THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Retail stores show flat performance at Heathrow in first quarter of 2014

Heathrow Airport saw its gross retail income edge up 0.9% to £108 million in the three months to 31 March 2014. Net retail income grew by 1% to £102 million while net retail income per passenger rose by 0.5% to £6.36.

GENERAL MERCHANDISE

Retail stores show flat performance at Heathrow in first quarter of 2014

Heathrow Airport saw its gross retail income edge up 0.9% to £108 million in the three months to 31 March 2014. Net retail income grew by 1% to £102 million while net retail income per passenger rose by 0.5% to £6.36.

Retail stores including duty and tax-free and luxury outlets performed flat to last year. Heathrow said this was partly a reflection of the commencement of an extension of the luxury retail space in Terminal 5 which is expected to cause some disruption. Performance is also likely to have been impacted by the strength of sterling relative to the same period last year and the shift in the Easter holiday peak demand from March in 2013 to April in 2014.

In the first three months of 2014, Heathrow’s traffic rose by 0.5% to 16 million passengers, with an average load factor of 70.7%. Taking into account the movement in the timing of Easter, the underlying rate of growth for the first three months of 2014 is estimated to be in the region of 2%.

The airport’s revenue grew by 10.8% to £576 million in the three month period.

Heathrow chief executive Colin Matthews said: “Heathrow performed well in the first quarter. Financial performance was strong and passenger satisfaction ratings were at their highest ever level, reflecting steady operational improvement.

“Terminal 2 is on time and on budget and will further improve Heathrow’s passenger satisfaction ratings when it opens on 4 June. Long-term prospects are also bright and our submission to the Airports Commission in May will set out the case for building on Heathrow’s strength as a global hub that can connect all of the UK to the world’s fastest growing markets.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process