The latest quarterly figures (Q1 covering April to July 2024) released by Network Rail Property have revealed an increase in like-for-like (LfL) retail sales* of +16% at Glasgow Central, making it Network Rail’s best performing Scottish station in terms of LfL retail sales.
During the same quarter, the British Retail Consortium (BRC) tracked a -1.4% decline in LfL sales. The growth across the Network Rail portfolio highlights the strength and resilience of retail performance at Glasgow Central station.
Across all 19 Network Rail managed stations in Great Britain, total retail sales in Q1 reached £225.9m, delivering an increase of over £25m compared to the previous quarter and LfL sales increased +5% across its retail portfolio. Network Rail’s annual retail sales for 2023/2024 surpassed £842m and were +2% ahead of 2019/20.
Strong sales performances were supported by the new pop-up opening of Soctopus in June. Open until the end of the year, the Soctopus is an independent sock brand known for their vibrant range of socks. The opening is part of wider effort from Network Rail to diversify the retail and F&B offering across destination stations by providing curated pop-up experiences for passengers.
Network Rail tracks sales performance across retail, F&B and grocery categories, with Q1 seeing the strongest LfL growth in the grocery category (+8%).
Network Rail continue to improve the retail experience for customers. Continued sales growth underlines the success of Network Rail’s retail strategy and ensuring stations are retail and leisure destinations within their own right. 30 new brands have been introduced to the portfolio over the last year, delivering a curated offer across its locations. Income generated through retail is central to wider reinvestment from Network Rail into the transformation of the railway.
Hamish Kiernan, Commercial Director, Property at Network Rail, comments: “Retail at Glasgow Central station continues to go from strength to strength. Our latest sales figures indicate how travel retail remains a marketplace of resilience for our brands. We are particularly encouraged to welcome an additional pop-up to Glasgow and throughout our portfolio we are seeing positive performance supported by our retail and F&B offer.”
*Retail sales covers retail, F&B and grocery brand sales.
ENDS
Notes to Editors:
Network Rail
Network Rail Property create exceptional spaces for customers, alongside developing sustainable neighbourhoods surrounding stations. This generates income from the extensive property portfolio and is reinvested back into the continued transformation of the railway.
The regeneration of railway land supports the delivery of new homes, workspace, retail and public realm for communities. Unlocking value from our land across Great Britain allows us to make a stronger contribution to both communities and wider economic growth. We create successful strategic partnerships across both the public and private sector to enable this regeneration and the continued delivery of vital infrastructure. Network Rail own, operate and develop Britain's railway infrastructure including 20,000 miles of track, 30,000 bridges, tunnels and viaducts in addition to running 20 of the UK's largest stations while the others, over 2,500, are run by the country's train operating companies.
Comments