Network Rail’s largest station retail offer is proving hugely popular with passengers, according to the company’s latest retail results released today.
The transformed London Bridge station – which houses over 70 purpose-built shops, making it Network Rail’s biggest retail offer – has doubled its total sales for the first three months of 2019 compared to the same period last year. It recorded over £14million in purchases, while sales for the 2018/19 financial year grew by over 75%.
Across Network Rail’s managed station estate*, Q4 (January-March 2019) like-for-like (2.42%) and total sales (6.84%) increased steadily, rounding out another successful financial year for Network Rail’s retailers despite a difficult wider retail trading environment.
In the 2018/19 financial year, Network Rail retailers welcomed over a quarter of a billion customers into their stores leading to significant retail sales growth of 4.36%. Like-for-like sales were steady at 1.32%, well above the British Retail Consortium** (BRC) figure of 0.05% for the same period.
Niche station retail categories including technology (+105%), home and lifestyle (+25%), and books (+18%) all proved popular purchases in the last year, showing shoppers are looking to stations for traditional high-street items as well as the usual on-the-go food and small purchase offers.
These results mark the eighth straight year, and 32nd successive quarter, that like-for-like sales have increased for Network Rail. Every penny of profit from retail sales is reinvested back into the railway.
David Biggs, managing director of Network Rail Property said: “We know that convenience is king for our busy passengers and station users. That’s why we are delivering a passenger-centric retail offer across our estate and are pleased it continues to be successful despite some tough market conditions.
“We’re committed to delivering a positive experience for the 900 million people who use our stations each year. We continue to work with our colleagues to create modern railway stations that are also destinations in their own right – great places for people to shop, eat, socialise and travel.”