Monday 24 Feb 2014
Network Rail achieves record 7.8% growth in station retail sales in the last quarter of 2013
- Region & Route:
- National
Network Rail has released station retail sales results showing 7.8% growth in like-for-like sales from September to December 2013 – the most successful quarter for Network Rail managed station retailers on record and a significant outperformance over high street sales (+0.6%*).
The growth achieved by Network Rail highlights the growing demand for convenience retailing and the power of stations to deliver consistently lucrative trading environments for British retailers. Profits from Network Rail’s retailing and property activity is all re-invested in the railway.
Hamish Kiernan, commercial director of retail, Network Rail, said: “Station trading continues to grow dramatically, significantly outpacing the high street. Guaranteed footfall and convenience are key drivers of this growth and both are great selling points for the railway. Stations offer a vibrant and healthy trading environment and we are continuing to attract new brands to meet the needs of passengers and local communities alike.”
Network Rail’s latest trading figures were compiled from the sales results of retailers operating from over 500,000 sq ft of retail space (520 units/shops) across 16 of Britain’s biggest and busiest stations owned and operated by Network Rail, and benefiting from a combined annual footfall of over a billion.
Top performing stations include King’s Cross (+26%), followed by Manchester Piccadilly (+10.7%) and Liverpool Street (+8.7%) when compared to the same period last year.
Trading at King’s Cross has benefited from a major investment scheme enabling new retail facilities to be added to the station environment, and offering customers a wider choice of food and beverage as well as retail brands.
Specialist food (+15.8%) performed best in stations this period followed closely by dining (+14.1%). Other top performing categories include pubs and bars (+13.9%) and health & beauty (+12.7%).
High performing brands include Wasabi (+19%), Paperchase (+16%), Body Shop (+14%), Hotel Chocolat (+12%), Caffe Nero (+8%), M&S (+8%) and Oliver Bonas (+8%).
Notes to editors
* figures reported by the British Retail Consortium for the same period
Network Rail owns and manages 16 of Britain’s biggest and busiest stations (it also manages St Pancras International on behalf of HS1 Ltd):
National stations
- Birmingham New Street
- Edinburgh Waverley
- Glasgow Central
- Leeds
- Liverpool Lime Street
- Manchester Piccadilly
London stations
- Cannon Street
- Charing Cross
- Euston
- Fenchurch Street
- King’s Cross
- Liverpool Street
- London Bridge
- Paddington
- Victoria
- Waterloo
Network Rail
- Is one of the largest land and property owners in the country and during the five year period ending 31 March 2014, will generate over £1bn from commercial activities for re-investment in our rail estate. This would be enough to transform Birmingham New Street or King’s Cross stations, or put in place 5,000km of new railway.
- Has over 500,000 sq ft of retail space at 16 of the largest stations across the country – that’s more retail space than Bluewater – showcasing many leading high-street brands.
- Is also the country's largest provider of commercial property to small and medium sized businesses, with over 7,000 properties nationwide.
- Works in partnership to develop railway land and property no longer required for operational use, including multi-million pound commercial schemes above our station at Birmingham New Street and our first multi-site joint venture, Solum Regeneration.
Contact information
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About Network Rail
We own, operate and develop Britain's railway infrastructure; that's 20,000 miles of track, 30,000 bridges, tunnels and viaducts and the thousands of signals, level crossings and stations. We run 20 of the UK's largest stations while all the others, over 2,500, are run by the country's train operating companies.
Usually, there are almost five million journeys made in the UK and over 600 freight trains run on the network. People depend on Britain's railway for their daily commute, to visit friends and loved ones and to get them home safe every day. Our role is to deliver a safe and reliable railway, so we carefully manage and deliver thousands of projects every year that form part of the multi-billion pound Railway Upgrade Plan, to grow and expand the nation's railway network to respond to the tremendous growth and demand the railway has experienced - a doubling of passenger journeys over the past 20 years.
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