
Cards and Stationery (+13.37%)
Restaurants (+9.94%)
As part of the continued investment in stations to increase capacity and improve the environment for passengers, 75,000 sq. ft of exciting new retail space is being created at Waterloo, Manchester Piccadilly, Birmingham New Street and King’s Cross stations. Manchester Piccadilly: Opening autumn 2011. The existing mezzanine will be used to provide seven new restaurants, totalling nearly 12,000 sq ft. London Waterloo: Opening spring 2012. A stunning 220 metre-long balcony will be built along almost the full length of the concourse at first-floor level creating 20,000 sq ft of new retail space. This will allow the currently over congested concourse to be cleared, creating significantly more space and improved passenger flow to and from Waterloo East. King’s Cross: Opening spring 2012. The creation of a brand new concourse will mean passengers will enjoy over 27,000 sq ft of new shops and restaurants. Birmingham New Street: Opening 2014. A striking new station concourse, including 16,000 sq ft of new retail space will bring passengers a bigger choice of shops and restaurants.
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