Network Rail Property has reported a sales boost of 10%, with like-for-like sales up 6.3%, across its portfolio of 19 managed stations.
In its latest results, for July to September 2024, total retail sales hit £233.7mn – representing an increase of over £21mn compared to the previous year.
Sales performances are tracked by Network Rail across retail, F&B and grocery categories, with Q2 seeing the strongest LFL growth in grocery.
For the second quarter in a row, London Waterloo [pictured] was the best performing destination in terms of total sales growth for Q2. Total sales increased by 47% at London Waterloo over the last quarter, followed by Birmingham New Street at +24% YOY.
On a LFL basis, London’s Charing Cross was the best performing station in the quarter with 23% sales growth. Liverpool Lime Street was closely behind, with an increase of 9% LFL sales growth for the period.
Set against the wider retail market, the British Retail Consortium tracked a 1% increase of LFL sales for the same quarter. Network Rail responded that sustained quarterly sales growth across it’s destination stations underlines the resilience of its retail performance.
Furthermore, it stressed this “encouraging sales performance” was supported by 10 new openings and store upgrades across Network Rail stations in Q2. Marks & Spencer’s first convenience store at a mainline railway station, which opened at Liverpool Street in 2001, was given a refresh. The new store design caters for commuters at Britain’s busiest station.
Also at Liverpool Street POP MART, the lifestyle toy brand, has opened a pop-up which offers customers a range of unique collectible toys and mini figurines.
During 2024, 60 retail units have opened across the 19 stations – which is more than one a week on average. Nine new brands have joined the Network Rail line up alongside 16 pop-ups, including All Saints, giving brands the opportunity to try the destinations.
“Sustained sales growth and new openings across our 19 managed stations is highly encouraging, as retailers are now in the Golden Quarter,” said Hamish Kiernan, commercial director, property at Network Rail.
“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.”
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