Weather Tonight: 9°c Light showers Morning: 14°c Overcast

Business

HEADLINES:

London shop sales slip but West End is still buzzing


15.06.09

West End stores today shrugged off figures showing a sharp slowdown in the overall sales growth at London's shops last month.

The London Retail Consortium figures said annual sales growth in central London fell from between 5% and 6.5% in the first months of the year to just 1.6% last month.

The figures also showed the number of shoppers was slightly below the levels of last year, but the LRC pointed out that May 2008 was unusually sunny. It added that while tourists were still being attracted by the relatively weak pound, they were spending less in the shops.

However, the New West End Company, which represents retailers in Bond Street, Oxford Street and Regent Street, said sales were up 2.7% over May 2008.

Much of the boost was due to a record Whitsun May Bank Holiday weekend, when a million shoppers descended on the area, lured by a day of pedestrianising Oxford Street. Footfall was 14.8% up on the same time last year.

The figures were a marked improvement over the first two weeks of the month, when visitor numbers showed a year-on-year drop of around 11%.

Over the whole month, footfall was down 3.6%.

Chanel de Kock, spokesperson at clothing stores group Brooks Brothers, said: "Increasing numbers of tourists with the current exchange rate are boosting sales, and there is a certain buzz developing again among retailers."

Reader views (1)

 Add your view

Weak poung - West End - Tourist - logical my Dear Watson.

- Never Eat Tuna Again, London


Add your comment

 

Your email address will not be published

Terms and conditions make text area bigger You have  characters left.


 
Market Roundup
MONDAY UPDATE

Morgan Stanley casts cloud over Thomas Cook and Tui

Fresh weakness in the dollar gave a further boost to commodity prices which, in turn, brought in the buyers for mining shares

More



City Spy, cityspy@standard.co.uk

To be Frank, he’s a heroin of our time

“It's been a while since Frank Timis graced City Spy so a big shout out to the former boss of Regal Petroleum who told the market he'd found a whole load of oil in Greece only for it to turn out he hadn't

More

CitiDirect.co.uk - Directory Enquiry Service for UK Businesses

CitiDirect.co.uk - Directory Enquiry Service for UK Businesses
Service Area or postcode