28.09.16
Retail sales at NR stations increase by 4.14% in Q1
Retail activity at Network Rail-owned stations has increased above the market standard in the first quarter of 2016-17.
The infrastructure owner released new figures showing that like-for-like sales increased by 4.14% between April and June, compared to a 0.5% increase across the whole of the British retail sector, and marking 17 consecutive quarters of growth.
Food and drink sales were 6.1% greater than the same period last year, whilst retail sales grew by 2.5%.
David Biggs, Network Rail’s managing director of property, said: “These figures show that the quality retail offering at Network Rail stations is driving strong customer traffic to the many shops, cafes and boutiques that stations now have to offer. That’s good news for shoppers and good news for passengers too.”
He added that all the profits from retail sales are reinvested in the railway through projects such as the Railway Upgrade Plan.
Despite the growth in activity, Network Rail is considering selling off some if its stations in order to try to pay off its debts, which are estimated to reach £50bn by the end of the decade. However, it recently abandoned plans to sell off its telecoms network.
In total, 204 million people passed through Network Rail’s 18 managed stations in the last quarter, of whom 64 million used retail facilities.
There was a 10.2% growth in retail activity at Reading station, a 9.6% growth at Manchester Piccadilly and an 8.7% growth at London King’s Cross.
Network Rail also announced today that it has appointed Daniel Charles, a former head of retail at the Abu Dhabi Airports Company and senior category manager at Network Rail, as the new head of retail at Network Rail Property.
(Image c. Dave Thompson from PA Wire)
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