The O2 celebrates stellar Q1 and Easter Half Term performance, rivalling 2019 trade
The O2, which is owned and operated by AEG and Crosstree Real Estate Partners, has reported a stellar trading period throughout Q1 and Easter half term, with sales throughout the destination surpassing 2019 results. Strengthened by impressive leasing activity with an abundance of new openings across retail, leisure, and F&B, as well as a strong run of events at The O2arena including Country to Country festival, two nights of Ed Sheeran and nine nights of Elton John, The O2’s ongoing positive trajectory for 2023 continues, with the destination on track to experience one of its most successful years to date.
The O2, continues to report strong results for 2023 with like-for-like sales across outlet shopping up 44%, F&B sales up 26% and total footfall up 20% vs Q1 2019. Easter half term (3-14 April) also proved highly successful across the full destination, with like-for-like sales up 56% and footfall up 11% vs 2019.
Outlet shopping in particular experienced a strong Easter half term compared to the same period in 2019, with an uplift of 63% in like-for-like sales; standout categories included confectionery and beauty, which saw an impressive increase of 92% and 79% respectively. Similarly, the Entertainment District saw a 54% uplift in like-for-like sales vs Easter half term 2019, with bars and restaurants leading the way welcoming a sales increase of 67% and 54% respectively. These bumper results coincide with the openings of JD Wetherspoon’s The Stargazer, a debut London location for iFLY, the indoor skydiving experience, and the Farewell Elton at The O2 store from 2-17 April, where fans could shop a full range of tour merchanise for Elton John.
Janine Constantin-Russell, Managing Director of the Entertainment District and Icon Outlet at The O2, commented on the results: “We are thrilled to have experienced yet another standout trading period across Easter half term this year, finishing off a solid Q1 across the destinaion. It really does show that The O2 remains the go-to destination for a broad cross-section of visitors, delivering an unparalleled day-to-night offer, rich in retail, plentiful in leisure and abundant in F&B – not to mention the global superstars we had gracing the stage in the arena. We consistently work hard to grow, evolve and diversify our tenant mix across the full destination, delivering unique experiences which generate positive customer sentiment and successful brand results. We very much look forward to continuing this momentum throughout Q2 and the rest of the year.”
These results coincide with The O2’s continual development across the scheme, with recent debut announcements including next month’s opening of Āatma Aesthetics, the aesthetic skin clinic, Additionally, the destination has also welcomed the arrival of WHSmith, the leading British retailer, to its portfolio. The news, books, and convenience brand has opened a 871 sq ft store on The O2’s lower level, adjacent to Hollywood Bowl and Oxygen Freejumping.
Icon Outlet at The O2dealt direct. Lunson Mitchenall represented WHSmith.
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About Icon Outlet at The O2
Icon Outlet at The O2, which is owned and operated by the Waterfront Limited Partnership, a joint venture between AEG Europe and Crosstree Real Estate Partners, provides premium outlet shopping with great value on household name brands.
Icon Outlet is home to over 60 designer brands with up to 70% off RRP including adidas, Calvin Klein, Levi’s, Nike, Superdry, Ted Baker, The Cosmetics Company Store and Tommy Hilfiger, all under the world-famous roof of The O2.
Located just 15 minutes from central London and open seven days a week, the shopping outlet spans 210,000 sq ft across two spacious levels around the perimeter of The O2 arena, and brings customers the latest in athleisure, tailoring, footwear, beauty products, accessories, homewares, gifts and clothing for all ages.
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About The O2
The O2 is the world’s most popular music, entertainment and leisure venue. Spanning over 800,000 sq ft, the iconic destination has been visited by over 100 million people since opening in 2007. Playing host to over 300 events a year, The O2 is home to The O2 arena, which was recognised as Billboard’s ‘Venue of the Decade’ for the 2020’s, and club-sized music venue indigo at The O2.
A full day-out destination, The O2 encompasses a number of interactive activities including roofwalk climbing experience, Up at The O2; Icon Outlet, London’s leading premium outlet shopping destination with up to 70% off RRP on over 60 designer brands including adidas, Calvin Klein, Levi’s, Nike, Superdry, and Tommy Hilfiger; interactive football experience TOCA Social; ‘gaming battleground’ BOOM BATTLE BAR; London’s largest cinema with 19 screens, Cineworld; the 12-lane boutique Hollywood Bowl; Oxygen Freejumping trampoline park; immersive dining experience Mamma Mia! The Party; interactive photo experience Selfie Factory, and over 30 bars and restaurants within the destination’s entertainment district. The O2’s offering is constantly evolving to reflect the consumer-led convergence of retail, leisure and entertainment.
Conveniently located just 15 minutes from central London, The O2 is easily accessible via road, tube, bus or boat.
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About Outlet Shopping at The O2
