Network Rail retail sales rise 10% to £233m in Q2
Sales performances were tracked by Network Rail across retail, F&B and grocery categories, with Q2 seeing the strongest like-for-like growth in grocery
Network Rail saw its total retail sales rise 10% to £233.7m for the second quarter from July to September, spelling an increase of over £21m on the same period last year.
Additionally, retail sales overtook the previous quarter, jumping by over £8m. Network Rail’s annual retail sales for 2023/24 surpassed £842m.
It comes as the transport company also experienced a 6.3% like-for-like sales boost across its portfolio of 19 managed stations.
The “encouraging” sales performance has been supported by 10 new openings and store upgrades across Network Rail stations during the quarter.
For the second quarter in a row, London Waterloo was the best performing destination in terms of total sales growth for Q2 – increasing by 47%, followed by Birmingham New Street at a rise of 24% year-on-year.
On a like-for-like basis, Charing Cross was also the best performing station in the quarter with a sales rise of 23%. Liverpool Lime Street was closely behind, with a like-for-like sales uplift of 19% for the period.
Sales performances were tracked by Network Rail across retail, F&B and grocery categories, with Q2 seeing the strongest like-for-like growth in grocery.
Hamish Kiernan, commercial director of property at Network Rail, 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.”
