Network Rail Property saw a double-digit uplift in retail sales across its 19 managed stations over the summer ahead of the Christmas peak.
In the second quarter covering July to September, total retail sales increased 10% and like-for-like sales rose 6.3% to reach £233.7m.
These figures were up £21m compared to the previous year, while Network Rail’s annual sales for 2023/24 exceeded £842m.
Ten new openings and store upgrades across Network Rail-managed stations in the second quarter bolstered sales performance.
This included a Marks & Spencer’s refresh at Liverpool Street and the pop-up Pop Mart, a lifestyle toy brand offering collectibles and figurines.
Over 2024, 56 retail units opened across 19 stations, averaging more than one per week.
Nine new brands and 16 pop-ups joined the Network Rail retail offering, including AllSaints for the first time.
London Waterloo was the best-performing retail destination for the second consecutive quarter as sales increased 47%, followed by Birmingham New Street with a 24% rise year on year.
On a like-for-like basis, Charing Cross was the best-performing station over the quarter with a 23% lift in sales. Liverpool Lime Street followed with 19% sales growth.
Network Rail reported that this quarter also saw the strongest like-for-like growth in grocery.
Commercial director of property Hamish Kiernan said: “Sustained sales growth and new openings across our 19 managed stations is highly encouraging, as retailers are now in the golden quarter.
“We know how important Christmas is to our retailers and our customers will be making the most of our retail and F&B line-up over the festive period. Consistent performance over the last quarter underlines the success of our retail strategy and vision to enhance our destination stations.”
No comments yet