London Sales up in February

News from The British Retail Consortium (BRC) confirming today what we’ve been saying about ‘Tourist Shoppers’

London retail sales rose 5.9% on a like-for-like basis in February outperforming the rest of the UK, which recorded a 1.8% fall in like-for-like sales over the month.

The BRC said that central London footfall was hit by the snow in the first week of February but picked up later in the month, partly thanks overseas visitors taking advantage of the weak sterling against the strong euro. UK shoppers also boosted sales during the school half-term holiday week.

The BRC said that clothing and footwear sales in February had benefited from cold weather and extended discounts.

Over the three months ended February like-for-like retail sales in central London rose 3.5%, against a 1.4% decline across the UK as a whole.

BRC director general Stephen Robertson said: “Despite the recession and a poor start to February due to extreme snow, the capital’s retail sales outperformed the rest of the UK. London retailers benefited as the weak pound made shopping here more attractive for overseas visitors – especially those from eurozone countries. Half-term also helped. More families opted to stay at home this year rather than go on foreign holidays. Consumer confidence held up a bit better as London is proving slightly more resilient to recession than other parts of the UK.”

Tony Heywood – Gilcrest Services Ltd
Retail Troubleshooter
Rescue and Recovery Consultant
www.gilcrest.com
http://www.linkedin.com/in/tonyheywood2

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