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, commented: “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.”
