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West End to boom thanks to weaker pound

Sales in London’s West End are predicted to rise by 1.5% to £2.61bn during the six-week Christmas period, as international shoppers take advantage of the weaker pound.

A total of 65 stores opened in London’s West End between January and October 2017, 13 more than opened in the year of 2016, according to the New West End Company.

New shops included Asics’ Regent Street store, Reserved’s debut UK shop on Oxford Street and Canada Goose’s new flagship.

Sales to non-EU tourists went up by 28% between July and August this year, predominantly driven by Chinese tourists whose stopovers increased by 59% over the same period.

Jace Tyrrell, chief executive of New West End Company said: “While many retailers are concerned about the economic future, the West End is in the strongest position to grow as the UK leaves the EU.

“With spending by international shoppers increasing and the Elizabeth Line delivering millions of new visitors and an extra £1 billion in turnover each year, the West End remains the place for retail investment.”

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