Quarterly retail sales jump +10% at Network Rail stations as total sales hit £233.7 Million

London Waterloo is best performing station for back-to-back quarters as sales increase +47%

Network Rail Property has released its latest quarterly retail sales figures (Q2 covering July to September 2024), revealing a total sales uplift of +10% and +6.3% like-for-like (LfL) sales boost across its portfolio of 19 managed stations in Great Britain.

Set against the wider retail market, the British Retail Consortium (BRC) tracked a +1% increase of LFL sales for the same quarter. Sustained quarterly sales growth across Network Rail’s destination stations underlines the resilience of their retail performance.

Total retail sales in Q2 reached £233.7m, representing an increase of over £21m compared to the previous year. Additionally, retail sales overtook the previous quarter, jumping by over +£8m. Network Rail’s annual retail sales for 2023/24 surpassed £842m.

An encouraging sales performance has been supported by 10 new openings and store upgrades across Network Rail stations in Q2. Marks & Spencer’s first convenience store at a mainline railway station, which opened at Liverpool Street in 2001, was given a big refresh. The new store design caters for commuters at Britain’s busiest station. Also at Liverpool Street POP MART, the lifestyle toy brand, has opened a pop-up which offers customers a range of unique collectible toys and mini figurines.

During 2024, 60 retail units have opened across the 19 stations – which is more than one a week on average. Nine new brands have joined the Network Rail line up alongside 16 pop-ups, including All Saints, giving brands the opportunity to try the destinations.    

For the second quarter in a row, London Waterloo was the best performing destination in terms of total sales growth for Q2. Total sales increased by +47% at London Waterloo over the last quarter, followed by Birmingham New Street at +24% YOY.

On a LFL basis, Charing Cross was the best performing station in the quarter with +23% sales growth. Liverpool Lime Street was closely behind, with +19% LFL sales growth for the period. Sales performances are tracked by Network Rail across retail, F&B and grocery categories, with Q2 seeing the strongest LFL growth in grocery.

In Q2, all five Network Rail regions experienced positive LFL sales performance. Wales and Western saw the largest regional uptick, with sales increasing by 12% compared to same period last year. In terms of total sales, North West and Central saw the biggest increase at +17% on 2023 levels.

Diversifying and transforming the retail experience for customers continues to be a priority for Network Rail Property. Carefully curating stations for brand success and continued sales growth demonstrates the strength of Network Rail’s retail strategy.