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Press Release

London sales rebound from snow blip

15 March 2010

· Retail sales in central London in February were 9.9 per cent higher on a like-for-like basis than a year ago, when sales had risen 5.8 per cent. In snow-hit January, growth was only 3.4 per cent.

· February was very cold and wet but this was less disruptive than January's snow. Retail footfall in improved but remained below its year-earlier level.

Sterling's weakness continued to attract overseas visitors, especially from western Europe, China and the Middle East. Chinese visitors in particular were much more numerous than a year ago.

Food sales slowed, after shoppers had stocked up during January's snow. Homewares picked up and clothing and footwear benefited from the cold wet weather and extended discounts.

Stephen Robertson, Director General, British Retail Consortium, said:

"This is a strong bounce back for sales after winter weather put many people off shopping in January. London sales growth is back to rates more typical of late 2009, confirming that January's poor performance was a snow-induced blip.

"Sales held over from January, when many people couldn't easily get out, is one element. More fundamentally, London consumers are less worried about their own situations and the wider economy than they were last year and than people in other parts of the country. Plus overseas visitors are flocking in as the weak pound makes London a cheap place to be and to buy."

Helen Dickinson, Head of Retail, KPMG, said:

"After a relatively poor January, which was London's worst for five years, sales in the capital rebounded in February. February 2009 was impacted by the snowy weather in the first week, but there were no such challenges to contend with this year. The weakness of the pound continues to attract overseas visitors and levels of promotional activity remain high, both helping to drive London's outperformance of the rest of the UK, which only managed to achieve like-for-like sales growth of 2.2 per cent."



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British Retail Consortium

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