Feelgood factor for retailers as 5.5 million go to Westfield

 

Retail giant Westfield had an extra four million visitors at its Stratford City centre during the Olympics.

Initial figures show 5.5 million people passed through the mall next to the Olympic park during the fortnight.

The company behind the retail parks in White City and Stratford City said the Games had driven huge numbers of visitors into the stores.

Westfield expects to have about 60 million customer visits at its two centres this year with spending of some £1.8 billion.

In a half-year results statement that showed worldwide profits up eight per cent to more than $1 billion (£640 million), Westfield singled out its London venues as particular success stories.

Chief executive Steven Lowy said: “Our most recent highlight was the performance of Stratford City that was showcased to the world during the London Olympics.”

At the start of the Games some observers claimed London had turned into a ghost town, with shoppers and tourists abandoning the capital.

This proved unfounded as retailers across the West End reported rising sales and experts now say the boost from the Olympics could continue as more foreigners flock to the City.

Richard Lowe, retail analyst at Barclays Bank, said: “There is a halo effect from the Olympics. It has brought a bit of a feelgood factor and brought a fillip to the retail sector.”

Richard Dodd at the British Retail Consortium said: “We were always confident that the Olympics would deliver a boost to retailers. These figures are good news.”

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