Boost for London sales despite big freeze
Boost for London sales despite big freeze
Monday 16th March 2009
The heaviest snowfall to hit London in two decades and the recession could not prevent a rise in retail sales in the capital last month.Figures from the British Retail Consortium (BRC) show that in February central London enjoyed a 5.9 per cent rise in like-for-like sales compared to the corresponding month last year.
In comparison, sales across the UK have slipped 1.8 per cent on the same basis.
The BRC said that footfall was hit by the snow at the beginning of the month but bounced back on the base of half-term shopping trips and an influx of western European shoppers buoyed by the strength of the euro.
"Despite the recession and a poor start to February due to extreme snow, the capital's retail sales outperformed the rest of the UK," said BRC director Stephen Robertson.
"London retailers benefited as the weak pound made shopping here more attractive for overseas visitors - especially those from eurozone countries. Half-term also helped.
"More families opted to stay at home this year rather than go on foreign holidays. Consumer confidence held up a bit better as London is proving slightly more resilient to recession than other parts of the UK."
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