London Designer Outlet posts 2 percent sales growth over Christmas

London Designer Outlet (LDO) in Wembley Park said in a statement that for the Christmas week, from December 21, 2018 to January 1, 2019, total revenue increased 2 percent year-on-year with footfall rising 8 percent over the same period last year. While sales of footwear climbed by 14.4 percent, sports brands at the centre, the company added, continued their strong performance growing by 9.5 percent on the same period last year. Like-for-like revenue increased by 1.5 percent.

Commenting on the Christmas trading, Sue Shepherd, Realm’s Centre Manager for LDO, said in a statement: “Despite the well documented pressures across the retail and casual dining sectors, outlet centres continue to appeal to our guests demonstrating strong growth in what was otherwise a very challenging commercial landscape.”

Located within the 3 billion pounds Wembley Park urban regeneration, LDO is a leading fashion and lifestyle outlet centre. The company further stated that it achieved its 21st consecutive quarter of sales growth after a strong Christmas trading period that included its best week ever. LDO witnessed around 18 percent of guests coming from outside the UK with a 50 percent split between EU and other international visitors. Tax-free sales rose 7 percent. Of the visitors from outside the EU in 2018, 22 percent were Chinese including Hong Kong and Taiwan and a further 12 percent visit from India.

LDO is managed by Realm, the UK’s specialist outlet operator; and is owned by Quintain, developer of Wembley Park, one of Europe’s largest urban regeneration projects.

Picture credit:LDO via Coverdale Barclay

 

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