The owner of Gloucester Quays has reported a record year for the shopping centre following a successful Christmas trading period. Growth in sales in 2024 meant the outlet finished off the year 6.7% ahead of the national average, according to Peel Retail & Leisure.
The Gloucestershire shopping destination was also boosted by Black Friday and some retailer offers in advance of that date, the company said.
Across November and December, retail sales grew by 3.6% compared with 2023 – which was itself a record year – and food and drink sales were up 7.6%. The performance uptick was supported by the free-to-attend Christmas market, with more than 100 stalls.
In 2024, an overall 7.4% year-on-year sales increase across Gloucester Quays’ current tenants was split between 6.1% for retail and 8.5% for food and drink outlets.
Double-digit growth from fashion, homeware, and outerwear brands including Next, Skechers, All Saints, Mountain Warehouse, Puma, Crew Clothing, Le Creuset, and Suit Direct was boosted by new lettings for Pret a Manger and Bakers & Baristas.
Paul Carter, asset director at Peel Retail & Leisure, said the results were a reminder of “how relevant and in demand” the outlet is.
“There have been various headlines this month about how challenged retail was around Christmas, so to have Gloucester Quays performing so well is a real credit to our team and our brands,” he said.
“We have experienced consistent growth for several years, and that success can be put down to the quality of our offer and waterside environment.
“There is no doubt our catchment is responding to how we have evolved Gloucester Quays, as an urban outlet that combines a compelling shopping environment with dining and leisure to fit all tastes and needs, benefitting from a heritage waterside setting that few regionally can match.”
This news follows an announcement in December by Peel that it had agreed 20 leasing deals over the year including with a number of major high street brands.
Among the 11 brands to renew at Gloucester Quays are French-Belgian kitchenware brand Le Creuset, which invested in a new fit out, and international lifestyle and athletic footwear retailer Skechers, which increased its footprint at the destination by 50%.
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