The O2 delivers ‘strongest start’ of the year with 25% sales increase

The Entertainment District and Outlet Shopping at The O2 have experienced their “strongest start” to a trading year with a 25% increase in sales compared to 2023. The O2 has welcomed over 1.5 million visitors from 1 January to 25 February, marking a 46% increase compared to the same period last year. Hand-in-hand with the rise of visitors, average weekly sales have increased by 18%. More specifically, Outlet Shopping saw an uplift of 18% in sales versus the same period in 2023, bolstered by the sample sales of British fashion retailer Hackett, and purpose-led fashion brand, Scamp and Dude. The Entertainment District also recorded a 30% rise in sales compared to 2023. February half-term (12 – 25 February) was robust, with Outlet Shopping recording a sales uplift of 54% and average transaction value uplift of 13% compared to the same period in 2023. Similarly, the Entertainment District experienced a sales increase of 29% and rise in average transaction value by 5% versus 2023, coinciding with the destination reaching full leasing completion, with Chopstix marking the final piece to the strong lineup of brands, joining leading operators Chipotle, Afrikana, iFLY Indoor Skydiving, JD Wetherspoon’s ‘The Stargazer’, Mamma Mia! The Party, and more. Across the whole scheme The O2 welcomed a 45% rise in footfall and 37% rise in sales during the half-term weeks compared to 2023. Sales across specific categories also increased, with ‘Grab and Go’ F&B, Homeware, and Leisure seeing an uplift of 109%, 40%, and 34% respectively compared to the same period last year. Janine Constantin-Russell, managing Director of the Entertainment District and Outlet Shopping at The O2, said: “Following such strong results in 2023, we are delighted to be celebrating such a positive start to 2024. We continue to be the destination of choice when it comes to retail, leisure, and F&B, and these results emphasise the role we play in delivering a successful and desirable offer for our visitors, with everything under one roof. “2024 has already showcased a significant moment for the destination with the Entertainment District reaching full leasing completion, and we look forward to replicating more milestones throughout the rest of the year.”

The O2 delivers ‘strongest start’ of the year with 25% sales increase

February half-term (12 – 25 February) was robust, with Outlet Shopping recording a sales uplift of 54% and average transaction value uplift of 13% compared to the same period in 2023

Check out our free weekly podcast

Read Next

Today’s news in brief-17/5/24

Ocado’s net-zero targets validated by Science Based Targets Initiative

Under Armour revenues slip 3% to $5.7bn in FY24

Today’s news in brief-16/5/24

Asda urges customers to donate to national food drive

Today’s news in brief-17/5/24

Ocado’s net-zero targets validated by Science Based Targets Initiative

Under Armour revenues slip 3% to $5.7bn in FY24

Today’s news in brief-16/5/24

Asda urges customers to donate to national food drive

Today’s news in brief-17/5/24

Ocado’s net-zero targets validated by Science Based Targets Initiative

Here’s what you’re missing if you forgo a loyalty programme

Sainsbury’s to bring AI to supermarkets amid Microsoft deal

Asda unveils new brand identity

Walmart ups guidance as Q1 sales rise 38%