The O2 starts 2023 with strong trading results

The O2’s Entertainment District and shopping outlet, Icon Outlet reported a solid start to the year with outlet shopping sales up 34 percent and sales across leisure and F&B in the entertainment district up 44 percent like-for-like versus January 2022.

Commenting on the trading update, Janine Constantin-Russell, managing director of the Entertainment District and Icon Outlet at The O2, said: “We are thrilled to be starting the year in such a strong position. With a busy arena calendar and a number of new brands set to open at the destination in the coming months, we are expecting to see persistent growth across all aspects of The O2, reinforcing our position as the world’s most popular music, shopping, entertainment and leisure venue.”

Owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners, The O2 witnessed strong performance throughout 2022, in which the destination welcomed over 54,000 sq. ft. of openings and signings within retail, leisure and F&B, including Superdry, TOG24, JD Wetherspoon, iFLY Indoor Skydiving and more.

Half term week from February 13 to February 19 also recorded its largest footfall figures so far this year, alongside strong trading results. The Entertainment istrict experienced a sales uplift of 15 percent, while outlet shopping delivered an uplift of 5 percent on a like-for-like basis. Valentine’s Day, the company said, proved to be a standout trading day, with a 43 percent increase across the whole scheme, almost double the like-for-like sales in 2022.

The company added that The O2 has an exciting year ahead with a strong arena diary, including a monthly residency with comedian Peter Kay and 10 nights of Elton John, as well as the debut London opening of iFLY Indoor Skydiving.

KLM and CBRE are the retail leasing agents for Icon Outlet, with Lunson Mitchenall leading on the food and beverage leasing.