West End vibrant as John Lewis store takes £1m in a day

The department store's tills hit the symbolic milestone at the end of last month, traditionally a quiet period in the trading year.

It is the latest sign that the London economy is weathering the credit crunch that led to the meltdown at Northern Rock last month.

The John Lewis store, which has had a £64 million refurbishment, said the day's sales exceeded £1 million on Saturday 29 September, with fashion and beauty goods leading the way.

The first "£1million Saturday" is normally expected in late October or early November as the long build-up to Christmas gets under way, added managing director Noel Saunders.

Other department stores said to be doing well include Selfridges, also in Oxford Street, which opened its new Wonder Room last month, and Fenwick in New Bond Street.

Shops were helped by the weather, which was much cooler than last autumn, when sales of winter coats and fashion collections slumped. At John Lewis, sales of menswear and clothes are up 10 per cent on last year while technology goods, such as plasma TVs and iPods, are five per cent ahead.

Andy Street, managing director of John Lewis department stores, said: "The West End is robust. We're on a steady course for Christmas."

According to figures from the New West End Company, which represents retailers in Oxford Street, Regent Street and Bond Street, there were 12 per cent more shoppers in Oxford Street in the final week of last month than in the same week the year before.

There has also been a record number of foreign visitors to the West End.

Sir Philip Green, owner of the Arcadia group, which has 10 outlets in or near Oxford Street including its flagship Topshop store, said: "Great progress is being made to improve Oxford Street and make it a great destination."

David Kenningham, executive director of retail at real estate adviser CB Richard Ellis, said demand for space in the West End was at its highest since the dotcom boom of a decade ago. The go-ahead for Crossrail would provide a further boost, particularly for the tatty east end of Oxford Street, he added.

Tim Denison, director of knowledge management at retail consultancy SPSL, said: "Many retail analysts will be forced to admit that shoppers have been more resilient for longer this year than we had expected."

James Bidwell, chief executive of VisitLondon, told a tourism conference last week that foreign visits are expected to be up by between two and three per cent this year, and domestic visits up by about two per cent.

The fastest growth in spending is among Russians, Indians and people from the Middle East, according to figures from the New West End Company. Last year, for the first time, more Indians than Japanese visited London.

Mr Bidwell said: "London's hotels are running at an 82 per cent occupancy rate at the moment but during the busy times many have waiting lists. During London Fashion Week you could not get a room anywhere."